XCN arbitrage explained
Right now Onyxcoin (XCN) trades on 6 venues we scan: 5 perpetual markets, 3 spot markets and 0 DEX pools. The lowest ask is on Gate perp at $0.004373 and the highest bid on Gate spot at $0.004385.
The widest XCN perpetual spread is between Gate and Aster: long XCN on Gate at $0.004373 and short on Aster at $0.004379 for +0.14% gross, or -0.02% 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 -0.037% per day, which the position pays while it is open.
For a spot–perpetual (cash-and-carry) trade, the best XCN route is to buy spot on KuCoin and short the perpetual on Aster: -0.12% gross, -0.32% net, with -0.007% a day of funding on the short leg.
Spot–spot XCN arbitrage (buy on KuCoin, withdraw, deposit and sell on Gate) 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 XCN 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: XCN funding rates · XCN spread charts · Onyxcoin price · arbitrage scanner for all coins.