Funding arb · Price arb /

HMSTR

all HMSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0910%/8h= +99.7% APRpaid last 24h +0.040%

Price spread now: Kraken Futures against Bybit−0.228%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Kraken Futures is 0.228% cheaper against Bybit than usual: you would sell low and buy high (spread −0.228% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$23 on $10k: about 20 hours of funding at the current rate (+$27 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit HMSTRUSDT	0.0001765	0.0100	pay 0.0050% / 4h	2h 31m	$1.5M	$611K	25x
Short	Kraken Futures PF_HMSTRUSD	0.0001761	0.1010	get 0.0126% / 1h	31m 01s	$10K	$11K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bybit. 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 BybitbpFee Kraken FuturesbpOrdersPrice spread, now −0.228%Rate

Funding earned: $191.2
Price spread: −0.228% → 0.000%: −$22.8
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $147.39
Costs to cover: 0.210%
Break-even: 1.6 days

Slippage unknown: Bybit: live order book, 5 min ago; Kraken Futures: no order-book sample. Net counts fees only.

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 Bybit live order book, 5 min ago	2.83 bp	72.7 bp −$73	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.0001764	−0.057%	—	$1.3M	—	as long as short
Aster HMSTRUSDT	+0.0100%	4h	0.0001765	+0.023%	$33K	$7K	5x	as long as short
Binance HMSTRUSDT	+0.0100%	4h	0.0001765	0.000%	$2.2M	$2.4M	10x	as long as short
Bybit HMSTRUSDTlong	+0.0100%	4h	0.0001765	long leg	$1.5M	$611K	25x
OKX HMSTR-USDT-SWAP	+0.0100%	4h	0.0001765	0.000%	$587K	$953K	10x	as long as short
Gate HMSTR_USDT	+0.0100%	4h	0.0001764	−0.057%	$391K	$143K	25x	as long as short
MEXC HMSTR_USDT	+0.0100%	4h	0.0001765	0.000%	$377K	$119K	50x	as long as short
KuCoin HMSTRUSDTM	+0.0100%	4h	0.0001765	0.000%	$247K	$62K	10x	as long as short
Variational Omni HMSTR	+0.0100%	4h	0.0001763	−0.088%	$2K	$2K	—	as long as short
ApeX Omni HMSTRUSDT	+0.0100%	1h	0.0001765	0.000%	$13K	$621K	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	0.0001765	−0.013%	$918	—	5x	as long as short
Kraken Futures PF_HMSTRUSDshort	+0.1010%	1h	0.0001761	−0.228%	$10K	$11K	10x
Hyperliquid HMSTR	+0.2662%	1h	0.0001770	+0.283%	$1.9M	$255K	3x	as long as short