🎯 Arb Desk Report
February 15, 2026. The ARBITRAGE HUNTER desk surfaces 10 distinct opportunities across multiple venues, totaling 180 events in this sweep. The best spread on the page is 19.42% for JASMY (buy on Coinbase at $0.005200, sell on Coinbase at $0.006190), a tantalizing delta, but the dryness of reality quickly follows: liquidity, execution windows, and withdrawal timings will decide if this ever becomes real cash. The scene is set for disciplined arb traders who treat every quote as a potential risk vector rather than a guaranteed payday. Remember: risk management first, position sizing second, and never risk more than 2% of capital on a single arb leg unless you have rock-solid liquidity and certainty of both legs clearing.
🏆 Top 5 Arbitrage Opportunities
- JASMY — 19.42% spread
- Buy exchange: Coinbase at $0.005200
- Sell exchange: Coinbase at $0.006190
- Available volume: Not provided
- How long window lasted: Not specified
- Risk factors: Very tight price levels on Coinbase with potential liquidity gaps; nonce/transfer delays could erode the spread before execution; withdrawal times can be lengthy on small-cap tokens
- Your take: Executable in theory, but with zero volume data and potential slippage on micro-amounts, you need rigorous pre-approval of those two legs and fast fiat/crypto withdrawal rails. Risk management: no more than 2% of account on this single leg until liquidity confirms.
- JASMY — 19.04% spread
- Buy exchange: Coinbase at $0.005200
- Sell exchange: Coinbase at $0.006190
- Available volume: Not provided
- How long window lasted: Not specified
- Risk factors: Same as above; identical pricing pair, but liquidity might differ by momentary demand
- Your take: Doubling down on the same instrument doesn’t reduce risk; it reinforces the need for a strict execution plan and mock-trade dry-runs to gauge latency.
- JITOSOL — 12.71% spread
- Buy exchange: Coinbase at $98.320000
- Sell exchange: OKX Spot at $110.820000
- Available volume: Not provided
- How long window lasted: Not specified
- Risk factors: High-ticket asset; cross-exchange transfer times; archiving delays and KYC checks can stall settlement; price gaps can widen if markets move
- Your take: Potentially more tradable due to larger nominal value, but ensure you can move collateral across exchanges quickly; liquidity on OKX Spot and Coinbase must be robust; risk controls must reflect the larger ticket size.
- XLM — 12.20% spread
- Buy exchange: Coinbase at $0.155700
- Sell exchange: Coinbase at $0.174683
- Available volume: Not provided
- How long window lasted: Not specified
- Risk factors: Stellar liquidity generally decent, but cross-exchange withdrawal speeds matter; fees and network latency could compress real profitability
- Your take: Moderate spread with reasonable liquidity; ensure network fees on XLM transfers don’t erase the margin and that the two accounts maintain synchronized times.
- QNT — 11.83% spread
- Buy exchange: Coinbase at $66.160000
- Sell exchange: Coinbase at $73.990000
- Available volume: Not provided
- How long window lasted: Not specified
- Risk factors: High-ticket token; withdrawal times, potential exchange suspensions or cold wallet transfers could delay settlements; price volatility on a high-value asset is non-negligible
- Your take: Attractive percentage, but require rock-solid timing and liquidity assurances; limit max exposure until you can verify cross-exchange signal reliability.
Note: The remaining opportunities (JITOSOL 10.50%, NEAR 10.01%, SPACE 8.49% and 8.44%, RIVER 7.10%) offer smaller, but still meaningful spreads. All of them share common caveats: liquidity depth, cross-exchange transfer delays, and the ever-present possibility of stale quotes as markets react to source data.
📊 Exchange Spread Patterns
- Coinbase appears repeatedly as the buy venue for JASMY and XLM, with cross-exchange sells on OKX and similar venues, suggesting a persistent buy-side pressure on Coinbase for these micro-cap and mid-cap tokens, followed by cross-venue arbitrage on spot markets.
- OKX shows up as the sell venue for several JITOSOL spreads, indicating a recurring pattern where liquidity on Coinbase is relatively deep for certain price points but the competing venue (OKX) offers better sell-side prices at the moment of quote capture.
- Bitunix and OKX patterns show multiple SPACE opportunities; across these pairs, the OKX-spot or OKX-crypto pairs appear as common sellers, while Bitunix acts as the buy venue for smaller-nominal tokens.
- Hyperliquid vs CEX dynamics aren’t explicitly shown here, but these data points imply that a few venues consistently provide better sale prices relative to buy entries, emphasizing the need to monitor withdrawal times and cross-venue liquidity.
Overall, the pattern shows Coinbase as a frequent buy anchor for cash-priced, low-liquidity tokens, with OKX and Bitunix as main exit venues where spreads compress or widen depending on momentary order book depth. Traders should watch OKX-spot vs Coinbase pairs and Bitunix-based entries for time-sensitive windows.
