USDS arbitrage between OKX and Bybit: we compare the price of USDS on OKX (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 USDS

USDS is the stablecoin of the decentralized Sky ecosystem, designed to maintain a soft peg (a value intended to stay close) to the U.S. dollar. It functions as a versatile tool for decentralized finance (DeFi), allowing value to move through the system via peer-to-peer lending and saving without a middleman. The token is 'put to work' by being supplied to various protocol modules; for example, users can convert USDS into sUSDS to earn interest from protocol revenue or lock it to receive SKY governance tokens. As the ecosystem grows, this scales through "Sky Stars," which are semi-autonomous projects that expand the stablecoin’s utility into specialized areas like institutional credit and advanced lending.

Stablecoins, USD Stablecoin, Solana Ecosystem, Arbitrum Ecosystem

USDS: OKX — deposit open, withdrawal open; Bybit — deposit open, withdrawal open.

About USDS arbitrage

How do I read the USDS spread?

The spread is how many percent higher USDS 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 OKX 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 USDS alerts?

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