Summary: The best way to bridge between Fantom and Arbitrum is with a secure multi-chain DEX that connects between Layer 1 and Layer 2 protocols.
We recommend the Synapse Protocol because it is the largest and most trusted cross-chain DEX that supports swaps between the Fantom Network and Arbitrum L2 network.
- Bridge from Fantom to 20 different networks with USDC, USDT or ETH.
- Lowest fees and tightest slippage on Cross-Chain swaps.
- Largest and most secure Cross-Chain DEX.
Can you Bridge from Fantom to Arbitrum?
Indeed, it is possible to bridge between Fantom and Arbitrum. This is commonly facilitated by a decentralized bridging service which enables the movement of assets across these two networks.
The process involves securing the original tokens on one blockchain and generating matching tokens on the other. For example, when transferring Fantom's native token (FTM) to Arbitrum, the FTM would be secured and a proportional amount of wrapped FTM (WFTM) would be generated on Arbitrum.
How to Bridge from Fantom to Arbitrum
To bridge tokens between Fantom and Arbitrum, two primary options exist: SpookySwap and Synapse. Both serve as decentralized exchanges (DEXs) that enable cross-chain bridging. However, Synapse stands out as the best choice due to its lower fees, quicker bridging, and broader range of supported tokens.
In this example, we'll use Tether (USDT) as the token to bridge, but other options include USDC, SYN, ETH, gOHM, nETH, and nUSD. To begin, follow these steps:
- Visit Synapse and connect your Web3 Wallet.
- Select Fantom and Arbitrum as the two networks.
- Input the amount of USDT you want to bridge.
- Confirm the two transactions on Metamask and your funds in will arrive in your wallet within a minute.
Fantom to Arbitrum Bridge Fees
The precise costs of transactions, including those involving a cross-chain bridge, may vary based on several elements:
- Network Traffic: Both Fantom and Arbitrum adjust their transaction fees in response to network usage. When the network is heavily used, the fees increase.
- Gas Costs (Fantom): In Fantom, transaction fees are determined in gas and paid in FTM. Gas prices swing based on network demand.
- Transaction Intricacy: Transactions that are more complex, such as those interacting with smart contracts, may require more computational resources, thereby increasing the cost.
- Arbitrum Charges: Arbitrum adopts a distinct approach where fees are comparatively lower and do not vary as dramatically as Fantom's.
- Bridging Service Costs: Some cross-chain bridging services, like Synapse, may apply additional fees for their services.
Typically, you can expect to pay anywhere between $5-$10 for transfers from Fantom to Arbitrum and $15-$25 for transfers from Arbitrum to Fantom.
Understanding Bridging Risks
Utilizing a blockchain bridge to transfer assets between networks such as Fantom and Arbitrum carries risks like potential smart contract flaws, untrustworthy validators, consensus mechanism failures, user errors due to the process's complexity, and possible regulatory shifts. It's paramount to use reliable bridge services like Synapse and comprehend the bridging process to lessen these risks.
Final Thoughts
In conclusion, bridging between Fantom and Arbitrum is possible through reliable and secure multi-chain DEXs like Synapse Protocol. This protocol offers lower fees, faster transactions, and a broader range of supported tokens, making it an ideal choice for cross-chain bridging. However, it's essential to be aware of the risks associated with blockchain bridges, such as smart contract vulnerabilities and potential regulatory changes. By using trusted bridging services and understanding the process, you can mitigate these risks and seamlessly move your assets between the Fantom and Arbitrum networks.
Co-Founder & former Investment Banker (Finance MBA) turned Full-Time analyst and Head of Research at Buy Bitcoin Bank. Left traditional finance to pursue my interest in digital assets and decentralized finance.
