🎯 Arb Desk Report

Date: March 7, 2026

What’s the takeaway for arb traders? These opportunities are blueprints for execution: one-leg buy on one venue, one-leg sell on another, backed by explicit per-coin quotes. The scene is set for rapid, high-conviction entries, but the critical question is execution risk: notional capacity, withdrawal times, and the actual liquidity on the two sides. The table below captures the five strongest signals to study for imminent action, but all ten opportunities are worth revisiting in live liquidity conditions.

Now, let’s dive into the top five opportunities with the level of detail ARB traders demand.

🏆 Top 5 Arbitrage Opportunities

• Buy exchange and price: Bybit Spot, $0.035910
• Sell exchange and price: Coinbase, $0.040100
• Available volume: Not specified in dataset
• Window duration: Not specified
• Risk factors: Liquidity depth on both Bybit Spot and Coinbase at the given quote, potential slippage on large notions, cross-exchange withdrawal/transfer times, and counterparty risk if one venue depegs.
• Executability take: The spread is large relative to typical fees and offers a straightforward two-leg leg. Execution is plausible if counterparty liquidity exists and there’s fast settlement between Bybit and Coinbase. However, without explicit volume data, confirm availability before sizing.
• Net profit framework (illustrative): With Bybit buy at 0.035910 and Coinbase sell at 0.040100, gross per unit is 0.004190. Using a conservative fee assumption (Bybit buy 0.1%, Coinbase sell 0.5%), net per coin ≈ 0.0039536. In USD terms, that’s about $110 profit on a $1,000 notional (see Profit Calculations section for scaling).

• Buy exchange and price: Coinbase, $0.244100
• Sell exchange and price: Bybit Spot, $0.249600
• Available volume: Not specified
• Window duration: Not specified
• Risk factors: Coinbase buying fees, Bybit selling fees, potential withdrawal timing skew, and depth on both sides for the chosen notional.
• Executability take: The edge exists on a purely two-legged basis, but the apparent aggregate spread (as expressed) is substantial. Realized profitability hinges on available depth and speed of cross-exchange settlements.
• Net profit framework (illustrative): Gross per unit 0.005500. Fees (Coinbase buy 0.5%, Bybit sell 0.1%) give net ≈ 0.0040299 per coin. At a $1,000 notional, this translates to roughly $16–$17 of net profit, contingent on exact fill reliability and settlement timing.

• Buy exchange and price: Bybit, $0.000332
• Sell exchange and price: Bitunix, $0.000367
• Available volume: Not specified
• Window duration: Not specified
• Risk factors: Ultra-low price level raises (i) precision/rounding risk, (ii) liquidity depth at the micro-lot level, and (iii withdrawal/transfer speeds between Bitget-like venue and Bitunix’s chain of liquidity.
• Executability take: The edge is real in theory, but micro-figures require careful handling of tick sizes and wash risk in the tiny price band. Execution is possible for small to mid-size notional once liquidity is confirmed.
• Net profit framework (illustrative): Gross per unit 0.000035. Fees (Bybit buy 0.1%, Bitunix sell 0.2%) yield net ≈ 0.000033934 per coin. For a $1,000 notional (roughly 3,012 units), net profit ≈ $0.10–$0.12. This is a high-precision arb that benefits from very tight risk controls and low slippage.

• Buy exchange and price: Bitget, $0.340776
• Sell exchange and price: Bitunix, $0.347800
• Available volume: Not specified
• Window duration: Not specified
• Risk factors: Cross-exchange funds transfer speed, liquidity on Bitget versus Bitunix in this price range, and withdrawal times affecting capital availability.
• Executability take: The spread suggests strong profitability on the marginal unit, but actual fill efficiency will hinge on the matching depth on both Bitget and Bitunix. If liquidity is adequate, this is a clean two-leg arb target.
• Net profit framework (illustrative): Gross per unit 0.007024. Fees estimated at Bitget buy 0.1% and Bitunix sell 0.2% yield net ≈ 0.005988 per coin. For a $1,000 notional (≈2,950–2,970 units), net profit is around $16–$18.

