BIRB: Binance ↔ Bybit arbitrage

BIRB arbitrage between Binance and Bybit: we compare the price of BIRB on Binance (futures) and Bybit (spot) in real time — the executable spread (buy at the ask, sell at the bid), basis, volume and deposit/withdrawal status. You can see whether the gap holds or is a one-second blip you would never get into.

BIRB: Bybit — deposit open, withdrawal open.

Open interest in BIRB right now — $4.7M: KuCoin $1.4M, Binance $1.3M, Bybit $922.3K, BingX $617.5K, Bitget $431.9K. See OI BIRB.

About BIRB arbitrage

How do I read the BIRB spread?

The spread is how many percent higher BIRB trades on one exchange than on the other. We measure it at tradeable prices (ask/bid) net of fees; “net” is closer to what you actually keep.

Is this arbitrage worth taking?

Look past the spread: check volume, order-book depth and the deposit/withdrawal status on Binance and Bybit. If deposits or withdrawals are shut, or the book is thin, the spread exists on paper but you cannot trade into it.

How do I get BIRB alerts?

Build a rule in the the builder with the spread threshold you want — the notification arrives as a Telegram direct message within seconds.