DEX scanner, step by step

How to find a gap between the pool price and the exchange price — and tell the real ones from the painted ones.

What this page does

The scanner takes a token's price in a decentralised exchange pool and compares it with the price of the same coin on nine centralised exchanges. Where a gap exists it shows which way it runs: buy in the pool and sell on the exchange, or the reverse. Eight networks are covered: Ethereum, BNB Chain, Base, Arbitrum, Solana, Polygon, Optimism and Avalanche.

The filter bar: capital, fees, minimum liquidity and network selection
The filter bar: capital, fees, minimum liquidity and network selection

The filters, in order

Capital is the field that matters most. It drives not only the dollar profit but the spread itself: the larger your size, the harder it pushes the pool price. Enter your real number rather than a round thousand and half the pretty routes disappear on their own.

Trading fee is your fee on the centralised exchange. The 0.1% default matches most spot markets.

Pool fee is what the pool itself charges. Typical values: 0.3% on classic Uniswap v2 and PancakeSwap pools, 0.05% on stablecoin pools, up to 1% on small pairs.

Minimum liquidity removes pools with no money in them. In a $30,000 pool a $3,000 trade eats about 9% of the gap before any fees. Go below $100,000 only deliberately.

Minimum spread is the cut-off below which routes are hidden. Keep it above zero: a route netting 0.05% will not pay for the time spent moving funds.

Networks — uncheck the ones where you hold no wallet or no gas. Keep Ethereum off if you work in small size: a single transaction there costs more than the whole profit on three hundred dollars.

What the columns mean

The routes table: route, prices, spread, slippage and the net result
The routes table: route, prices, spread, slippage and the net result
  • Route — from where to where. The arrow always shows the order of the trade: buy first, sell second.
  • Pool price — the last trade price in the deepest pool for that coin.
  • Exchange price — the best price on the side you need: ask if you buy on the exchange, bid if you sell.
  • Spread — the raw gap before deductions. This is not what you receive.
  • Slippage — how far your trade moves the pool price. An estimate from liquidity, not a quote.
  • Net — the spread minus both fees, gas and slippage. This is the actual result.
  • Liquidity and volume — how much money sits in the pool and how much passed through it in a day. Deep liquidity with no volume means a dead pool.

Where slippage comes from

A pool price is not fixed: it is set by the ratio of the two coins inside. When you buy, you take one out and put the other in — the ratio shifts and the price moves against you. For a classic pool the shift is S/(L/2+S), where S is your size and L the pool's liquidity.

Hence the rule that saves the most money: a DEX spread is inversely proportional to your size. A route showing 8% on a $60,000 pool is excellent for a $500 trade and loss-making for a $20,000 one.

The main trap: a matching ticker

Anyone can mint a token using a popular coin's ticker, seed a pool with a little money, and produce a quote unrelated to it. A naive scanner compares that against the real coin's exchange price and reports thousands of percent.

We drop those pairs: the coin must appear among the largest by market cap, its contract address comes from its own entry, and both prices — pool and exchange — must agree with its market price. Pools turning over less than $25,000 a day are removed as well.

Even so, verify the contract address on the exchange and in the pool by hand before trading. It takes a minute and saves the whole deposit.

What the scanner does not know

  • Transfer taxes. Some tokens take a cut on every transfer. Check them in the network explorer.
  • Whether withdrawals are open. An exchange may have the coin's withdrawals closed or not support the network you need.
  • Exchange withdrawal fees. They vary by coin and network and are only visible in your account.
  • Real router depth. An aggregator like 1inch may split the trade across pools and beat our estimate.

The working order

  1. Put your real size into the Capital field.
  2. Keep only the networks where you hold a wallet and gas.
  3. Sort by Net, never by Spread.
  4. Open the pool with the button and check the contract address against the exchange.
  5. Confirm in your exchange account that deposits and withdrawals are open on that network, and at what cost.
  6. Only then decide whether the trade is worth the time.

For the mechanics behind the venues, read how CEX differs from DEX; for how size eats a gap, read the piece on slippage.

More guides

What crypto arbitrage is

Where price gaps between venues come from, which types of arbitrage exist, and why a pretty percentage on screen rarely reaches your wallet intact.

CEX vs DEX

Two different worlds of crypto trading — different fees, speed, risks, and different arbitrage opportunities.

What a spread is

The price difference the whole of arbitrage is built on — and the four reasons it shrinks by the time you trade.