• Buy exchange and price: Coinbase, $0.276400
• Sell exchange and price: Bybit Spot, $0.288600
• Available volume: Not specified
• Window duration: Not specified
• Risk factors: Liquidity depth on Coinbase for the buy leg, Bybit depth on the sell leg, and cross-venue settlement timings.
• Executability take: The structure is clean: buy on Coinbase, sell on Bybit. The practical challenge is ensuring that the notional is executable with acceptable slippage on both sides given real-time order book conditions.
• Net profit framework (illustrative): Gross per unit 0.012200. Fees (Coinbase buy 0.5%, Bybit sell 0.1%) yield net ≈ 0.0105294 per coin. On a $1,000 notional, this equates to roughly $37–$39 in net profit, depending on fill accuracy and precise unit rounding.

Notes on the Top 5: The five entries above represent the strongest spreads in the current window, balancing per-unit profitability with practical execution considerations. Real-world profitability is a function of notional, liquidity, and timing. The rest of the signals in the dataset remain compelling for smaller notional entries or in fast-moving micro-windows, but require tighter liquidity checks and faster execution to avoid slippage.

📊 Exchange Spread Patterns

• Consistent cross-venue structure: The CHZ edge clearly uses Bybit Spot as the buy venue and Coinbase as the sell venue. This confirms a persistent cross-venue arbitrage path: a cheaper, faster-to-access spot on a fringe venue relative to a larger, more liquid centralized venue.
• Bybit vs Coinbase: The LA and LA-second entries demonstrate repeated opportunities where Coinbase liquidity on buys pairs with Bybit sells on the opposite leg. The Bybit/ Coinbase pairing is a reliable heartbeat for this window.
• Bitget/Bitunix and Hyperliquid: The UAI and SCR signals show a recurring pattern where a mid-cap or lower-liquidity venue (Bitget/Bitunix or Hyperliquid) creates an edge against a more liquid counterparty. The pattern is strongest when the slow venue (Bitunix or Hyperliquid) pays a higher sell price for the asset versus the buy price on the more active platform.
• Cross-chain depth matters: Signals that cross from a major venue to a smaller, sometimes more esoteric exchange (e.g., Bitunix, Hyperliquid) rely heavily on quick settlement rails and bilateral liquidity. The presence of Hyperliquid in SCR highlights the potential for a hidden depth edge when a specialized bridge or desk sits between the two pricing poles.
• Asset clusters: The CHZ and XLM signals indicate that meme-tier tokens and stable-ish midcaps offer eye-opening spreads but vary on liquidity footnotes; the NEAR pair shows same-venue trading on Coinbase, which underscores the difference between cross-venue patterns (CHZ/LA-type) and same-venue trades (NEAR).

Overall pattern takeaway: The strongest spreads tend to occur when a fast, lower-fee venue feeds into a larger, high-liquidity venue, or where a niche venue’s quote tool momentarily outruns the broader platform. Liquidity depth and transfer timing are the critical factors that govern the realized profitability of these patterns.

⚡ Speed vs Size Analysis

• Speed advantage: High spreads on cross-venue legs typically favor small, rapid executions with tight notional sizes. The faster you can hit both legs, the more you protect against quote revisions and order book depth changes. This is especially critical for CHZ and LA-type signals where the notional is modest but the percentage edge looks large.
• Size advantage: Larger spreads or deeper pools (like NEAR or XLM on major venues) can support bigger positions, but you’ll incur more slippage and a larger exposure to withdrawal/transfer lag between venues. For larger notional, consider breaking into smaller tranches across multiple windows to preserve edge while reducing slippage.
• Slippage considerations: Even when a spread is strong on paper, real-world slippage can erode profits quickly. The decision to scale up should weigh average depth on both sides at your target price and the speed of execution on each venue’s API or RDBS feed.
• Position sizing recommendations: Start with conservative notional for the first runs—think 0.5–2.0% of your typical daily P&L capital per trade on the strongest edge (CHZ/LA). If fills are clean and latency is acceptable, you can scale to 5–10% of your daily arb capital on a selective, confirmed edge with stable depth.

