Funding arb · Price arb /

HMSTR

all HMSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.1808%/8h= +198.0% APRpaid last 24h +0.428%

Price spread now: Hyperliquid against Binance+0.531%7-day average +0.383% · you sell dearer than you buy

Net, funding: paid 7d − costs−$130as in the Funding arb table

Net, price: spread back to 7d avg − costs−$184as in the Price arb table

costs, in and out, $10k−$1981.983% of the position

Long on Binance Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.687%+$69 on $10k

Price spread, last 7 days−0.166%−$17 · spread now +0.531%, 7d avg +0.383%

Together, before fees+0.521%+ Points / potential airdropHyperliquid: Season 2 · farm board+$52 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$54 a day on $10k at the current rate, and Hyperliquid is 0.148% dearer against Binance than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of +0.383%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.687% in total (about 35.8% 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	Binance HMSTRUSDT	0.0001771	0.0100	pay 0.0050% / 4h	1h 40m	$2.2M	$2.0M	10x
Short	Hyperliquid HMSTR	0.0001780	0.1908	get 0.0239% / 1h	40m 09s	$2.0M	$116K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Binance. 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 BinancebpFee HyperliquidbpOrdersPrice spread, now +0.531%Rate

Funding earned: $379.78
Price spread: +0.531% → +0.383%: $14.79
Slippage, 4 orders: −$179.33
Fee Binance: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $196.25
Costs to cover: 1.983%
Break-even: 3.4 days

Slippage from Binance: live order book, 9 min ago; Hyperliquid: live order book, 11 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 Binance live order book, 9 min ago	5.65 bp	23.8 bp −$24	245.8 bp −$2,458	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 11 min ago	28.01 bp	86.3 bp −$86	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	0.0001769	−0.090%	—	$1.3M	—	as long as short
Aster HMSTRUSDT	+0.0100%	4h	0.0001770	−0.034%	$33K	$7K	5x	as long as short
Binance HMSTRUSDTlong	+0.0100%	4h	0.0001771	long leg	$2.2M	$2.0M	10x
Bybit HMSTRUSDT	+0.0100%	4h	0.0001770	−0.034%	$1.4M	$608K	25x	as long as short
OKX HMSTR-USDT-SWAP	+0.0100%	4h	0.0001770	−0.034%	$598K	$772K	10x	as long as short
Gate HMSTR_USDT	+0.0100%	4h	0.0001770	−0.034%	$404K	$163K	25x	as long as short
MEXC HMSTR_USDT	+0.0100%	4h	0.0001770	−0.034%	$387K	$117K	50x	as long as short
KuCoin HMSTRUSDTM	+0.0100%	4h	0.0001768	−0.147%	$257K	$48K	10x	as long as short
Variational Omni HMSTR	+0.0100%	4h	0.0001769	−0.110%	$2K	$919	—	as long as short
ApeX Omni HMSTRUSDT	+0.0100%	1h	0.0001769	−0.090%	$13K	$610K	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	−0.061%	$923	—	5x	as long as short
Hyperliquid HMSTRshort	+0.1908%	1h	0.0001780	+0.531%	$2.0M	$116K	3x
Kraken Futures PF_HMSTRUSD	+0.2257%	1h	0.0001770	−0.040%	$10K	$7K	10x	as long as short