Funding arb · Price arb /

HMSTR

all HMSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.2787%/8h= −305.2% APRpaid last 24h −0.175%

Price spread now: Bybit against Kraken Futures−0.367%55s7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Bybit

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—needs both histories

Both sides work against this trade now: funding costs −$84 a day on $10k at the current rate, and Bybit is 0.367% cheaper against Kraken Futures than usual: you would sell low and buy high (−$37 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 55 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	Kraken Futures PF_HMSTRUSD	0.0001766	0.2887	pay 0.0361% / 1h	27m 27s	$10K	$6K	10x
Short	Bybit HMSTRUSDT	0.0001760	0.0100	get 0.0050% / 4h	2h 27m	$1.4M	$596K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Kraken Futures. 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 Kraken FuturesbpFee BybitbpOrdersPrice spread, now −0.367%Rate

Funding earned: −$585.27
Price spread: −0.367% → 0.000%: −$36.7
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$642.97
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Bybit: live order book, 4 min ago. 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Bybit live order book, 4 min ago	5.66 bp	44.5 bp −$44	872.5 bp −$8,725	doesn't fit	doesn't fit

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	0.0001761	−0.310%	—	$1.3M	—	as long as short
Aster HMSTRUSDT	+0.0100%	4h	0.0001761	−0.327%	$33K	$6K	5x	as long as short
Binance HMSTRUSDT	+0.0100%	4h	0.0001759	−0.401%	$2.2M	$1.9M	10x	as long as short
Bybit HMSTRUSDTshort	+0.0100%	4h	0.0001760	−0.367%	$1.4M	$596K	25x
OKX HMSTR-USDT-SWAP	+0.0100%	4h	0.0001759	−0.424%	$611K	$741K	10x	as long as short
Gate HMSTR_USDT	+0.0100%	4h	0.0001760	−0.367%	$403K	$228K	25x	as long as short
MEXC HMSTR_USDT	+0.0100%	4h	0.0001759	−0.424%	$381K	$115K	50x	as long as short
KuCoin HMSTRUSDTM	+0.0100%	4h	0.0001761	−0.310%	$251K	$54K	10x	as long as short
Variational Omni HMSTR	+0.0100%	4h	0.0001765	−0.071%	$2K	$919	—	as long as short
ApeX Omni HMSTRUSDT	+0.0100%	1h	0.0001764	−0.141%	$13K	$603K	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	0.0001759	−0.433%	$922	—	5x	as long as short
Hyperliquid HMSTR	+0.1363%	1h	0.0001770	+0.199%	$1.9M	$115K	3x	as long as short
Kraken Futures PF_HMSTRUSDlong	+0.2887%	1h	0.0001766	long leg	$10K	$6K	10x