💰 Profit Calculations

Below is a practical framework using per-unit profits and a representative fee schedule to illustrate real-world profitability. All per-unit figures are based on the prices provided and a conservative fee model:

• Coinbase buy fee: 0.50%
• Coinbase sell fee: 0.50%
• Bybit Spot fee (buy or sell): 0.10%
• Bitunix fee (buy or sell): 0.20%
• Bitget fee (buy or sell): 0.10%
• Hyperliquid fee (sell): 0.30%
• All fees apply to the notional on the respective leg; withdrawal fees are asset- and exchange-specific (not included here due to data gaps).

Per-unit net profit (calculated for each top opportunity):

• CHZ (Buy Bybit, Sell Coinbase): Gross 0.004190; Net ≈ 0.0039536; Net % ≈ 11.0%
• LA (Buy Coinbase, Sell Bybit): Gross 0.005500; Net ≈ 0.0040299; Net % ≈ 1.65%
• AKE (Buy Bybit, Sell Bitunix): Gross 0.000035; Net ≈ 0.000033934; Net % ≈ 10.22%
• UAI (Buy Bitget, Sell Bitunix): Gross 0.007024; Net ≈ 0.0059876; Net % ≈ 1.76%
• LA (Buy Coinbase, Sell Bybit): Gross 0.012200; Net ≈ 0.0105294; Net % ≈ 3.81%

Profit scaling at $1,000 notional (illustrative; actual fill depends on liquidity):

• CHZ: ≈ $110 net profit
• LA (first): ≈ $16–$17
• AKE: ≈ $0.10
• UAI: ≈ $16–$18
• LA (second): ≈ $37–$39

Minimum spread worth chasing (with these assumed fees):

• Edges like CHZ (11.67% gross, ~11.0% net) are compelling for medium notional and fast executions.
• Edges around 7–9% gross with our fee assumptions can still be attractive if liquidity is strong and withdrawal times align; but the net profits shrink toward single-digit percentages in many cases, which calls for strict risk controls and disciplined sizing.
• In practice, the minimum viable edge should comfortably exceed combined transaction costs on both legs plus any withdrawal/transfer fees, plus a buffer for slippage. With the assumed fee model, opportunities yielding net > 2–3% per unit are generally worth chasing when liquidity supports clean fills.

⚠️ Risk Alerts

• Withdrawal delays and cross-venue settlement: Capital moves between chains and venues can slow or cause temporary mispricings to widen or close, altering profitability.
• Liquidity gaps and slippage: Real-world depth may be shallower than quotes imply; large notional entries can push the price, eroding edge quickly.
• Exchange issues: API outages, market halts, or routing failures can prevent timely execution across legs.
• Rounding and tick-size issues: Very small-priced assets (AKE) require precise handling; micro slippage can dominate profit on tiny margins.
• Counterparty risk: Counterparty risk is non-zero on secondary legs; ensure you have reliable routes and contingency plans for each venue.

🔮 Tomorrow's Setup

• Assets to watch: CHZ and LA remain prime cross-venue candidates with continued Bybit-Coinbase arbitrage potential, plus the Bitget/Bitunix pairing (UAI) as a recurring pattern when depth improves.
• Market hours to monitor: The strongest signals tend to emerge around active trading windows on major venues (e.g., Coinbase and Bybit during U.S./EU session overlaps). Watch for quotes widening or tightening around these times.
• Exchange pairs to monitor: Maintain a watchlist for CHZ (Bybit → Coinbase), LA (Coinbase → Bybit), AKE (Bybit → Bitunix), UAI (Bitget → Bitunix), and the second LA entry (Coinbase → Bybit). Also keep Hyperliquid-linked SCR on radar for niche opportunities.
• Practical tip: Given the zero total pump/dump volumes and lack of explicit window durations, any live trading plan should incorporate real-time depth checks, immediate verification of cross-exchange settlement speeds, and strict pre-trade size limits.

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Arbitrage Hunter — March 7, 2026