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Guide16 minFeb 18, 2026

How to Trade Each Type
of Crypto Arbitrage: Step-by-Step

Knowing that arbitrage types exist is one thing. Knowing exactly how to execute each one — what buttons to press, in what order, what can go wrong — is another.

TL;DR: Every arbitrage trade starts with three checks: net profit positive? Both legs executable? Order book deep enough? Spot-Spot requires transfer time management. Spot-Futures and Futures-Futures execute simultaneously with no transfer risk. DEX types add gas, MEV, and on-chain complexity.

📑 Table of Contents
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Before Any Trade

Regardless of type, every arbitrage trade starts with the same three checks:

1.

Is the net profit positive? After slippage, fees, funding, and withdrawal costs. Not the spread — the actual profit.

2.

Can I execute both legs? D/W open for spot trades, sufficient margin for futures trades.

3.

Is the order book deep enough for my size? If slippage eats more than 30% of the gross spread at my intended size, reduce the size or skip.

Type 1: Spot ↔ Spot

Buy token on Exchange A spot market, transfer it, sell on Exchange B spot market.

The Execution
1.Verify D/W status, shared network, withdrawal fee, deposit confirmations, order book depth
2.Buy on Exchange A — note your actual fill price vs scanner price
3.Withdraw immediately — have the withdrawal page ready before you buy
4.Wait for confirmation — transfer times: BSC 1-3min, Solana 10-30sec, ERC20 2-15min
5.Sell on Exchange B the moment deposit confirms — don't wait for a better price
💡 Advanced: Pre-Position Capital

Keep capital on BOTH exchanges. When you see a spread: buy on A AND sell on B simultaneously from pre-positioned funds. Transfer to rebalance afterward. Capture the spread instantly with zero transfer risk.

⚠️ What Can Go Wrong
Withdrawal stuck in "processing" for hours
Network congestion causes delays
Spread closes during transfer
Sell exchange suspends deposits while tokens are in transit
Wrong network — tokens lost or require manual recovery

Checking D/W status and networks before buying is covered in the deposit & withdrawal traps guide.

Type 2: Spot ↔ Futures

Buy on spot market, short on futures (or vice versa). The profit comes from the price difference between spot and futures.

The Execution
1.Calculate total costs: spot fee, futures fee, margin requirement, funding rate, slippage
2.Execute both legs simultaneously — buy spot on A, short futures on B (2-5x leverage)
3.Monitor: spread convergence, funding rate direction, margin health on futures side
4.Close both when spread narrows — sell spot on A, buy back short on B
Funding direction

If you're short futures and funding is positive — you're getting paid to hold. If funding is negative — you're paying. Recalculate if it's still worth holding.

Margin risk

At 5x leverage, a 20% price move against your short means liquidation. The exchange doesn't know about your spot hedge on another exchange. Keep margin healthy.

Type 3: Futures ↔ Futures

Long on one exchange's perpetual futures, short on another's. Same token, different prices. Delta-neutral position.

The Execution
1.Set up margin on both exchanges — calculate how much you need at your chosen leverage
2.Execute simultaneously — long on cheaper exchange, short on more expensive
3.Monitor net funding = funding received on short - funding paid on long
4.Close when spread converges — or when net funding costs exceed remaining profit
Leverage Guidelines
2xVery safe. Liquidation at ~50% move. Almost never happens.
3xSafe. Liquidation at ~33%.
5xMaximum recommended. Liquidation at ~20%. Possible on volatile altcoins.
>5xNot recommended. Liquidation risk too high for the arbitrage profit you're targeting.

Remember: your hedge is on a DIFFERENT exchange. If one leg gets liquidated, you still have the other position open and unhedged. Use conservative leverage — the math is in the 5x rule.

The full leverage and margin math is in the 5x rule, and the delta-neutral mechanics in the hedging guide.

Type 4: Spot ↔ DEX

Buy on CEX spot market and sell on a DEX (or vice versa). Requires a wallet with gas tokens for the DEX's chain.

Check DEX Liquidity

AMM pools show "Total Value Locked" (TVL). Higher TVL = deeper liquidity = less slippage. But TVL alone isn't enough — check the actual price impact for your trade size.

$5M TVL~0.02% price impact. Negligible.
$50K TVL~2% price impact. Significant.
$5K TVL~20% price impact. Don't do it.
⚠️ MEV / Front-running

Bots on Ethereum can see your pending transaction and front-run it — buying before you, pushing the price up, then selling after you buy. Use MEV protection (Flashbots on Ethereum, Jito on Solana) or set tight slippage tolerance.

Type 5: Futures ↔ DEX

Long/short on CEX futures, opposite position on DEX perpetual protocol (Hyperliquid, Aster, etc.). The newest and least competitive type.

DEX Perp Specifics
Hyperliquid charges funding every 1 hour (not 8 like most CEXs) — rates can differ significantly
Your margin and P&L are on-chain — withdrawing profits requires an on-chain transaction
Each protocol handles liquidation differently — know the rules before putting capital in
Some DEX perps use oracle prices for liquidation — can differ from their own order book price

Choosing the Right Type

Funds on one exchange only

→ Spot-Spot (but need to transfer) or add funds to a second exchange first

Funds on two CEXs

→ Spot-Futures or Futures-Futures — no transfer needed, faster execution

Crypto wallet + CEX account

→ Spot-DEX — good for larger spreads but slower execution

CEX margin + DEX perp account

→ Futures-DEX — newest and least competitive, bigger spreads

Regardless of type: calculate your ACTUAL profit after ALL costs before executing. Not the spread. The profit. If that number is positive — go. If it's negative or barely positive — skip.

The foundation under all five types: how exchanges work — order books, fees, and liquidity.

FAQ

Which arbitrage type is best for a beginner?

It depends on where your funds sit: two CEXs — Spot-Futures or Futures-Futures (no transfer, faster execution); wallet plus CEX — Spot-DEX for bigger spreads but slower execution.

What does every arbitrage trade start with?

Three checks: net profit positive after all costs, both legs executable (D/W open or margin sufficient), and the book deep enough for your size — if slippage eats more than 30% of the gross spread, cut size or skip.

What leverage is acceptable for futures-futures arbitrage?

2x is very safe (liquidation at a ~50% move), 3x is safe (~33%), 5x is the recommended maximum (~20%). Above 5x, liquidation risk is too high for the targeted arbitrage profit.

How do DEX-type executions differ from CEX types?

DEX types add gas, on-chain confirmation time, MEV/front-running, and AMM slippage: check the actual price impact for your size, not just the pool TVL.

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