Funding arb · Price arb /

HMSTR

all HMSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.1075%/8hnext payment −$1.34 per $10,000 · paid last 24h −0.429%

Price spread now: Kraken Futures against Hyperliquid−0.188%50s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$32 a day on $10k at the current rate, and Kraken Futures is 0.188% cheaper against Hyperliquid than usual: you would sell low and buy high (−$19 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid HMSTR	0.0001760	0.1586	pay 0.0198% / 1h	6m 33s	$1.9M	$582K	3x
Short	Kraken Futures PF_HMSTRUSD	0.0001757	0.0511	get 0.0064% / 1h	6m 33s	$10K	$13K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.188%Rate

Funding earned: −$225.8
Price spread: −0.188% → 0.000%: −$18.78
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$263.57
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 9 min ago; Kraken Futures: no order-book sample. Net counts fees only.

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, 9 min ago	28.33 bp	69.0 bp −$69	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.0001757	−0.170%	—	$1.3M	—	as long as short
Aster HMSTRUSDT	+0.0100%	4h	0.0001757	−0.165%	$33K	$7K	5x	as long as short
Binance HMSTRUSDT	+0.0100%	4h	0.0001757	−0.142%	$2.2M	$3.4M	10x	as long as short
Bybit HMSTRUSDT	+0.0100%	4h	0.0001756	−0.227%	$1.5M	$807K	25x	as long as short
OKX HMSTR-USDT-SWAP	+0.0100%	4h	0.0001758	−0.114%	$586K	$1.4M	10x	as long as short
Gate HMSTR_USDT	+0.0100%	4h	0.0001756	−0.227%	$390K	$206K	25x	as long as short
MEXC HMSTR_USDT	+0.0100%	4h	0.0001757	−0.170%	$386K	$132K	50x	as long as short
KuCoin HMSTRUSDTM	+0.0100%	4h	0.0001756	−0.227%	$242K	$74K	10x	as long as short
Variational Omni HMSTR	+0.0100%	4h	0.0001757	−0.143%	$2K	$2K	—	as long as short
ApeX Omni HMSTRUSDT	+0.0100%	1h	0.0001756	−0.227%	$13K	$619K	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	0.0001757	−0.175%	$913	—	5x	as long as short
Kraken Futures PF_HMSTRUSDshort	+0.0511%	1h	0.0001757	−0.188%	$10K	$13K	10x
Hyperliquid HMSTRlong	+0.1586%	1h	0.0001760	long leg	$1.9M	$582K	3x