Cross-Exchange Arbitrage

What it is

If a major coin's price differs by more than 0.15% between two of Bybit, KuCoin and OKX — you get pinged, with the venue quoting low and the venue quoting high both named.

Why it matters

A spread between two venues on the same asset is a measured dislocation, not a forecast. It exists because the two books have not cleared against each other yet, and it closes as they do — which is why the alert reports the spread's width and its recent baseline rather than a target.

How to read the alert

The alert names the pair, the venue quoting low, the venue quoting high, the current spread and how far it sits above its own baseline. A spread past 1% on a liquid pair is more likely to be a stale or wide quote than a real dislocation, so the venue prices are worth reading against their source before anything else. Both legs also carry exchange fees, which the spread figure does not include.

Sample alert

⚖️ SOL/USDT spread +0.24% (gross)
Low: KUCOIN @ 182.44
High: OKX @ 182.87
After ~fees: +0.04%
(routing & fees on you — not financial advice)

Each alert includes

• The pair and the two venues involved
• The gross spread percentage
• Which venue is quoting low and which is quoting high, with both prices
• The net spread after an estimated round-trip fee