Quantitative Developer, Liquidity

Relay is a cross-chain payments protocol that provides instant, low-cost cross-chain bridging, swaps, and transactions. We’re the fastest and cheapest way to bridge and transact across chains, serving over 5 million users who have completed 59+ million transactions with $6+ billion in volume across 85+ chains.

Our company mission is to make transacting across chains as fast, cheap, and reliable as online payments. We are building the core infrastructure to abstract chains from end user payments, enabling the next billion users to experience the benefits of blockchain without the UX burdens.

The Liquidity team keeps Relay’s liquidity reliable, competitively priced, capital-efficient, and within its risk framework. Reporting to the Head of Liquidity, you will be one of the first members of this newly formed team, helping define its operating model while owning the day-to-day health of liquidity across assets, chains, wallets, CEXs, bridges, and in-flight rebalances.

We are looking for a quantitative generalist who will own the analysis, model development, validation, monitoring, and recommendations that make liquidity decisions rigorous and executable. In this role, you may take on such projects as improving portfolio management and delta-hedging logic, optimizing execution and rebalance costs, and designing a better pricing solution for a client across multiple chains and assets.

This is a high-ownership, production-facing role, not a research-only position. You will take ambiguous quantitative problems through analysis, production implementation, monitoring, and live operation, with direct impact on pricing competitiveness, execution quality, P&L, capital efficiency, and risk. We work agentic-first: AI agents accelerate research, analysis, coding, testing, and monitoring, while people remain accountable for methodology, risk, and production decisions.

We are looking for candidates who are currently located in or can work full-time in either US West Coast (Pacific Standard Time) or APAC timezones.

Build portfolio and hedging models

• Develop portfolio-management and inventory-allocation models across assets, chains, venues, and liquidity systems

• Develop and recommend target positions, delta-hedging policies, exposure limits, stress responses, and safe hedge-execution logic for approval within the team’s liquidity and risk framework

• Model capital requirements and opportunity costs so liquidity can be allocated where it creates the most value

• Connect model decisions to realized positions, P&L, capital usage, and risk outcomes

Optimize execution and rebalancing

• Measure execution and rebalance costs across fees, slippage, timing, price impact, and operational failure modes

• Optimize route choice across bridges, CEXs, single-hop and multi-hop paths, and alternative liquidity providers

• Develop decision rules for rebalance confidence, route duration, provider enablement, and when not to execute

• Use live and historical data to improve execution quality, predictability, and capital efficiency

Build pricing across assets, chains, and clients

• Develop client-pricing and fee models across routes, assets, chains, transaction sizes, and market conditions.

• Design fixed-spread, dynamic-fee, and surge-pricing approaches that remain competitive while covering execution, rebalance, capital, and risk costs.

• Evaluate pricing for new client requirements and identify low-liquidity routes, exclusions, capacity limits, and required safeguards.

• Define quantitative inputs for haircuts, seed limits, asset and chain onboarding, and new liquidity mechanisms.

Put models into production and operate them

• Backtest and validate strategies using realistic costs, out-of-sample testing, scenario analysis,…