Funding arb · Price arb /

REZ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0454%/8h= +49.7% APRpaid last 24h +0.075%

Price spread now: Hyperliquid against Bitget+0.235%7-day average +0.185% · you sell dearer than you buy

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$790.793% of the position

Long on Bitget Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.219%+$22 on $10k

Price spread, last 7 days+0.033%+$3 · spread now +0.235%, 7d avg +0.185%

Together, before fees+0.252%+ Points / potential airdropHyperliquid: Season 2 · farm board+$25 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Hyperliquid is 0.049% dearer against Bitget than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.185%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.219% in total (about 11.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget REZUSDT	0.003837	0.0100	pay 0.0050% / 4h	16m 19s	$600K	$1.2M	50x
Short	Hyperliquid REZ	0.003846	0.0554	get 0.0069% / 1h	16m 19s	$1.6M	$498K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bitget. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BitgetbpFee HyperliquidbpOrdersPrice spread, now +0.235%Rate

Funding earned: $95.38
Price spread: +0.235% → +0.185%: $4.94
Slippage, 4 orders: −$58.29
Fee Bitget: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $21.03
Costs to cover: 0.793%
Break-even: 5.5 days

Slippage from Bitget: live order book, 5 min ago; Hyperliquid: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Bitget live order book, 5 min ago	3.91 bp	21.1 bp −$21	71.1 bp −$711	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 4 min ago	2.60 bp	21.2 bp −$21	doesn't fit	doesn't fit	doesn't fit

REZ on 12 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster REZUSDT	+0.0100%	4h	0.003835	−0.056%	$18K	$36K	5x	as long as short
Binance REZUSDT	+0.0100%	4h	0.003838	+0.026%	$4.9M	$8.8M	50x	as long as short
Bybit REZUSDT	+0.0100%	4h	0.003844	+0.182%	$1.4M	$1.1M	25x	as long as short
Gate REZ_USDT	+0.0100%	4h	0.003844	+0.182%	$397K	$126K	10x	as long as short
MEXC REZ_USDT	+0.0100%	4h	0.003837	0.000%	$1.3M	$415K	50x	as long as short
KuCoin REZUSDTM	+0.0100%	4h	0.003837	0.000%	$451K	$93K	30x	as long as short
Bitget REZUSDTlong	+0.0100%	4h	0.003837	long leg	$600K	$1.2M	50x
BingX REZ-USDT	+0.0100%	4h	0.003839	+0.052%	—	$6.6M	—	as long as short
Variational Omni REZ	+0.0100%	4h	0.003843	+0.155%	$78K	$40K	—	as long as short
BloFin REZ-USDT	+0.0157%	4h	0.003836	−0.026%	$325K	$50K	50x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_REZUSD	+0.0217%	1h	0.003839	+0.051%	$44K	$10K	10x	as long as short
Hyperliquid REZshort	+0.0554%	1h	0.003846	+0.235%	$1.6M	$498K	3x