XDP arbitrage explained
Right now Doppler Finance (XDP) trades on 6 venues we scan: 6 perpetual markets, 3 spot markets and 0 DEX pools. The lowest ask is on Gate perp at $0.0189 and the highest bid on Bybit perp at $0.019.
The widest XDP perpetual spread is between Gate and Bybit: long XDP on Gate at $0.0189 and short on Bybit at $0.019 for +0.32% gross, or +0.16% 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 +0.173% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best XDP route is to buy spot on KuCoin and short the perpetual on Bybit: +0.16% gross, -0.04% net, with +0.030% a day of funding on the short leg.
Spot–spot XDP arbitrage (buy on KuCoin, withdraw, deposit and sell on MEXC) shows 0.00% 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 XDP 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: XDP funding rates · XDP spread charts · Doppler Finance price · arbitrage scanner for all coins.