YFI arbitrage explained
Right now yearn.finance (YFI) trades on 8 venues we scan: 8 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on Gate perp at $2,401.60 and the highest bid on OKX perp at $2,403.00.
The widest YFI perpetual spread is between Gate and OKX: long YFI on Gate at $2,401.60 and short on OKX at $2,403.00 for +0.06% gross, or -0.10% 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 +0.131% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best YFI route is to buy spot on Gate and short the perpetual on OKX: -0.03% gross, -0.23% net, with +0.030% a day of funding on the short leg.
Spot–spot YFI arbitrage (buy on Gate, withdraw, deposit and sell on Binance) shows -0.03% 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 YFI 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: YFI funding rates · YFI spread charts · yearn.finance price · arbitrage scanner for all coins.