SQD arbitrage between Coinbase and KuCoin: we compare the price of SQD on Coinbase (spot) and KuCoin (futures) 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 SQD

Subsquid Network is an innovative decentralized data lake and query engine designed to offer developers performant and permissionless access to data, aiming to build a neutral and open internet rooted in Web3 principles. Secured by ZK proofs, the Subsquid network boasts a modular architecture that enables exceptional scalability and developer convenience optimized for blockchain indexing, dApp development, and analytics. Subsquid is a response to unscalable and rigid monolithic indexing frameworks that had previously gained popularity and market traction among Web3 developers. Today, these frameworks are struggling to adapt in a rapidly evolving blockchain environment. Additionally, the network serves as a highly efficient and decentralized alternative to centralized infrastructure firms, including large RPC and API providers.

Artificial Intelligence (AI), Big Data, Analytics, BNB Chain Ecosystem

Over the past 24 hours the spread between Coinbase and KuCoin stayed between 0.56% and 1.06%, median 0.73% across 40 samples (futures to spot (basis)).

SQD: Coinbase — deposit open, withdrawal open; KuCoin — deposit open, withdrawal open.

Open interest in SQD right now — $13.0M: KuCoin $5.0M, Bybit $2.3M, Bitget $2.2M, Binance $1.9M, BingX $1.6M. See OI SQD.

About SQD arbitrage

How do I read the SQD spread?

The spread is how many percent higher SQD 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 KuCoin. 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 SQD alerts?

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