Today, a follower asked if arbitrage between spot and futures is still worth doing. The days of easy money with your eyes closed are over. Now, Bitcoin spot-futures arbitrage only yields an annualized return of 4-5%, and after deducting costs, you're basically working for nothing. Smaller tokens might have higher returns, but they could go to zero at any time. A few major issues: 1- It's explicitly banned in China, and if you're caught, it's a criminal offense (though with small amounts, you're probably fine). 2- Without tens or hundreds of thousands in capital, you can't even meet the threshold (requires a large initial investment). 3- Manual operations can't compete with quant trading bots (). 4- If the market fluctuates, leverage will liquidate your position first. If you really want to make money in crypto: Just DCA into BTC/ETH and hold—it’s better than messing around with arbitrage. Or just stick to your day job. This game is now just a setup for institutions to fleece retail investors. In short: Regular folks, stay out of it.