Spot + futures spread: a hedge with no coin transfer
Each row is a pair of venues: on the cheap one you buy (spot or futures), on the expensive one you short — futures only, spot cannot be shorted. The coin never moves: both legs close on their own exchanges once prices converge.
The funding column is the short leg's cost of waiting, annualized: positive — you get paid while you wait; negative — the rate eats the spread. The warning mark means withdrawals are closed on the cheap venue: nobody can stitch the spread by transferring, so convergence may take weeks.
| Coin | Spread | Buy | Short (futures) | Short funding, annual | Venues |
|---|---|---|---|---|---|
| WAVES | +19.09% | HTX · 0.1849spot$618Kwithdrawals closed | Bybit · 0.2202$694K | +10.95% | 6 |
| ZIL | +16.25% | Upbit · 0.002385spot$353Kwithdrawals closed | OKX · 0.002772$949K | -25.33% | 10 |
| SPCX | +14.8% | Gate · 119.60spot$149Kwithdrawals closed | Bitget · 137.30$95.0M | 0% | 7 |
| ZEC | +14.55% | HTX · 730.68spot$511Kwithdrawals closed | OKX · 836.98$842.4M | +10.95% | 18 |
| NES | +13.05% | HTX · 0.1272spot$337Kwithdrawals closed | OKX · 0.1438$24.6M | -195.3% | 11 |
| KII | +8.88% | KuCoin · 0.057680spot$8.4M | BingX · 0.062800$745K | -43.8% | 5 |
| GENSYN | +8.71% | Gate · 0.018370futures$134K | BingX · 0.019970$1.6M | +10.95% | 3 |
| KITE | +6.33% | HTX · 0.1066spot$383Kwithdrawals closed | Binance · 0.1133$5.1M | +10.95% | 14 |
| MTL | +5.12% | HTX · 0.2199spot$202Kwithdrawals closed | Binance · 0.2311$807K | +10.95% | 6 |
| ONE | +3.74% | Gate · 0.0007087spot$124Kwithdrawals closed | MEXC · 0.0007352$283K | +5.48% | 11 |
| ANTHROPIC | +2.71% | Bitget · 1,905.7futures$9.2Mwithdrawals closed | BingX · 1,957.2$1.9M | +5.48% | 4 |
| A | +2.28% | HTX · 0.071000spot$391Kwithdrawals closed | Binance · 0.072620$2.6M | +10.95% | 11 |
| BASECAT | +2.23% | Coinbase · 0.026860spot$979K | BingX · 0.027460$761K | +18.62% | 4 |
| APPSTOCK | +1.62% | Bybit · 301.95futures$1.1M | MEXC · 306.85$111K | +173.89% | 2 |
| O | +1.61% | HTX · 0.4338spot$289K | Bitget · 0.4408$626K | +10.95% | 12 |
| TAC | +1.58% | MEXC · 0.002346spot$409Kwithdrawals closed | Bybit · 0.002383$11.0M | +65.25% | 10 |
| JIMOTHY | +1.43% | MEXC · 0.016564spot$393K | MEXC · 0.016801$1.3M | +26.94% | 3 |
| ASTEROID | +1.42% | MEXC · 0.00005620spot$207Kwithdrawals closed | MEXC · 0.00005700$160K | +43.8% | 3 |
| SMIC | +1.27% | BingX · 8.6800futures$1.3Mwithdrawals closed | Bybit · 8.7900$360K | 0% | 2 |
| MOONSHOT | +1.27% | Bitget · 70.97futures$160Kwithdrawals closed | BingX · 71.87$1.2M | +10.95% | 2 |
| USTC | +1.24% | HTX · 0.005340spot$514K | Bitget · 0.005406$176K | +10.95% | 9 |
| TSLL | +1.21% | BingX · 9.0700futures$1.5Mwithdrawals closed | Bitget · 9.1800$226K | 0% | 4 |
| DEEP | +1.19% | Upbit · 0.014235spot$1.3M | Binance · 0.014405$3.4M | +10.95% | 12 |
