Funding arb · Price arb /

HMSTR

all HMSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.3020%/8h= −330.7% APRpaid last 24h −0.407%

Price spread now: Gate against Hyperliquid−0.782%7-day average −0.374% · you buy dearer than you sell

Net, funding: paid 7d − costs−$330as in the Funding arb table

Net, price: spread back to 7d avg − costs−$307as in the Price arb table

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

Long on Hyperliquid Short on Gate

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)+0.675%+$67 · spread now −0.782%, 7d avg −0.374%

Together, before fees+0.032%+ Points / potential airdropHyperliquid: Season 2 · farm board+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$91 a day on $10k at the current rate, and Gate is 0.408% cheaper against Hyperliquid than usual: you would sell low and buy high (−$41 if the spread goes back to its 7-day average of −0.374%). Swap the legs.

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	Hyperliquid HMSTR	0.0001790	0.3120	pay 0.0390% / 1h	16m 51s	$2.0M	$115K	3x
Short	Gate HMSTR_USDT	0.0001776	0.0100	get 0.0050% / 4h	3h 16m	$395K	$150K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Hyperliquid. 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 HyperliquidbpFee GatebpOrdersPrice spread, now −0.782%Rate

Funding earned: −$634.21
Price spread: −0.782% → −0.374%: −$40.8
Slippage, 4 orders: −$242.15
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$941.15
Costs to cover: 2.661%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 4 min ago; Gate: live order book, 53 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 Hyperliquid live order book, 4 min ago	27.85 bp	46.6 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 53 min ago	5.66 bp	67.2 bp −$67	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	0.0001776	−0.782%	—	$1.3M	—	as long as short
Aster HMSTRUSDT	+0.0100%	4h	0.0001775	−0.855%	$33K	$7K	5x	as long as short
Binance HMSTRUSDT	+0.0100%	4h	0.0001778	−0.670%	$2.2M	$2.0M	10x	as long as short
Bybit HMSTRUSDT	+0.0100%	4h	0.0001777	−0.726%	$1.5M	$581K	25x	as long as short
OKX HMSTR-USDT-SWAP	+0.0100%	4h	0.0001778	−0.670%	$591K	$848K	10x	as long as short
Gate HMSTR_USDTshort	+0.0100%	4h	0.0001776	−0.782%	$395K	$150K	25x
MEXC HMSTR_USDT	+0.0100%	4h	0.0001775	−0.838%	$388K	$117K	50x	as long as short
KuCoin HMSTRUSDTM	+0.0100%	4h	0.0001775	−0.838%	$249K	$48K	10x	as long as short
Variational Omni HMSTR	+0.0100%	4h	0.0001776	−0.798%	$2K	$920	—	as long as short
ApeX Omni HMSTRUSDT	+0.0100%	1h	0.0001776	−0.782%	$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	0.0001775	−0.835%	$928	—	5x	as long as short
Kraken Futures PF_HMSTRUSD	+0.1592%	1h	0.0001776	−0.801%	$10K	$8K	10x	as long as short
Hyperliquid HMSTRlong	+0.3120%	1h	0.0001790	long leg	$2.0M	$115K	3x