Funding arb · Price arb /

REZ

all REZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0519%/8h= −56.9% APRpaid last 24h −0.153%

Price spread now: BloFin against Hyperliquid−0.181%7-day average −0.217% · you buy dearer than you sell

Net, funding: paid 7d − costs−$114as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$730.735% of the position

Long on Hyperliquid Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.402%−$40 on $10k

Price spread, last 4 days (all we have)+0.104%+$10 · spread now −0.181%, 7d avg −0.217%

Together, before fees−0.298%+ Points / potential airdropHyperliquid: Season 2 · farm board−$30 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.036% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.181% now, against its 7-day average of −0.217%): +$4 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 6 hours. At the pace of the last 7 days (−0.402% in total) that is about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid REZ	0.003870	0.0663	pay 0.0083% / 1h	42m 26s	$1.6M	$505K	3x
Short	BloFin REZ-USDT	0.003863	0.0144	get 0.0072% / 4h	42m 26s	$320K	$42K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.181%Rate

Funding earned: −$109.04
Price spread: −0.181% → −0.217%: $3.64
Slippage, 4 orders: −$52.48
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$178.88
Costs to cover: 0.735%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 8 min ago; BloFin: live order book, 37 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, 8 min ago	2.60 bp	24.4 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 37 min ago	7.68 bp	16.0 bp −$16	55.6 bp −$556	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	0.003864	−0.164%	$18K	$39K	5x	as long as short
Binance REZUSDT	+0.0100%	4h	0.003864	−0.163%	$4.9M	$8.3M	50x	as long as short
MEXC REZ_USDT	+0.0100%	4h	0.003860	−0.258%	$1.4M	$402K	50x	as long as short
KuCoin REZUSDTM	+0.0100%	4h	0.003864	−0.155%	$451K	$74K	30x	as long as short
Bitget REZUSDT	+0.0100%	4h	0.003866	−0.103%	$614K	$1.2M	50x	as long as short
BloFin REZ-USDTshort	+0.0144%	4h	0.003863	−0.181%	$320K	$42K	50x
Gate REZ_USDT	+0.0210%	4h	0.003866	−0.103%	$388K	$111K	10x	as long as short
Variational Omni REZ	+0.0230%	4h	0.003868	−0.058%	$88K	$49K	—	as long as short
Bybit REZUSDT	+0.0461%	4h	0.003870	0.000%	$1.5M	$1.0M	25x	as long as short
BingX REZ-USDT	+0.0462%	4h	0.003866	−0.103%	—	$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	+0.0583%	1h	0.003862	−0.219%	$44K	$10K	10x	as long as short
Hyperliquid REZlong	+0.0663%	1h	0.003870	long leg	$1.6M	$505K	3x