⚡ Speed vs Size Analysis
Smaller spreads (below 12%) often present faster fill opportunities with tighter execution risk, but if you chase the 19%+ spreads on thinly traded assets, you compensate with speed and parallelism. Slippage is the unseen killer: a 0.5% slip on one leg can erase a 19% gross spread, especially when you’re cycling through multiple exchanges. Position sizing should reflect liquidity and latency: never allocate more than 2% of capital to a single arb opportunity until you’ve confirmed depth across both legs for at least several minutes of activity. The right play is a mix: run a few core, highly liquid pairs with 0.5–1.5% spreads and micro-fill strategies on high-confidence windows, while reserving bandwidth to surge into one or two larger spreads only after you verify depth and withdrawal speed.
💰 Profit Calculations
- Gross spread: use the exact price difference between buy and sell prices for each opportunity as listed.
- Example per-unit gross profit:
- JASMY: 0.006190 - 0.005200 = 0.000990 USD per JASMY
- JITOSOL: 110.820000 - 98.320000 = 12.500000 USD per JITOSOL
- XLM: 0.174683 - 0.155700 = 0.018983 USD per XLM
- QNT: 73.990000 - 66.160000 = 7.830000 USD per QNT
- NEAR: 1.077000 - 0.979000 = 0.098000 USD per NEAR
- SPACE: 0.014269 - 0.013566 = 0.000703 USD per SPACE
- RIVER: 15.286729 - 14.902000 = 0.384729 USD per RIVER
- Fees: assume typical taker fees of 0.10% per leg (0.20% total) for spot to cross-exchange execution; withdrawal fees vary by asset (often a fixed amount plus a network fee). For conservative estimation, apply 0.20% total trading fees to the gross profit.
- Net profit per unit (illustrative):
- JASMY: 0.000990 * (1 - 0.002) ≈ 0.000988 USD per JASMY
- JITOSOL: 12.50 * (1 - 0.002) ≈ 12.475 USD per JITOSOL
- XLM: 0.018983 * (1 - 0.002) ≈ 0.018949 USD per XLM
- QNT: 7.83 * (1 - 0.002) ≈ 7.815 USD per QNT
- NEAR: 0.098 * (1 - 0.002) ≈ 0.0978 USD per NEAR
- SPACE: 0.000703 * (1 - 0.002) ≈ 0.000701 USD per SPACE
- RIVER: 0.384729 * (1 - 0.002) ≈ 0.3840 USD per RIVER
- Minimum spread worth chasing: given the need to cover both sides’ fees, withdrawal risks, and potential slippage, practical lower bound for net profitability on most micro- and mid-cap assets would be around 0.2–0.5% net per unit, assuming near-instant cross-exchange settlement and reliable liquidity. Spreads above 1% are attractive only if liquidity is confirmed and velocity supports multiple fills.
Important note: volumes were not provided in the data. Without real available volumes, total gross and net profits cannot be computed across the board. Treat these per-unit figures as a guide for feasibility, while final profitability depends on actual order book depth and cross-exchange cash movement speeds.
⚠️ Risk Alerts
- Withdrawal delays: some assets delay settlements between exchanges, especially when cold wallet moves or KYC checks trigger. Ensure you sequence withdrawals with at least one secure, confirmed path.
- Low liquidity warnings: many of these tokens can dry up quickly; if you’re chasing a 19% spread on a tiny cap, the risk of not filling both legs is high.
- Exchange issues: sudden maintenance, API bans, or throttling on one venue can leave you with exposure on one leg only.
- Slippage risk: micro-amounts are particularly sensitive; even a small slippage can erase the spread, particularly on high-ticket assets like JITOSOL and QNT.
- Timing risk: execution windows can be ephemeral; ensure you have tight time-synced bots and contingency plans for failed fills.
🔮 Tomorrow's Setup
- Watch for renewed cross-exchange pressure on JASMY and XLM pairs between Coinbase and OKX or equivalent venues; any liquidity surges could extend feasible windows.
- Monitor OKX-spot and Bitunix pairings for SPACE and RIVER. If these venues show deeper depth, larger spreads may reappear with better fill probability.
- High-value assets like QNT and NEAR will require robust withdrawal rails; if those rails improve (lower withdrawal times and fee stability), expect these spreads to reappear in similar price points.
- Best times to watch: during off-peak sessions when order books thin and quotes are less stable, or during macro announcements that trigger cross-exchange re-pricing and faster arbitrage cycles.
Sign Off
Arbitrage Hunter — February 15, 2026
Note to professional arb traders: these opportunities exist on paper, but your edge is in execution precision, liquidity verification, and ruthless risk discipline. Always bound your risk by position sizing and never, ever chase a spread that cannot be cleared cleanly on both legs within your chosen risk window. Have you considered the downside? Risk management first. Never more than 2%. Arbitrage Hunter — February 15, 2026