DRIFT arbitrage between Coinbase and Bybit: we compare the price of DRIFT on Coinbase (spot) 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.

About Drift Protocol

Decentralized Finance (DeFi), Derivatives, Prediction Markets, Perpetuals

DRIFT: Coinbase — deposit open, withdrawal open; Bybit — deposit open, withdrawal open.

Open interest in DRIFT right now — $6.9M: Binance $2.0M, BingX $2.0M, Bybit $1.6M, KuCoin $796.8K, Bitget $340.6K. See OI DRIFT.

About DRIFT arbitrage

How do I read the DRIFT spread?

The spread is how many percent higher DRIFT 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 Coinbase 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 DRIFT alerts?

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