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 KuCoin perp at $0.000853 and the highest bid on Bitget perp at $0.000856.
The widest XPIN perpetual spread is between KuCoin and Binance: long XPIN on KuCoin at $0.000853 and short on Binance at $0.000856 for +0.41% gross, or +0.25% 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 +0.015% 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 Binance: +0.38% gross, +0.18% net, with +0.045% a day of funding on the short leg.
Spot–spot XPIN arbitrage (buy on Gate, withdraw, deposit and sell on MEXC) shows +0.02% 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.