ArbiLayer

USUAL arbitrage

live

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

Best net spread+0.11%Binance → Variational · Perp–Perp
Best perp–perp spread+0.27%Binance → Variational
Markets tracked138 venues · 8 perp · 5 spot · 0 DEX
Price range0.76%$0.0124 – $0.0125

Spreads between exchanges

Long (buy)Short (sell)SpreadNetSpread+FDepth $Funding 24hFunding 30DD/WChart
Binance logoBinance$0.0124Variational logoVariational$0.0125 +0.27%+0.11% +0.27%— -0.000%— LS Chart →
MEXC logoMEXC$0.0124Variational logoVariational$0.0125 +0.27%+0.11% +0.27%— -0.000%— LS Chart →
Binance logoBinance$0.0124Gate logoGate$0.0124 +0.19%+0.03% +0.19%— 0.000%— LS Chart →
MEXC logoMEXC$0.0124Gate logoGate$0.0124 +0.19%+0.03% +0.19%— 0.000%— LS Chart →
Bitget logoBitget$0.0124Variational logoVariational$0.0125 +0.16%+0.00% +0.16%— -0.000%— LS Chart →
Bitget logoBitget$0.0124Gate logoGate$0.0124 +0.08%-0.08% +0.09%— 0.000%— LS Chart →
KuCoin logoKuCoin$0.0124Variational logoVariational$0.0125 +0.08%-0.08% +0.08%— -0.000%— LS Chart →
Binance logoBinance$0.0124Bybit logoBybit$0.0124 +0.07%-0.09% +0.07%— 0.000%— LS Chart →
MEXC logoMEXC$0.0124Bybit logoBybit$0.0124 +0.07%-0.09% +0.07%— 0.000%— LS Chart →
Bybit logoBybit$0.0124Variational logoVariational$0.0125 +0.06%-0.10% +0.06%— -0.000%— LS Chart →
Binance logoBinance$0.0124Bitget logoBitget$0.0124 +0.02%-0.14% +0.02%— 0.000%— LS Chart →
MEXC logoMEXC$0.0124Bitget logoBitget$0.0124 +0.02%-0.14% +0.02%— 0.000%— LS Chart →
KuCoin logoKuCoin$0.0124Gate logoGate$0.0124 0.00%-0.16% +0.01%— 0.000%— LS Chart →
Bybit logoBybit$0.0124Gate logoGate$0.0124 -0.02%-0.18% -0.02%— 0.000%— LS Chart →
Bitget logoBitget$0.0124Bybit logoBybit$0.0124 -0.03%-0.19% -0.03%— 0.000%— 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.

USUAL price on every exchange

ExchangeMarketBidAskPricevs medianFunding 24hVolume 24h
Gate logoGatePerpetual · USUAL_USDTPerpetual $0.0124$0.0125$0.0125+0.24% +0.030%$7.34M
Bybit logoBybitPerpetual · USUALUSDTPerpetual $0.0124$0.0124$0.0124+0.12% +0.030%$288.3K
Hyperliquid logoHyperliquidPerpetual · USUALPerpetual $0.0124$0.0125$0.0124+0.04% +0.030%$235.3K
Bitget logoBitgetPerpetual · USUALUSDTPerpetual $0.0124$0.0124$0.0124+0.04% +0.030%$229.7K
MEXC logoMEXCPerpetual · USUAL_USDTPerpetual $0.0124$0.0124$0.0124-0.04% +0.030%$112.5K
KuCoin logoKuCoinPerpetual · USUALUSDTMPerpetual $0.0124$0.0124$0.0124-0.20% +0.030%$51.4K
Gate logoGateSpot · USUAL_USDTSpot $0.0124$0.0124$0.0124-0.02% —$27.9K
KuCoin logoKuCoinSpot · USUAL-USDTSpot $0.0124$0.0124$0.01240.00% —$22.6K
Bitget logoBitgetSpot · USUALUSDTSpot $0.0124$0.0124$0.01240.00% —$15.0K
Variational logoVariationalPerpetual · USUALPerpetual $0.0125$0.0125$0.0125+0.56% +0.030%$204
Binance logoBinancePerpetual · USUALUSDTPerpetual $0.0124$0.0124$0.0124-0.04% +0.030%—
Binance logoBinanceSpot · USUALUSDTSpot $0.0124$0.0124$0.01240.00% ——
MEXC logoMEXCSpot · USUALUSDTSpot $0.0124$0.0124$0.0124-0.01% ——
Price is the bid/ask midpoint. "vs median" compares each market with the median of all centralized venues.

USUAL arbitrage explained

Right now Usual (USUAL) trades on 8 venues we scan: 8 perpetual markets, 5 spot markets and 0 DEX pools. The lowest ask is on MEXC perp at $0.0124 and the highest bid on Variational perp at $0.0125.

The widest USUAL perpetual spread is between Binance and Variational: long USUAL on Binance at $0.0124 and short on Variational at $0.0125 for +0.27% gross, or +0.11% 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 USUAL route is to buy spot on Gate and short the perpetual on Variational: +0.19% gross, -0.01% net, with +0.030% a day of funding on the short leg.

Spot–spot USUAL arbitrage (buy on Gate, withdraw, deposit and sell on Binance) shows -0.13% 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 USUAL 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: USUAL funding rates · USUAL spread charts · Usual price · arbitrage scanner for all coins.

Is there a USUAL arbitrage opportunity right now?

The best USUAL route right now is to buy on Binance → sell on Variational (Perp–Perp): +0.27% gross and +0.11% after fees. It is positive after the fee model, but check depth and funding before trading.

Which exchange has the cheapest USUAL?

MEXC (perp) has the lowest USUAL ask at $0.0124, and Variational (perp) the highest bid at $0.0125. Prices update every 15 seconds on this page.

How many exchanges list USUAL?

ArbiLayer tracks 13 USUAL markets on 8 venues: 8 perpetual, 5 spot and 0 DEX pools.

How do I arbitrage USUAL without transferring coins?

Use two perpetual contracts: go long USUAL on the cheaper exchange (Binance now) and short it on the more expensive one (Variational), then close both legs when the spread converges. The coins never move between exchanges.

Arbitrage for other coins

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