Funding arb · Price arb /

HMSTR

all HMSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0474%/8h= +51.9% APRpaid last 24h +0.475%

Price spread now: Hyperliquid against Gate+0.622%7-day average +0.369% · you sell dearer than you buy

Net, funding: paid 7d − costs−$280as in the Funding arb table

Net, price: spread back to 7d avg − costs−$316as in the Price arb table

costs, in and out, $10k−$3413.412% of the position

Long on Gate Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.609%+$61 on $10k

Price spread, last 4 days (all we have)−0.402%−$40 · spread now +0.622%, 7d avg +0.369%

Together, before fees+0.207%+ Points / potential airdropHyperliquid: Season 2 · farm board+$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Hyperliquid is 0.252% dearer against Gate than usual: you sell high and buy low: +$25 more if the spread goes back to its 7-day average of +0.369%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate HMSTR_USDT	0.0001769	0.0100	pay 0.0050% / 4h	1h 24m	$389K	$140K	25x
Short	Hyperliquid HMSTR	0.0001780	0.0574	get 0.0072% / 1h	24m 44s	$2.0M	$187K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Gate. 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 GatebpFee HyperliquidbpOrdersPrice spread, now +0.622%Rate

Funding earned: $99.63
Price spread: +0.622% → +0.369%: $25.23
Slippage, 4 orders: −$317.19
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$216.33
Costs to cover: 3.412%
Break-even: 22.2 days

Slippage from Gate: live order book, 56 min ago; Hyperliquid: live order book, 6 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 Gate live order book, 56 min ago	8.49 bp	148.3 bp −$148	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 6 min ago	28.01 bp	81.2 bp −$81	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
Kraken Futures PF_HMSTRUSD	−0.0894%	1h	0.0001770	+0.053%	$10K	$11K	10x	as long as short
BingX HMSTR-USDT	+0.0070%	4h	0.0001770	+0.057%	—	$1.3M	—	as long as short
Aster HMSTRUSDT	+0.0100%	4h	0.0001771	+0.090%	$33K	$7K	5x	as long as short
Binance HMSTRUSDT	+0.0100%	4h	0.0001771	+0.141%	$2.2M	$2.2M	10x	as long as short
Bybit HMSTRUSDT	+0.0100%	4h	0.0001770	+0.057%	$1.4M	$571K	25x	as long as short
OKX HMSTR-USDT-SWAP	+0.0100%	4h	0.0001771	+0.113%	$590K	$908K	10x	as long as short
Gate HMSTR_USDTlong	+0.0100%	4h	0.0001769	long leg	$389K	$140K	25x
MEXC HMSTR_USDT	+0.0100%	4h	0.0001771	+0.113%	$386K	$117K	50x	as long as short
KuCoin HMSTRUSDTM	+0.0100%	4h	0.0001769	0.000%	$247K	$59K	10x	as long as short
Variational Omni HMSTR	+0.0100%	4h	0.0001770	+0.072%	$2K	$920	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni HMSTRUSDT	+0.0100%	1h	0.0001767	−0.113%	$13K	$613K	50x	as long as short
Extended kHMSTR-USD	+0.0104%	1h	0.0001771	+0.088%	$923	—	5x	as long as short
Hyperliquid HMSTRshort	+0.0574%	1h	0.0001780	+0.622%	$2.0M	$187K	3x