How we check a route
Every cost, counted once
Net is what's left of the gap after all of these, at your trade size. If nothing is left, the route isn't shown.
Taker fees on both legs
Each market's own published taker fee, on the buy and on the sell. Enter your own fee tier and net follows it.
Withdrawal and network fees
When a coin has to move between exchanges, the withdrawal fee on the network both sides share is taken off.
Fiat conversion, once
A market quoted in a local currency is priced through that exchange's own USDT book, and that swap is counted one time, never twice.
Fees to close, and funding
A route that keeps a position open pays fees again to close it. Funding routes also count the next 8 hours of funding at the rate each exchange shows now.
Four checks on every route
Run on live data, every time the books change.
Depth at your size
We walk the live order book level by level at the size you trade, so a great price with almost nothing behind it doesn't pass. A route must fill at least $50.
Fresh quotes
Both prices must have come from the exchange moments ago. A quote older than 10s makes the route Caution, and one older than 30s removes it.
Transfer status
If the coin has to move, deposits and withdrawals must be open on a network both exchanges share. Unknown makes the route Caution, and closed removes it. Routes that hold the coin on both sides need no transfer.
Same coin, sensible price
Both sides must be the same token, not two coins that share a ticker, and the price must sit near the coin's price everywhere else.
How ghost spreads are filtered
A ghost spread is a gap you can't actually take. We remove them by depth, freshness and transfer checks on each route. We never cut by percentile: no route is hidden or kept for where it ranks against others. Each one stands or falls on its own checks.
Verified or Caution
Every check passed with real data: fresh quotes, enough depth at your size, the same coin on both sides, an open transfer path if one is needed, and a sensible price.
At least one check couldn't be confirmed, or the market trades too little to trust. The route stays visible with the reason in plain words, so you can judge it yourself.
What we never do
- Trade for you. You place every order on your own accounts, from an alert, a webhook or the API.
- Hold your funds or your keys. We never ask for trade-enabled API keys.
- Promise a profit. Net is an estimate from live books, and your fills and timing will differ.
- Hide a route's problems. If something is off, the reason is on the row.
Every Verified route is logged after it closes, split by route type. See the full track record
See the checked routes live
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Market data tool, not financial advice. Net figures are estimates. Trading can lose money.