Funding arb · Price arb /

HMSTR

all HMSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.2964%/8h= +324.6% APRpaid last 24h +0.407%

Price spread now: Hyperliquid against Gate+0.732%7-day average +0.374% · you sell dearer than you buy

Net, funding: paid 7d − costs−$202as in the Funding arb table

Net, price: spread back to 7d avg − costs−$230as in the Price arb table

costs, in and out, $10k−$2662.661% of the position

Long on Gate Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.643%+$64 on $10k

Price spread, last 4 days (all we have)−0.624%−$62 · spread now +0.732%, 7d avg +0.374%

Together, before fees+0.019%+ Points / potential airdropHyperliquid: Season 2 · farm board+$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$89 a day on $10k at the current rate, and Hyperliquid is 0.357% dearer against Gate than usual: you sell high and buy low: +$36 more if the spread goes back to its 7-day average of +0.374%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.643% in total (about 33.5% 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	Gate HMSTR_USDT	0.0001777	0.0100	pay 0.0050% / 4h	3h 16m	$395K	$150K	25x
Short	Hyperliquid HMSTR	0.0001790	0.3064	get 0.0383% / 1h	16m 18s	$2.0M	$118K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Gate. 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 GatebpFee HyperliquidbpOrdersPrice spread, now +0.732%Rate

Funding earned: $622.53
Price spread: +0.732% → +0.374%: $35.74
Slippage, 4 orders: −$242.15
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $392.13
Costs to cover: 2.661%
Break-even: 2.6 days

Slippage from Gate: live order book, 54 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 Gate live order book, 54 min ago	5.66 bp	71.2 bp −$71	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 4 min ago	27.85 bp	81.1 bp −$81	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	0.0001777	0.000%	—	$1.3M	—	as long as short
Aster HMSTRUSDT	+0.0100%	4h	0.0001779	+0.090%	$33K	$7K	5x	as long as short
Binance HMSTRUSDT	+0.0100%	4h	0.0001782	+0.310%	$2.2M	$2.0M	10x	as long as short
Bybit HMSTRUSDT	+0.0100%	4h	0.0001781	+0.225%	$1.5M	$581K	25x	as long as short
OKX HMSTR-USDT-SWAP	+0.0100%	4h	0.0001783	+0.338%	$592K	$850K	10x	as long as short
Gate HMSTR_USDTlong	+0.0100%	4h	0.0001777	long leg	$395K	$150K	25x
MEXC HMSTR_USDT	+0.0100%	4h	0.0001782	+0.281%	$390K	$118K	50x	as long as short
KuCoin HMSTRUSDTM	+0.0100%	4h	0.0001778	+0.056%	$249K	$48K	10x	as long as short
Variational Omni HMSTR	+0.0100%	4h	0.0001780	+0.153%	$2K	$920	—	as long as short
ApeX Omni HMSTRUSDT	+0.0100%	1h	0.0001776	−0.056%	$13K	$612K	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	+0.194%	$928	—	5x	as long as short
Kraken Futures PF_HMSTRUSD	+0.1585%	1h	0.0001783	+0.352%	$10K	$8K	10x	as long as short
Hyperliquid HMSTRshort	+0.3064%	1h	0.0001790	+0.732%	$2.0M	$118K	3x