Funding arb · Price arb /

REZ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0474%/8h= −51.9% APRpaid last 24h −0.056%

Price spread now: BingX against Hyperliquid−0.284%7-day average −0.122% · you buy dearer than you sell

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$850.855% of the position

Long on Hyperliquid Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.116%−$12 on $10k

Price spread, last 7 days+0.175%+$17 · spread now −0.284%, 7d avg −0.122%

Together, before fees+0.058%+ Points / potential airdropHyperliquid: Season 2 · farm board+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and BingX is 0.163% cheaper against Hyperliquid than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.122%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.116% in total (about -6.1% 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	0.003867	0.0932	pay 0.0116% / 1h	16m 09s	$1.6M	$496K	3x
Short	BingX REZ-USDT	0.003856	0.0458	get 0.0229% / 4h	3h 16m	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.284%Rate

Funding earned: −$99.45
Price spread: −0.284% → −0.122%: −$16.29
Slippage, 4 orders: −$66.49
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$201.23
Costs to cover: 0.855%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 4 min ago; BingX: live order book, 6 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	2.59 bp	21.0 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 6 min ago	3.90 bp	23.3 bp −$23	50.8 bp −$508	416.2 bp −$41.6K	770.0 bp −$385.0K

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	0.003852	−0.381%	$18K	$36K	5x	as long as short
Binance REZUSDT	+0.0100%	4h	0.003859	−0.195%	$5.0M	$8.6M	50x	as long as short
MEXC REZ_USDT	+0.0100%	4h	0.003858	−0.233%	$1.3M	$412K	50x	as long as short
KuCoin REZUSDTM	+0.0100%	4h	0.003853	−0.362%	$451K	$91K	30x	as long as short
Bitget REZUSDT	+0.0100%	4h	0.003852	−0.388%	$625K	$1.2M	50x	as long as short
Variational Omni REZ	+0.0100%	4h	0.003864	−0.067%	$78K	$40K	—	as long as short
Gate REZ_USDT	+0.0110%	4h	0.003855	−0.310%	$398K	$122K	10x	as long as short
BloFin REZ-USDT	+0.0147%	4h	0.003850	−0.440%	$325K	$50K	50x	as long as short
Kraken Futures PF_REZUSD	+0.0271%	1h	0.003857	−0.254%	$44K	$10K	10x	as long as short
BingX REZ-USDTshort	+0.0458%	4h	0.003856	−0.284%	—	$6.6M	—

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit REZUSDT	+0.0486%	4h	0.003862	−0.129%	$1.4M	$1.0M	25x	as long as short
Hyperliquid REZlong	+0.0932%	1h	0.003867	long leg	$1.6M	$496K	3x