BMT arbitrage between Bybit and Kraken: we compare the price of BMT on Bybit (futures) and Kraken (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.

BMT: Bybit — deposit open, withdrawal open.

Open interest in BMT right now — $8.4M: Binance $3.3M, BingX $2.0M, Bybit $1.6M, KuCoin $1.5M. See OI BMT.

About BMT arbitrage

How do I read the BMT spread?

The spread is how many percent higher BMT 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 Bybit and Kraken. 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 BMT alerts?

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