REZ arbitrage explained
Right now Renzo (REZ) trades on 9 venues we scan: 9 perpetual markets, 5 spot markets and 0 DEX pools. The lowest ask is on MEXC perp at $0.003847 and the highest bid on Bybit perp at $0.003854.
The widest REZ perpetual spread is between Binance and Bybit: long REZ on Binance at $0.003847 and short on Bybit at $0.003854 for +0.18% gross, or +0.02% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is 0.000% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best REZ route is to buy spot on Binance and short the perpetual on Bybit: +0.10% gross, -0.10% net, with +0.030% a day of funding on the short leg.
Spot–spot REZ arbitrage (buy on Binance, withdraw, deposit and sell on MEXC) shows -0.03% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.
Small REZ gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.
Related: REZ funding rates · REZ spread charts · Renzo price · arbitrage scanner for all coins.