Funding arb · Price arb /

HMSTR

all HMSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1141%/8h= −124.9% APRpaid last 24h −0.450%

Price spread now: MEXC against Hyperliquid−0.449%7-day average −0.360% · you buy dearer than you sell

Net, funding: paid 7d − costs−$219as in the Funding arb table

Net, price: spread back to 7d avg − costs−$157as in the Price arb table

costs, in and out, $10k−$1481.482% of the position

Long on Hyperliquid Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.710%−$71 on $10k

Price spread, last 4 days (all we have)+0.210%+$21 · spread now −0.449%, 7d avg −0.360%

Together, before fees−0.500%+ Points / potential airdropHyperliquid: Season 2 · farm board−$50 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$34 a day on $10k at the current rate, and MEXC is 0.090% cheaper against Hyperliquid than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.360%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.710% in total (about -37.0% 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	0.0001780	0.1241	pay 0.0155% / 1h	44m 22s	$2.0M	$112K	3x
Short	MEXC HMSTR_USDT	0.0001772	0.0100	get 0.0050% / 4h	44m 22s	$387K	$115K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.449%Rate

Funding earned: −$239.55
Price spread: −0.449% → −0.360%: −$8.96
Slippage, 4 orders: −$135.18
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$396.69
Costs to cover: 1.482%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; MEXC: live order book, 61 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, 6 min ago	28.01 bp	59.9 bp −$60	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 61 min ago	2.83 bp	10.3 bp −$10	51.1 bp −$511	155.5 bp −$15.6K	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	0.0001774	−0.337%	—	$1.3M	—	as long as short
Aster HMSTRUSDT	+0.0100%	4h	0.0001772	−0.427%	$33K	$7K	5x	as long as short
Binance HMSTRUSDT	+0.0100%	4h	0.0001773	−0.404%	$2.2M	$1.9M	10x	as long as short
Bybit HMSTRUSDT	+0.0100%	4h	0.0001772	−0.449%	$1.4M	$595K	25x	as long as short
OKX HMSTR-USDT-SWAP	+0.0100%	4h	0.0001772	−0.449%	$603K	$740K	10x	as long as short
Gate HMSTR_USDT	+0.0100%	4h	0.0001772	−0.449%	$404K	$146K	25x	as long as short
MEXC HMSTR_USDTshort	+0.0100%	4h	0.0001772	−0.449%	$387K	$115K	50x
KuCoin HMSTRUSDTM	+0.0100%	4h	0.0001772	−0.449%	$258K	$50K	10x	as long as short
Variational Omni HMSTR	+0.0100%	4h	0.0001770	−0.552%	$2K	$919	—	as long as short
ApeX Omni HMSTRUSDT	+0.0100%	1h	0.0001769	−0.618%	$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	0.0001772	−0.474%	$923	—	5x	as long as short
Kraken Futures PF_HMSTRUSD	+0.1116%	1h	0.0001774	−0.350%	$10K	$7K	10x	as long as short
Hyperliquid HMSTRlong	+0.1241%	1h	0.0001780	long leg	$2.0M	$112K	3x