XPIN arbitrage explained
Right now XPIN Network (XPIN) trades on 8 venues we scan: 8 perpetual markets, 3 spot markets and 0 DEX pools. The lowest ask is on Gate spot at $0.000843 and the highest bid on Variational perp at $0.000853.
The widest XPIN perpetual spread is between Gate and Variational: long XPIN on Gate at $0.000844 and short on Variational at $0.000853 for +1.03% gross, or +0.87% 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 +0.221% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best XPIN route is to buy spot on Gate and short the perpetual on Variational: +1.19% gross, +0.99% net, with +0.030% a day of funding on the short leg.
Spot–spot XPIN arbitrage (buy on Gate, withdraw, deposit and sell on KuCoin) 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 XPIN 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: XPIN funding rates · XPIN spread charts · XPIN Network price · arbitrage scanner for all coins.