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: Gate against Hyperliquid−0.052%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$184as in the Funding arb table

Net, price: spread back to 7d avg − costs−$176as in the Price arb table

costs, in and out, $10k−$1761.761% of the position

Long on Hyperliquid Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.077%−$8 on $10k

Price spread, last 4 days (all we have)−0.099%−$10 · spread now −0.052%, 7d avg −0.049%

Together, before fees−0.176%+ Points / potential airdropHyperliquid: Season 2 · farm board−$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.049%, so right now this pair is about funding alone: −$14 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.077% in total (about -4.0% 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	Hyperliquid REZ	0.003846	0.0554	pay 0.0069% / 1h	16m 18s	$1.6M	$498K	3x
Short	Gate REZ_USDT	0.003844	0.0100	get 0.0050% / 4h	16m 18s	$397K	$126K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Hyperliquid. 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 HyperliquidbpFee GatebpOrdersPrice spread, now −0.052%Rate

Funding earned: −$95.38
Price spread: −0.052% → −0.049%: −$0.25
Slippage, 4 orders: −$152.14
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$271.77
Costs to cover: 1.761%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 4 min ago; Gate: live order book, 59 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 Hyperliquid live order book, 4 min ago	2.60 bp	16.4 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 59 min ago	6.54 bp	73.1 bp −$73	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	−0.290%	$18K	$36K	5x	as long as short
Binance REZUSDT	+0.0100%	4h	0.003838	−0.208%	$4.9M	$8.8M	50x	as long as short
Bybit REZUSDT	+0.0100%	4h	0.003844	−0.052%	$1.4M	$1.1M	25x	as long as short
Gate REZ_USDTshort	+0.0100%	4h	0.003844	−0.052%	$397K	$126K	10x
MEXC REZ_USDT	+0.0100%	4h	0.003837	−0.234%	$1.3M	$415K	50x	as long as short
KuCoin REZUSDTM	+0.0100%	4h	0.003837	−0.234%	$451K	$93K	30x	as long as short
Bitget REZUSDT	+0.0100%	4h	0.003837	−0.234%	$600K	$1.2M	50x	as long as short
BingX REZ-USDT	+0.0100%	4h	0.003839	−0.182%	—	$6.6M	—	as long as short
Variational Omni REZ	+0.0100%	4h	0.003843	−0.079%	$78K	$40K	—	as long as short
BloFin REZ-USDT	+0.0157%	4h	0.003836	−0.260%	$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	−0.183%	$44K	$10K	10x	as long as short
Hyperliquid REZlong	+0.0554%	1h	0.003846	long leg	$1.6M	$498K	3x