Funding arb · Price arb /

HMSTR

all HMSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0751%/8h= −82.2% APRpaid last 24h −0.484%

Price spread now: BingX against Hyperliquid−0.506%7-day average −0.402% · you buy dearer than you sell

Net, funding: paid 7d − costs−$206as in the Funding arb table

Net, price: spread back to 7d avg − costs−$155as in the Price arb table

costs, in and out, $10k−$1441.442% of the position

Long on Hyperliquid Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.616%−$62 on $10k

Price spread, last 7 days+0.092%+$9 · spread now −0.506%, 7d avg −0.402%

Together, before fees−0.524%+ Points / potential airdropHyperliquid: Season 2 · farm board−$52 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$23 a day on $10k at the current rate, and BingX is 0.104% cheaper against Hyperliquid than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.402%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid HMSTR	0.0001780	0.0821	pay 0.0103% / 1h	2m 31s	$2.0M	$176K	3x
Short	BingX HMSTR-USDT	0.0001771	0.0070	get 0.0035% / 4h	1h 02m	—	$1.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Hyperliquid. 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 HyperliquidbpFee BingXbpOrdersPrice spread, now −0.506%Rate

Funding earned: −$157.65
Price spread: −0.506% → −0.402%: −$10.37
Slippage, 4 orders: −$125.16
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$312.18
Costs to cover: 1.442%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 8 min ago; BingX: live order book, 8 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 Hyperliquid live order book, 8 min ago	28.01 bp	51.5 bp −$51	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 8 min ago	5.65 bp	15.3 bp −$15	57.2 bp −$572	694.5 bp −$69.4K	1006.9 bp −$503.5K

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	0.0001769	−0.608%	$10K	$11K	10x	as long as short
BingX HMSTR-USDTshort	+0.0070%	4h	0.0001771	−0.506%	—	$1.3M	—
Aster HMSTRUSDT	+0.0100%	4h	0.0001771	−0.517%	$33K	$7K	5x	as long as short
Binance HMSTRUSDT	+0.0100%	4h	0.0001771	−0.522%	$2.2M	$2.2M	10x	as long as short
Bybit HMSTRUSDT	+0.0100%	4h	0.0001770	−0.562%	$1.5M	$581K	25x	as long as short
OKX HMSTR-USDT-SWAP	+0.0100%	4h	0.0001772	−0.449%	$591K	$900K	10x	as long as short
Gate HMSTR_USDT	+0.0100%	4h	0.0001770	−0.562%	$389K	$141K	25x	as long as short
MEXC HMSTR_USDT	+0.0100%	4h	0.0001770	−0.562%	$388K	$119K	50x	as long as short
KuCoin HMSTRUSDTM	+0.0100%	4h	0.0001771	−0.506%	$247K	$60K	10x	as long as short
Variational Omni HMSTR	+0.0100%	4h	0.0001771	−0.491%	$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	0.0001769	−0.618%	$13K	$614K	50x	as long as short
Extended kHMSTR-USD	+0.0104%	1h	0.0001770	−0.582%	$923	—	5x	as long as short
Hyperliquid HMSTRlong	+0.0821%	1h	0.0001780	long leg	$2.0M	$176K	3x