Funding arb · Price arb /

REZ

all REZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0657%/8h= −71.9% APRpaid last 24h −0.081%

Price spread now: Gate against Hyperliquid−0.052%7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$180as in the Funding arb table

Net, price: spread back to 7d avg − costs−$172as in the Price arb table

costs, in and out, $10k−$1721.715% of the position

Long on Hyperliquid Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.084%−$8 on $10k

Price spread, last 4 days (all we have)−0.048%−$5 · spread now −0.052%, 7d avg −0.051%

Together, before fees−0.131%+ Points / potential airdropHyperliquid: Season 2 · farm board−$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.051%, so right now this pair is about funding alone: −$20 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.084% in total (about -4.4% 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	0.003826	0.0775	pay 0.0097% / 1h	53m 59s	$1.6M	$498K	3x
Short	Gate REZ_USDT	0.003824	0.0118	get 0.0059% / 4h	2h 53m	$394K	$120K	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 −0.052%Rate

Funding earned: −$137.93
Price spread: −0.052% → −0.051%: −$0.15
Slippage, 4 orders: −$147.5
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$309.59
Costs to cover: 1.715%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 7 min ago; Gate: live order book, 11 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, 7 min ago	2.60 bp	21.7 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 11 min ago	9.03 bp	70.8 bp −$71	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
BloFin REZ-USDT	+0.0050%	4h	0.003807	−0.497%	$325K	$49K	50x	as long as short
Aster REZUSDT	+0.0100%	4h	0.003813	−0.328%	$18K	$36K	5x	as long as short
Binance REZUSDT	+0.0100%	4h	0.003815	−0.279%	$4.9M	$8.7M	50x	as long as short
MEXC REZ_USDT	+0.0100%	4h	0.003818	−0.209%	$1.3M	$407K	50x	as long as short
KuCoin REZUSDTM	+0.0100%	4h	0.003819	−0.183%	$447K	$91K	30x	as long as short
Bitget REZUSDT	+0.0100%	4h	0.003816	−0.261%	$619K	$1.3M	50x	as long as short
Variational Omni REZ	+0.0100%	4h	0.003808	−0.473%	$77K	$40K	—	as long as short
Gate REZ_USDTshort	+0.0118%	4h	0.003824	−0.052%	$394K	$120K	10x
Bybit REZUSDT	+0.0227%	4h	0.003820	−0.157%	$1.4M	$1.0M	25x	as long as short
Kraken Futures PF_REZUSD	+0.0323%	1h	0.003814	−0.305%	$43K	$10K	10x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX REZ-USDT	+0.0370%	4h	0.003815	−0.288%	—	$6.6M	—	as long as short
Hyperliquid REZlong	+0.0775%	1h	0.003826	long leg	$1.6M	$498K	3x