VANA arbitrage explained
Right now Vana (VANA) trades on 8 venues we scan: 7 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on Binance perp at $1.01 and the highest bid on Bitget spot at $1.02.
The widest VANA perpetual spread is between Binance and Bybit: long VANA on Binance at $1.01 and short on Bybit at $1.01 for +0.03% gross, or -0.13% 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 -0.103% per day, which the position pays while it is open.
For a spot–perpetual (cash-and-carry) trade, the best VANA route is to buy spot on Binance and short the perpetual on Bybit: -0.18% gross, -0.38% net, with -0.161% a day of funding on the short leg.
Spot–spot VANA arbitrage (buy on Binance, withdraw, deposit and sell on Bitget) shows -0.07% 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 VANA 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: VANA funding rates · VANA spread charts · Vana price · arbitrage scanner for all coins.