Funding arb · Price arb /

HMSTR

all HMSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.4523%/8h= +495.3% APRpaid last 24h +0.407%

Price spread now: Hyperliquid against MEXC+0.622%7-day average +0.359% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$1111.114% of the position

Long on MEXC Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.633%+$63 on $10k

Price spread, last 4 days (all we have)−0.514%−$51 · spread now +0.622%, 7d avg +0.359%

Together, before fees+0.119%+ Points / potential airdropHyperliquid: Season 2 · farm board+$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$136 a day on $10k at the current rate, and Hyperliquid is 0.263% dearer against MEXC than usual: you sell high and buy low: +$26 more if the spread goes back to its 7-day average of +0.359%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.633% in total (about 33.0% 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	MEXC HMSTR_USDT	0.0001769	0.0100	pay 0.0050% / 4h	3h 46m	$387K	$116K	50x
Short	Hyperliquid HMSTR	0.0001780	0.4623	get 0.0578% / 1h	46m 18s	$2.0M	$116K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against MEXC. 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 MEXCbpFee HyperliquidbpOrdersPrice spread, now +0.622%Rate

Funding earned: $949.9
Price spread: +0.622% → +0.359%: $26.32
Slippage, 4 orders: −$98.42
Fee MEXC: 2 bp × 2 orders: −$4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $864.8
Costs to cover: 1.114%
Break-even: 0.6 days

Slippage from MEXC: live order book, 9 min ago; Hyperliquid: live order book, 4 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 MEXC live order book, 9 min ago	2.82 bp	9.2 bp −$9	58.4 bp −$584	157.5 bp −$15.7K	7562.2 bp −$3.78M
Sell Hyperliquid live order book, 4 min ago	28.01 bp	39.9 bp −$40	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	0.0001771	+0.113%	—	$1.3M	—	as long as short
Aster HMSTRUSDT	+0.0100%	4h	0.0001771	+0.119%	$33K	$7K	5x	as long as short
Binance HMSTRUSDT	+0.0100%	4h	0.0001770	+0.057%	$2.2M	$2.1M	10x	as long as short
Bybit HMSTRUSDT	+0.0100%	4h	0.0001770	+0.057%	$1.5M	$598K	25x	as long as short
OKX HMSTR-USDT-SWAP	+0.0100%	4h	0.0001770	+0.057%	$588K	$876K	10x	as long as short
Gate HMSTR_USDT	+0.0100%	4h	0.0001770	+0.057%	$393K	$126K	25x	as long as short
MEXC HMSTR_USDTlong	+0.0100%	4h	0.0001769	long leg	$387K	$116K	50x
KuCoin HMSTRUSDTM	+0.0100%	4h	0.0001771	+0.113%	$248K	$50K	10x	as long as short
Variational Omni HMSTR	+0.0100%	4h	0.0001768	−0.044%	$2K	$920	—	as long as short
ApeX Omni HMSTRUSDT	+0.0100%	1h	0.0001770	+0.057%	$13K	$614K	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	+0.035%	$924	—	5x	as long as short
Kraken Futures PF_HMSTRUSD	+0.1596%	1h	0.0001771	+0.113%	$10K	$9K	10x	as long as short
Hyperliquid HMSTRshort	+0.4623%	1h	0.0001780	+0.622%	$2.0M	$116K	3x