| EUR | +1.02% | BingX · 1.1667futures$7.4Mwithdrawals closed | MEXC · 1.1786$1.4M | +29.35% | 3 |
| BTR | +1% | Bybit · 0.032340futures$1.9M | Binance · 0.032665$6.7M | +103.56% | 6 |
| XPIN | +1% | Gate · 0.001114futures$318Kwithdrawals closed | Bitget · 0.001125$479K | +10.95% | 9 |
| POWER | +0.99% | BingX · 0.078900spot$331K | Bitget · 0.079680$376K | +10.95% | 9 |
| PROS | +0.99% | HTX · 0.4148spot$271Kwithdrawals closed | Bitget · 0.4189$656K | +10.95% | 8 |
| EYE | +0.99% | BingX · 0.0007080futures$740K | MEXC · 0.0007150$498K | +43.8% | 2 |
| SCRT | +0.94% | KuCoin · 0.017100spot$139Kwithdrawals closed | Bitget · 0.017260$997K | +182.21% | 10 |
| ESPORTS | +0.93% | KuCoin · 0.015000spot$348K | Bitget · 0.015140$368K | +80.15% | 7 |
| DRV | +0.93% | Coinbase · 0.1532spot$1.2M | BingX · 0.1546$738K | +22.12% | 4 |
| ESP | +0.92% | Upbit · 0.088881spot$518Kwithdrawals closed | Coinbase Intl · 0.089695$123K | +47.3% | 12 |
| UAI | +0.92% | Kraken · 0.3219spot$285K | Bitget · 0.3249$13.9M | +10.95% | 12 |
| ICX | +0.9% | MEXC · 0.016590futures$245K | Bitget · 0.016740$184K | +90.45% | 9 |
| FOLKS | +0.89% | KuCoin · 1.8970futures$1.1Mwithdrawals closed | Bitget · 1.9139$101K | +10.95% | 8 |
| ANSEM | +0.89% | MEXC · 0.2534spot$495K | MEXC · 0.2557$538K | +43.8% | 5 |
| STXSTOCK | +0.89% | Bitget · 817.84futures$578Kwithdrawals closed | MEXC · 825.09$132K | +24.31% | 2 |
| ANET | +0.84% | BingX · 190.77futures$6.6Mwithdrawals closed | Bitget · 192.37$187K | 0% | 3 |
| UP | +0.83% | Gate · 0.4799spot$272K | MEXC · 0.4839$184K | +209.36% | 4 |
| REZ | +0.81% | Coinbase · 0.003108spot$216K | Bitget · 0.003133$293K | +10.95% | 10 |
| AIN | +0.8% | Bitget · 0.074454spot$224K | Bitget · 0.075050$187K | +10.95% | 8 |
| IO | +0.79% | Coinbase · 0.1390spot$215K | Bitget · 0.1401$435K | +10.95% | 12 |
| JCT | +0.79% | KuCoin · 0.002159spot$214Kwithdrawals closed | Gate · 0.002176$116K | +14.67% | 8 |
| SIREN | +0.78% | Gate · 0.028340futures$228K | Bitget · 0.028560$1.0M | +41.39% | 7 |
| PENGSTOCK | +0.78% | MEXC · 51.29futures$110K | Bybit · 51.69$1.5M | 0% | 2 |
| BLUAI | +0.75% | MEXC · 0.013074spot$101K | Gate · 0.013172$121K | +131.4% | 9 |
| OPEN | +0.75% | Upbit · 0.1597spot$226K | Bitget · 0.1609$199K | +10.95% | 7 |
| TOWNS | +0.74% | Bybit · 0.002426futures$134K | Coinbase Intl · 0.002444$268K | +98.99% | 10 |
| STAR | +0.73% | KuCoin · 0.1520futures$762Kwithdrawals closed | Gate · 0.1532$161K | +109.94% | 5 |
This is the gap between last prices, not ready profit: fees, slippage and margin are on you. Legs on different exchanges do not cover each other's margin: a rising price squeezes the short while the spot profit sits on another venue. Spreads above 20% are dropped; both sides carry $100k+ turnover and live data.