VELVET arbitrage explained
Right now Velvet (VELVET) trades on 9 venues we scan: 9 perpetual markets, 4 spot markets and 0 DEX pools. The lowest ask is on KuCoin spot at $0.0705 and the highest bid on Bitget perp at $0.0705.
The widest VELVET perpetual spread is between MEXC and Binance: long VELVET on MEXC at $0.0705 and short on Binance at $0.0705 for -0.01% gross, or -0.17% 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 collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best VELVET route is to buy spot on Gate and short the perpetual on Binance: +0.07% gross, -0.13% net, with +0.042% a day of funding on the short leg.
Spot–spot VELVET arbitrage (buy on Gate, withdraw, deposit and sell on Bitget) shows -0.01% 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 VELVET 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: VELVET funding rates · VELVET spread charts · Velvet price · arbitrage scanner for all coins.