Funding arb · Price arb /

REZ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0501%/8h= −54.8% APRpaid last 24h −0.109%

Price spread now: KuCoin against Hyperliquid−0.258%7-day average −0.195% · you buy dearer than you sell

Net, funding: paid 7d − costs−$286as in the Funding arb table

Net, price: spread back to 7d avg − costs−$275as in the Price arb table

costs, in and out, $10k−$2692.688% of the position

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.171%−$17 on $10k

Price spread, last 4 days (all we have)−0.246%−$25 · spread now −0.258%, 7d avg −0.195%

Together, before fees−0.417%+ Points / potential airdropHyperliquid: Season 2 · farm board−$42 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 0.063% cheaper against Hyperliquid than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.195%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.171% in total (about -8.9% 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	0.003874	0.0601	pay 0.0075% / 1h	20m 56s	$1.6M	$495K	3x
Short	KuCoin REZUSDTM	0.003864	0.0100	get 0.0050% / 4h	20m 56s	$452K	$81K	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 −0.258%Rate

Funding earned: −$105.13
Price spread: −0.258% → −0.195%: −$6.3
Slippage, 4 orders: −$247.84
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$380.27
Costs to cover: 2.688%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; KuCoin: live order book, 62 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, 10 min ago	3.86 bp	29.6 bp −$30	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 62 min ago	11.56 bp	115.7 bp −$116	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	0.003866	−0.208%	$18K	$35K	5x	as long as short
Binance REZUSDT	+0.0100%	4h	0.003867	−0.181%	$4.9M	$8.5M	50x	as long as short
Bybit REZUSDT	+0.0100%	4h	0.003873	−0.026%	$1.4M	$974K	25x	as long as short
Gate REZ_USDT	+0.0100%	4h	0.003871	−0.077%	$397K	$111K	10x	as long as short
MEXC REZ_USDT	+0.0100%	4h	0.003866	−0.207%	$1.4M	$411K	50x	as long as short
KuCoin REZUSDTMshort	+0.0100%	4h	0.003864	−0.258%	$452K	$81K	30x
Bitget REZUSDT	+0.0100%	4h	0.003865	−0.232%	$589K	$1.2M	50x	as long as short
BingX REZ-USDT	+0.0100%	4h	0.003869	−0.129%	—	$6.6M	—	as long as short
Variational Omni REZ	+0.0100%	4h	0.003873	−0.031%	$78K	$38K	—	as long as short
BloFin REZ-USDT	+0.0107%	4h	0.003867	−0.181%	$321K	$47K	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	+0.0304%	1h	0.003866	−0.209%	$44K	$10K	10x	as long as short
Hyperliquid REZlong	+0.0601%	1h	0.003874	long leg	$1.6M	$495K	3x