TradeXYZ arbitrage opportunities usually appear when one market reprices faster than the hedge venue. A perp can trade rich while the broker reference remains lower, or funding can become high enough that a hedged short deserves review. The best signals combine both: a positive funding rate, a meaningful price difference, enough open interest, and a hedge quote that is not stale.
The scanner ranks opportunities by estimated net yield because raw price gaps are not enough. A 200 bps gap can disappear if the book is thin, the stock market is closed, or borrow is expensive. A smaller gap with clean liquidity and fresh data can be more realistic. Treat every row as a research lead: check the TradeXYZ order book, confirm the broker route, and only then decide whether the setup is tradable.
What deserves attention
- Positive funding plus clean hedge reference.
- Large price difference with fresh data.
- Enough depth to enter and exit without destroying edge.