Playbook Completo de Arbitraje: Estrategias y Riesgos
La guía definitiva para ejecutar arbitraje de criptomonedas neutral al mercado. Domine las mecánicas de spot cruzado, cash & carry, diferenciales de tasas de financiación y bucles DEX.
In this guide
6 topics- 1Fundamentos del Arbitraje
- 2Arbitraje Spot Cruzado
- 3Cash & Carry (Base Spot-Futuros)
- 4Arbitraje de Tasas de Financiación
- 5Arbitraje DEX-CEX y DEX-Futuros
- 6Reglas de Oro del Arbitraje
Executive summary: how professional arbitrageurs think
Spot arbitrage with pre-positioned capital is usually the cleanest training ground.
Not the gross spread, but the net edge that remains after fees, transfer cost, gas, and slippage.
Overestimating liquidity and underestimating execution risk.
Professional execution framework
- 1Filter opportunities by net edge, not by headline spread.
- 2Trade only setups where both legs, the exit path, and the time-stop are clear before entry.
- 3Separate your playbook by capital purpose: fast execution, carry/yield, on-chain dislocations, and fiat/P2P specials.
- 4Write the reason for entry and the reason for exit before opening the trade so the process stays systematic.
Which arbitrage setup fits best
| Setup | Best for | Main risk | Best tool |
|---|---|---|---|
| Spot Arbitrage | Fast cross-exchange spreads | Transfer delay and slippage | Spot Scanner |
| Cash & Carry | Stable basis or funding yield | Liquidation and hedge cost | Spot-Futures Scanner |
| Funding Arbitrage | Capturing funding differentials | Funding regime flips | Futures Scanner |
| DEX Arbitrage | On-chain dislocations | Gas, MEV, and pool impact | DEX Scanner |
Which arbitrage type is best for what
Best for straightforward cross-exchange trades and fast spread capture.
Usually one of the fastest setups when capital is already pre-positioned on both venues.
Best for steadier market-neutral yield and cleaner basis-driven logic.
Not the fastest full cycle, but often one of the most stable setups once opened correctly.
Best when you want to capture funding differentials without relying on transfer-heavy workflows.
Fast to open, but it requires active monitoring because the funding regime can change quickly.
Best for strong on-chain dislocations when you have reliable execution infrastructure.
Can be very fast, but it is also the most technical because of gas, MEV, and pool-impact risk.
Best for local fiat-premium situations and manual deal flow, not for the most scalable professional workflow.
Usually not the fastest or easiest to scale because counterparties, payment rails, and manual processing slow things down.
The fastest setups are usually pre-funded spot arbitrage or futures funding trades where no long transfer wait is required.
If speed is the priority, strategies with capital already deployed on both sides normally win.
1) Fundamentos del Arbitraje
El arbitraje explota ineficiencias de precios temporales de un mismo activo en diferentes plataformas debido a liquidez fragmentada.
- •Busque siempre configuraciones delta-neutrales.
- •Identifique brechas de precios con escáneres en tiempo real.
2) Arbitraje Spot Cruzado
Comprar un activo en un exchange de bajo precio y venderlo en uno de alto precio.
- •Confirme el estado de depósitos y retiros.
- •Verifique soporte en la misma red de blockchain.
3) Cash & Carry (Base Spot-Futuros)
Comprar spot y abrir un short equivalente en futuros perpetuos o de entrega.
- •Encuentre bases altas en el Cash & Carry Scanner.
- •Cobre tasas de financiación positivas.
4) Arbitraje de Tasas de Financiación
Capturar diferencias de tasas de financiación de perpetuos entre dos exchanges.
- •Abra long en tasas bajas y short en tasas altas.
- •Cierre cuando las tasas converjan.
5) Arbitraje DEX-CEX y DEX-Futuros
Arbitraje entre pools descentralizados (Uniswap) y exchanges centralizados.
- •Estime costos de red e impacto en precio.
- •Use RPCs privadas para evitar ataques MEV.
6) Reglas de Oro del Arbitraje
Reglas clave para proteger su capital y mantener spreads rentables.
- •Valide siempre la profundidad del libro.
- •Calcule el ROI Neto completo con tarifas.
Checklist de Arbitraje
- •¿Profundidad suficiente en ambas piernas?
- •¿Depósitos y retiros activos en ambos exchanges?
- •¿Misma red seleccionada para transferencia?
Herramientas útiles
Mistakes that usually kill arbitrage PnL
- •Trading the headline spread before checking real executable size in the book or pool.
- •Ignoring withdrawal fees, gas, funding, or price impact before opening the position.
- •Assuming the same ticker means the same transfer network or the same hedge contract.
- •Running a hedge with too little collateral and getting liquidated before convergence happens.
Frequently asked questions
Which arbitrage setup is easiest for beginners?
Spot arbitrage is usually the cleanest starting point because it teaches spread validation, transfer networks, fees, and two-leg execution without the full complexity of hedged derivatives.
When is a spread actually tradable?
Only when it remains profitable after trading fees, network cost, slippage, gas, funding, and likely execution delay. If the edge disappears after those costs, it was not a real trade.
Why can a market-neutral trade still lose money?
Because direction is not the only risk. Most losses come from execution mistakes: bad liquidity, failed transfers, wrong sizing, or liquidation on the hedge leg.
Siguiente Paso
Vuelva a las guías o abra el scanner para buscar spreads.