Funding arb · Price arb /

REZ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0498%/8h= −54.6% APRpaid last 24h −0.075%

Price spread now: KuCoin against Hyperliquid−0.260%7-day average −0.191% · you buy dearer than you sell

Net, funding: paid 7d − costs−$262as in the Funding arb table

Net, price: spread back to 7d avg − costs−$255as in the Price arb table

costs, in and out, $10k−$2482.481% of the position

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.138%−$14 on $10k

Price spread, last 4 days (all we have)−0.081%−$8 · spread now −0.260%, 7d avg −0.191%

Together, before fees−0.219%+ Points / potential airdropHyperliquid: Season 2 · farm board−$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and KuCoin is 0.069% cheaper against Hyperliquid than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.191%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.138% in total (about -7.2% 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	0.0598	pay 0.0075% / 1h	9m 31s	$1.6M	$498K	3x
Short	KuCoin REZUSDTM	0.003836	0.0100	get 0.0050% / 4h	9m 31s	$451K	$93K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.260%Rate

Funding earned: −$104.64
Price spread: −0.260% → −0.191%: −$6.86
Slippage, 4 orders: −$227.13
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$359.63
Costs to cover: 2.481%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 1 min ago; KuCoin: live order book, 53 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, 1 min ago	2.60 bp	17.8 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 53 min ago	10.48 bp	105.7 bp −$106	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	−0.280%	$18K	$36K	5x	as long as short
Binance REZUSDT	+0.0100%	4h	0.003836	−0.257%	$4.9M	$8.8M	50x	as long as short
Bybit REZUSDT	+0.0100%	4h	0.003842	−0.104%	$1.4M	$1.0M	25x	as long as short
Gate REZ_USDT	+0.0100%	4h	0.003842	−0.104%	$397K	$126K	10x	as long as short
MEXC REZ_USDT	+0.0100%	4h	0.003836	−0.260%	$1.3M	$415K	50x	as long as short
KuCoin REZUSDTMshort	+0.0100%	4h	0.003836	−0.260%	$451K	$93K	30x
Bitget REZUSDT	+0.0100%	4h	0.003837	−0.234%	$600K	$1.2M	50x	as long as short
BingX REZ-USDT	+0.0100%	4h	0.003838	−0.208%	—	$6.6M	—	as long as short
Variational Omni REZ	+0.0100%	4h	0.003838	−0.209%	$78K	$40K	—	as long as short
BloFin REZ-USDT	+0.0130%	4h	0.003835	−0.286%	$324K	$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	−0.191%	$43K	$10K	10x	as long as short
Hyperliquid REZlong	+0.0598%	1h	0.003846	long leg	$1.6M	$498K	3x