Funding arb · Price arb /

REZ

all REZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0036%/8h= −3.9% APRpaid last 24h −0.065%

Price spread now: Variational Omni against Hyperliquid−0.378%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · Variational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Variational Omni is 0.378% cheaper against Hyperliquid than usual: you would sell low and buy high (−$38 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid REZ	0.003832	0.0136	pay 0.0017% / 1h	37m 32s	$1.6M	$504K	3x
Short	Variational Omni REZ	0.003818	0.0100	get 0.0050% / 4h	2h 37m	$77K	$47K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.378%Rate

Funding earned: −$7.55
Price spread: −0.378% → 0.000%: −$37.79
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$54.34
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 3 min ago; Variational Omni: no order-book sample. Net counts fees only.

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, 3 min ago	2.61 bp	26.9 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

Variational Omni: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	+0.0097%	4h	0.003823	−0.235%	$329K	$50K	50x	as long as short
Aster REZUSDT	+0.0100%	4h	0.003820	−0.305%	$18K	$37K	5x	as long as short
Binance REZUSDT	+0.0100%	4h	0.003823	−0.239%	$4.9M	$8.9M	50x	as long as short
Gate REZ_USDT	+0.0100%	4h	0.003820	−0.313%	$396K	$127K	10x	as long as short
MEXC REZ_USDT	+0.0100%	4h	0.003821	−0.287%	$1.3M	$443K	50x	as long as short
KuCoin REZUSDTM	+0.0100%	4h	0.003821	−0.287%	$452K	$94K	30x	as long as short
Bitget REZUSDT	+0.0100%	4h	0.003825	−0.183%	$602K	$1.2M	50x	as long as short
Variational Omni REZshort	+0.0100%	4h	0.003818	−0.378%	$77K	$47K	—
Bybit REZUSDT	+0.0101%	4h	0.003829	−0.078%	$1.5M	$1.0M	25x	as long as short
BingX REZ-USDT	+0.0102%	4h	0.003824	−0.209%	—	$6.6M	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid REZlong	+0.0136%	1h	0.003832	long leg	$1.6M	$504K	3x
Kraken Futures PF_REZUSD	+0.0136%	1h	0.003819	−0.335%	$43K	$10K	10x	as long as short