Funding arb · Price arb /

REZ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0528%/8h= +57.9% APRpaid last 24h +0.075%

Price spread now: Hyperliquid against MEXC+0.286%7-day average +0.184% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$560.559% of the position

Long on MEXC Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.324%+$32 on $10k

Price spread, last 7 days−0.092%−$9 · spread now +0.286%, 7d avg +0.184%

Together, before fees+0.233%+ Points / potential airdropHyperliquid: Season 2 · farm board+$23 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Hyperliquid is 0.102% dearer against MEXC than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.184%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.324% in total (about 16.9% 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	MEXC REZ_USDT	0.003843	0.0100	pay 0.0050% / 4h	1m 18s	$1.3M	$419K	50x
Short	Hyperliquid REZ	0.003854	0.0628	get 0.0079% / 1h	1m 18s	$1.6M	$499K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against MEXC. 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 MEXCbpFee HyperliquidbpOrdersPrice spread, now +0.286%Rate

Funding earned: $110.97
Price spread: +0.286% → +0.184%: $10.19
Slippage, 4 orders: −$42.92
Fee MEXC: 2 bp × 2 orders: −$4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $65.25
Costs to cover: 0.559%
Break-even: 2.9 days

Slippage from MEXC: live order book, 5 min ago; Hyperliquid: live order book, 9 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 MEXC live order book, 5 min ago	1.30 bp	8.5 bp −$8	21.0 bp −$210	150.0 bp −$15.0K	doesn't fit
Sell Hyperliquid live order book, 9 min ago	2.60 bp	20.8 bp −$21	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	+0.0044%	4h	0.003851	+0.208%	$323K	$50K	50x	as long as short
Aster REZUSDT	+0.0100%	4h	0.003846	+0.074%	$18K	$36K	5x	as long as short
Binance REZUSDT	+0.0100%	4h	0.003845	+0.053%	$4.9M	$8.8M	50x	as long as short
Bybit REZUSDT	+0.0100%	4h	0.003852	+0.234%	$1.4M	$1.1M	25x	as long as short
Gate REZ_USDT	+0.0100%	4h	0.003851	+0.208%	$398K	$126K	10x	as long as short
MEXC REZ_USDTlong	+0.0100%	4h	0.003843	long leg	$1.3M	$419K	50x
KuCoin REZUSDTM	+0.0100%	4h	0.003845	+0.052%	$452K	$93K	30x	as long as short
Bitget REZUSDT	+0.0100%	4h	0.003845	+0.052%	$607K	$1.2M	50x	as long as short
BingX REZ-USDT	+0.0100%	4h	0.003846	+0.078%	—	$6.6M	—	as long as short
Variational Omni REZ	+0.0100%	4h	0.003849	+0.169%	$78K	$40K	—	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	+0.0216%	1h	0.003848	+0.125%	$44K	$10K	10x	as long as short
Hyperliquid REZshort	+0.0628%	1h	0.003854	+0.286%	$1.6M	$499K	3x