Funding arb · Price arb /

HMSTR

all HMSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.2539%/8h= −278.0% APRpaid last 24h −0.413%

Price spread now: Gate against Hyperliquid−0.449%7-day average −0.374% · you buy dearer than you sell

Net, funding: paid 7d − costs−$278as in the Funding arb table

Net, price: spread back to 7d avg − costs−$218as in the Price arb table

costs, in and out, $10k−$2102.104% of the position

Long on Hyperliquid Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.675%−$67 on $10k

Price spread, last 4 days (all we have)+0.342%+$34 · spread now −0.449%, 7d avg −0.374%

Together, before fees−0.333%+ Points / potential airdropHyperliquid: Season 2 · farm board−$33 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$76 a day on $10k at the current rate, and Gate is 0.075% cheaper against Hyperliquid than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.374%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.675% in total (about -35.2% 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	Hyperliquid HMSTR	0.0001780	0.2639	pay 0.0330% / 1h	52m 48s	$2.0M	$117K	3x
Short	Gate HMSTR_USDT	0.0001772	0.0100	get 0.0050% / 4h	2h 52m	$395K	$146K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.449%Rate

Funding earned: −$533.13
Price spread: −0.449% → −0.374%: −$7.53
Slippage, 4 orders: −$186.39
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$751.05
Costs to cover: 2.104%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 8 min ago; Gate: live order book, 13 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	66.9 bp −$67	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 13 min ago	5.60 bp	56.6 bp −$57	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	0.0001774	−0.337%	—	$1.3M	—	as long as short
Aster HMSTRUSDT	+0.0100%	4h	0.0001772	−0.433%	$33K	$7K	5x	as long as short
Binance HMSTRUSDT	+0.0100%	4h	0.0001775	−0.281%	$2.2M	$2.1M	10x	as long as short
Bybit HMSTRUSDT	+0.0100%	4h	0.0001775	−0.281%	$1.5M	$601K	25x	as long as short
OKX HMSTR-USDT-SWAP	+0.0100%	4h	0.0001775	−0.281%	$594K	$851K	10x	as long as short
Gate HMSTR_USDTshort	+0.0100%	4h	0.0001772	−0.449%	$395K	$146K	25x
MEXC HMSTR_USDT	+0.0100%	4h	0.0001774	−0.337%	$386K	$115K	50x	as long as short
KuCoin HMSTRUSDTM	+0.0100%	4h	0.0001772	−0.449%	$249K	$48K	10x	as long as short
Variational Omni HMSTR	+0.0100%	4h	0.0001769	−0.605%	$2K	$920	—	as long as short
ApeX Omni HMSTRUSDT	+0.0100%	1h	0.0001772	−0.449%	$13K	$616K	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	0.0001775	−0.305%	$924	—	5x	as long as short
Kraken Futures PF_HMSTRUSD	+0.1034%	1h	0.0001775	−0.273%	$10K	$7K	10x	as long as short
Hyperliquid HMSTRlong	+0.2639%	1h	0.0001780	long leg	$2.0M	$117K	3x