Funding arb · Price arb /

HMSTR

all HMSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1153%/8h= +126.3% APRpaid last 24h +0.428%

Price spread now: Hyperliquid against Binance+0.525%7-day average +0.383% · you sell dearer than you buy

Net, funding: paid 7d − costs−$107as in the Funding arb table

Net, price: spread back to 7d avg − costs−$162as in the Price arb table

costs, in and out, $10k−$1761.760% of the position

Long on Binance Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.687%+$69 on $10k

Price spread, last 7 days−0.161%−$16 · spread now +0.525%, 7d avg +0.383%

Together, before fees+0.527%+ Points / potential airdropHyperliquid: Season 2 · farm board+$53 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$35 a day on $10k at the current rate, and Hyperliquid is 0.142% dearer against Binance than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.383%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.687% in total (about 35.8% 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	Binance HMSTRUSDT	0.0001771	0.0100	pay 0.0050% / 4h	57m 09s	$2.2M	$1.9M	10x
Short	Hyperliquid HMSTR	0.0001780	0.1253	get 0.0157% / 1h	57m 09s	$2.0M	$115K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Binance. 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 BinancebpFee HyperliquidbpOrdersPrice spread, now +0.525%Rate

Funding earned: $242.21
Price spread: +0.525% → +0.383%: $14.22
Slippage, 4 orders: −$156.99
Fee Binance: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $80.44
Costs to cover: 1.760%
Break-even: 4.7 days

Slippage from Binance: live order book, 7 min ago; Hyperliquid: live order book, 4 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 Binance live order book, 7 min ago	2.82 bp	19.5 bp −$19	267.1 bp −$2,671	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 4 min ago	28.01 bp	64.8 bp −$65	doesn't fit	doesn't fit	doesn't fit

HMSTR on 13 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
BingX HMSTR-USDT	+0.0070%	4h	0.0001770	−0.040%	—	$1.3M	—	as long as short
Aster HMSTRUSDT	+0.0100%	4h	0.0001770	−0.051%	$33K	$7K	5x	as long as short
Binance HMSTRUSDTlong	+0.0100%	4h	0.0001771	long leg	$2.2M	$1.9M	10x
Bybit HMSTRUSDT	+0.0100%	4h	0.0001770	−0.040%	$1.4M	$593K	25x	as long as short
OKX HMSTR-USDT-SWAP	+0.0100%	4h	0.0001771	+0.017%	$602K	$742K	10x	as long as short
Gate HMSTR_USDT	+0.0100%	4h	0.0001769	−0.096%	$403K	$146K	25x	as long as short
MEXC HMSTR_USDT	+0.0100%	4h	0.0001770	−0.040%	$387K	$114K	50x	as long as short
KuCoin HMSTRUSDTM	+0.0100%	4h	0.0001771	+0.017%	$257K	$49K	10x	as long as short
Variational Omni HMSTR	+0.0100%	4h	0.0001771	+0.025%	$2K	$919	—	as long as short
ApeX Omni HMSTRUSDT	+0.0100%	1h	0.0001771	+0.017%	$13K	$609K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended kHMSTR-USD	+0.0104%	1h	0.0001770	−0.036%	$923	—	5x	as long as short
Kraken Futures PF_HMSTRUSD	+0.1115%	1h	0.0001774	+0.198%	$10K	$7K	10x	as long as short
Hyperliquid HMSTRshort	+0.1253%	1h	0.0001780	+0.525%	$2.0M	$115K	3x