ArbiLayer

USDE arbitrage

live

Live Ethena USDe price differences between exchanges: perpetual, spot and DEX spreads after fees, with funding and depth.

Best net spread-0.18%Gate → Bybit · Spot–Spot
Best perp–perp spread—no perp pair
Markets tracked76 venues · 1 perp · 6 spot · 0 DEX
Price range0.10%$0.999 – $0.9999

Spreads between exchanges

Long (buy)Short (sell)SpreadNetSpread+FDepth $Funding 24hFunding 30DD/WChart
Gate logoGatespot$0.9996Bybit logoBybit$0.9988 -0.08%-0.28% -0.09%— -0.026%— LS Chart →
Bitget logoBitgetspot$0.9996Bybit logoBybit$0.9988 -0.08%-0.28% -0.09%— -0.026%— LS Chart →
Binance logoBinancespot$0.9998Bybit logoBybit$0.9988 -0.10%-0.30% -0.11%— -0.026%— LS Chart →
Bybit logoBybitspot$0.9999Bybit logoBybit$0.9988 -0.11%-0.31% -0.12%— -0.026%— LS Chart →
MEXC logoMEXCspot$0.9999Bybit logoBybit$0.9988 -0.11%-0.31% -0.12%— -0.026%— LS Chart →
KuCoin logoKuCoinspot$1.00Bybit logoBybit$0.9988 -0.21%-0.41% -0.22%— -0.026%— LS Chart →
Long = where you buy, Short = where you sell. Net subtracts a two-leg taker fee model; Spread+F adds the next funding payment.Updates every 15 seconds. Not investment advice.

USDE price on every exchange

ExchangeMarketBidAskPricevs medianFunding 24hVolume 24h
Bybit logoBybitSpot · USDEUSDTSpot $0.9998$0.9999$0.9999+0.01% —$4.77M
Bybit logoBybitPerpetual · USDEUSDTPerpetual $0.9988$0.9992$0.999-0.08% -0.026%$56.7K
Bitget logoBitgetSpot · USDEUSDTSpot $0.9995$0.9996$0.9996-0.02% —$33.7K
Gate logoGateSpot · USDE_USDTSpot $0.9995$0.9996$0.9996-0.02% —$18.4K
Binance logoBinanceSpot · USDEUSDTSpot $0.9997$0.9998$0.99980.00% ——
MEXC logoMEXCSpot · USDEUSDTSpot $0.9998$0.9999$0.9999+0.01% ——
KuCoin logoKuCoinSpot · USDE-USDTSpot $0.999$1.00$0.9999+0.02% ——
Price is the bid/ask midpoint. "vs median" compares each market with the median of all centralized venues.

USDE arbitrage explained

Right now Ethena USDe (USDE) trades on 6 venues we scan: 1 perpetual market, 6 spot markets and 0 DEX pools. The lowest ask is on Bybit perp at $0.9992 and the highest bid on Bybit spot at $0.9998.

For a spot–perpetual (cash-and-carry) trade, the best USDE route is to buy spot on Gate and short the perpetual on Bybit: -0.08% gross, -0.28% net, with -0.026% a day of funding on the short leg.

Spot–spot USDE arbitrage (buy on Gate, withdraw, deposit and sell on Bybit) shows +0.02% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.

Small USDE gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.

Related: USDE funding rates · USDE spread charts · Ethena USDe price · arbitrage scanner for all coins.

Is there a USDE arbitrage opportunity right now?

The best USDE route right now is to buy on Gate spot → sell on Bybit spot (Spot–Spot): +0.02% gross and -0.18% after fees. After fees it is not profitable, which is normal for liquid coins.

Which exchange has the cheapest USDE?

Bybit (perp) has the lowest USDE ask at $0.9992, and Bybit (spot) the highest bid at $0.9998. Prices update every 15 seconds on this page.

How many exchanges list USDE?

ArbiLayer tracks 7 USDE markets on 6 venues: 1 perpetual, 6 spot and 0 DEX pools.

How do I arbitrage USDE without transferring coins?

Open a long perpetual on the cheaper exchange and a short on the more expensive one, then close both when the prices converge. USDE currently has fewer than two perpetual venues in the scanner.

Arbitrage for other coins

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