Funding arb · Price arb /

HMSTR

all HMSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0936%/8h= −102.5% APRpaid last 24h −0.069%

Price spread now: Bybit against Kraken Futures−0.110%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Bybit

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

Both sides work against this trade now: funding costs −$28 a day on $10k at the current rate, and Bybit is 0.110% cheaper against Kraken Futures than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_HMSTRUSD	0.0001773	0.1036	pay 0.0129% / 1h	5m 07s	$10K	$7K	10x
Short	Bybit HMSTRUSDT	0.0001771	0.0100	get 0.0050% / 4h	2h 05m	$1.4M	$607K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Kraken Futures. 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 Kraken FuturesbpFee BybitbpOrdersPrice spread, now −0.110%Rate

Funding earned: −$196.48
Price spread: −0.110% → 0.000%: −$10.99
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$228.47
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Bybit: live order book, 1 min ago. 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Bybit live order book, 1 min ago	2.82 bp	43.7 bp −$44	doesn't fit	doesn't fit	doesn't fit

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	0.0001771	−0.110%	—	$1.3M	—	as long as short
Aster HMSTRUSDT	+0.0100%	4h	0.0001772	−0.054%	$33K	$7K	5x	as long as short
Binance HMSTRUSDT	+0.0100%	4h	0.0001770	−0.138%	$2.2M	$2.0M	10x	as long as short
Bybit HMSTRUSDTshort	+0.0100%	4h	0.0001771	−0.110%	$1.4M	$607K	25x
OKX HMSTR-USDT-SWAP	+0.0100%	4h	0.0001772	−0.054%	$599K	$791K	10x	as long as short
Gate HMSTR_USDT	+0.0100%	4h	0.0001771	−0.110%	$403K	$163K	25x	as long as short
MEXC HMSTR_USDT	+0.0100%	4h	0.0001770	−0.166%	$385K	$118K	50x	as long as short
KuCoin HMSTRUSDTM	+0.0100%	4h	0.0001771	−0.110%	$252K	$49K	10x	as long as short
Variational Omni HMSTR	+0.0100%	4h	0.0001770	−0.156%	$2K	$919	—	as long as short
ApeX Omni HMSTRUSDT	+0.0100%	1h	0.0001769	−0.223%	$13K	$611K	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	−0.164%	$923	—	5x	as long as short
Kraken Futures PF_HMSTRUSDlong	+0.1036%	1h	0.0001773	long leg	$10K	$7K	10x
Hyperliquid HMSTR	+0.1974%	1h	0.0001780	+0.398%	$2.0M	$116K	3x	as long as short