Smartphones, tablets and camera systems used, e.g., in cars and UAVs, are typically equipped with IMUs (inertial measurement units) that can measure the gravity vector accurately. Using this additional information, the y-axes of the cameras can be aligned, reducing their relative orientation to a single degree-of-freedom. With this assumption, we propose a novel globally optimal solver, minimizing the algebraic error in the least squares sense, to estimate the relative pose in the over-determined case. Based on the epipolar constraint, we convert the optimization problem into solving two polynomials with only two unknowns. Also, a fast solver is proposed using the first-order approximation of the rotation. The proposed solvers are compared with the state-of-the-art ones on four real-world datasets with approx. 50000 image pairs in total. Moreover, we collected a dataset, by a smartphone, consisting of 10933 image pairs, gravity directions and ground truth 3D reconstructions. The source code and dataset are available at https://github.com/yaqding/opt_pose_gravity