USTC arbitrage explained
Right now TerraClassicUSD (USTC) trades on 7 venues we scan: 7 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on KuCoin spot at $0.00539 and the highest bid on Bitget spot at $0.005411.
The widest USTC perpetual spread is between Binance and Variational: long USTC on Binance at $0.005402 and short on Variational at $0.005409 for +0.13% gross, or -0.03% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is -0.000% per day, which the position pays while it is open.
For a spot–perpetual (cash-and-carry) trade, the best USTC route is to buy spot on KuCoin and short the perpetual on Variational: +0.35% gross, +0.15% net, with +0.030% a day of funding on the short leg.
Spot–spot USTC arbitrage (buy on KuCoin, withdraw, deposit and sell on Bitget) shows +0.39% 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 USTC 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: USTC funding rates · USTC spread charts · TerraClassicUSD price · arbitrage scanner for all coins.