Funding arb · Price arb /

HMSTR

all HMSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0647%/8h= +70.8% APRpaid last 24h +0.462%

Price spread now: Hyperliquid against BingX+0.562%7-day average +0.407% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$132as in the Price arb table

costs, in and out, $10k−$1481.478% of the position

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.816%+$82 on $10k

Price spread, last 7 days+0.054%+$5 · spread now +0.562%, 7d avg +0.407%

Together, before fees+0.870%+ Points / potential airdropHyperliquid: Season 2 · farm board+$87 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and Hyperliquid is 0.154% dearer against BingX than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of +0.407%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX HMSTR-USDT	0.0001780	0.0070	pay 0.0035% / 4h	3h 22m	—	$1.3M	—
Short	Hyperliquid HMSTR	0.0001790	0.0717	get 0.0090% / 1h	22m 59s	$2.0M	$107K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BingX. 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 BingXbpFee HyperliquidbpOrdersPrice spread, now +0.562%Rate

Funding earned: $135.81
Price spread: +0.562% → +0.407%: $15.45
Slippage, 4 orders: −$128.8
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $3.46
Costs to cover: 1.478%
Break-even: 6.8 days

Slippage from BingX: live order book, 8 min ago; Hyperliquid: 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 BingX live order book, 8 min ago	2.83 bp	14.1 bp −$14	92.7 bp −$927	745.1 bp −$74.5K	doesn't fit
Sell Hyperliquid live order book, 8 min ago	28.01 bp	83.5 bp −$83	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-USDTlong	+0.0070%	4h	0.0001780	long leg	—	$1.3M	—
Aster HMSTRUSDT	+0.0100%	4h	0.0001780	−0.006%	$33K	$3K	5x	as long as short
Binance HMSTRUSDT	+0.0100%	4h	0.0001781	+0.084%	$2.2M	$2.0M	10x	as long as short
Bybit HMSTRUSDT	+0.0100%	4h	0.0001781	+0.056%	$1.5M	$601K	25x	as long as short
OKX HMSTR-USDT-SWAP	+0.0100%	4h	0.0001782	+0.112%	$618K	$750K	10x	as long as short
Gate HMSTR_USDT	+0.0100%	4h	0.0001778	−0.112%	$414K	$245K	25x	as long as short
MEXC HMSTR_USDT	+0.0100%	4h	0.0001782	+0.112%	$390K	$116K	50x	as long as short
KuCoin HMSTRUSDTM	+0.0100%	4h	0.0001780	0.000%	$248K	$62K	10x	as long as short
Variational Omni HMSTR	+0.0100%	4h	0.0001770	−0.553%	$2K	$919	—	as long as short
ApeX Omni HMSTRUSDT	+0.0100%	1h	0.0001770	−0.562%	$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	0.0001780	+0.011%	$929	—	5x	as long as short
Hyperliquid HMSTRshort	+0.0717%	1h	0.0001790	+0.562%	$2.0M	$107K	3x
Kraken Futures PF_HMSTRUSD	+0.0950%	1h	0.0001778	−0.125%	$10K	$6K	10x	as long as short