Funding arb · Price arb /

REZ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0433%/8h= −47.4% APRpaid last 24h −0.069%

Price spread now: Gate against Hyperliquid+0.026%7-day average −0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$193as in the Funding arb table

Net, price: spread back to 7d avg − costs−$178as in the Price arb table

costs, in and out, $10k−$1861.857% of the position

Long on Hyperliquid Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.071%−$7 on $10k

Price spread, last 4 days (all we have)−0.262%−$26 · spread now +0.026%, 7d avg −0.050%

Together, before fees−0.333%+ Points / potential airdropHyperliquid: Season 2 · farm board−$33 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.076% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.026% now, against its 7-day average of −0.050%): +$8 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 14 hours. At the pace of the last 7 days (−0.071% in total) that is about 7.5 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.071% in total (about -3.7% 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	0.003813	0.0533	pay 0.0067% / 1h	11m 34s	$1.5M	$501K	3x
Short	Gate REZ_USDT	0.003814	0.0100	get 0.0050% / 4h	1h 11m	$395K	$127K	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 +0.026%Rate

Funding earned: −$90.88
Price spread: +0.026% → −0.050%: $7.6
Slippage, 4 orders: −$161.74
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$269.02
Costs to cover: 1.857%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 9 min ago; Gate: 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 Hyperliquid live order book, 9 min ago	1.31 bp	26.1 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 4 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	0.003805	−0.207%	$18K	$36K	5x	as long as short
Binance REZUSDT	+0.0100%	4h	0.003805	−0.216%	$4.9M	$9.0M	50x	as long as short
Gate REZ_USDTshort	+0.0100%	4h	0.003814	+0.026%	$395K	$127K	10x
MEXC REZ_USDT	+0.0100%	4h	0.003803	−0.262%	$1.3M	$423K	50x	as long as short
KuCoin REZUSDTM	+0.0100%	4h	0.003806	−0.184%	$449K	$95K	30x	as long as short
Bitget REZUSDT	+0.0100%	4h	0.003805	−0.210%	$599K	$1.3M	50x	as long as short
Variational Omni REZ	+0.0100%	4h	0.003807	−0.170%	$77K	$40K	—	as long as short
Bybit REZUSDT	+0.0110%	4h	0.003809	−0.105%	$1.4M	$1.1M	25x	as long as short
BloFin REZ-USDT	+0.0114%	4h	0.003799	−0.367%	$324K	$50K	50x	as long as short
BingX REZ-USDT	+0.0120%	4h	0.003805	−0.210%	—	$6.6M	—	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	+0.0238%	1h	0.003805	−0.198%	$43K	$10K	10x	as long as short
Hyperliquid REZlong	+0.0533%	1h	0.003813	long leg	$1.5M	$501K	3x