Funding arb · Price arb /

HMSTR

all HMSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0318%/8h= +34.8% APRpaid last 24h +0.475%

Price spread now: Hyperliquid against KuCoin+0.622%7-day average +0.360% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,065as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,097as in the Price arb table

costs, in and out, $10k−$1,12311.228% of the position

Long on KuCoin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.582%+$58 on $10k

Price spread, last 4 days (all we have)−0.422%−$42 · spread now +0.622%, 7d avg +0.360%

Together, before fees+0.160%+ Points / potential airdropHyperliquid: Season 2 · farm board+$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Hyperliquid is 0.262% dearer against KuCoin than usual: you sell high and buy low: +$26 more if the spread goes back to its 7-day average of +0.360%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin HMSTRUSDTM	0.0001769	0.0100	pay 0.0050% / 4h	1h 18m	$247K	$59K	10x
Short	Hyperliquid HMSTR	0.0001780	0.0418	get 0.0052% / 1h	18m 41s	$2.0M	$187K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against KuCoin. 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 KuCoinbpFee HyperliquidbpOrdersPrice spread, now +0.622%Rate

Funding earned: $66.68
Price spread: +0.622% → +0.360%: $26.17
Slippage, 4 orders: −$1,101.84
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$1,029.99
Costs to cover: 11.228%
Break-even: 115.1 days

Slippage from KuCoin: live order book, 52 min ago; Hyperliquid: live order book, 2 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 KuCoin live order book, 52 min ago	8.51 bp	432.7 bp −$433	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 2 min ago	28.01 bp	76.2 bp −$76	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
Kraken Futures PF_HMSTRUSD	−0.0894%	1h	0.0001769	+0.009%	$10K	$11K	10x	as long as short
BingX HMSTR-USDT	+0.0070%	4h	0.0001769	0.000%	—	$1.3M	—	as long as short
Aster HMSTRUSDT	+0.0100%	4h	0.0001769	0.000%	$33K	$7K	5x	as long as short
Binance HMSTRUSDT	+0.0100%	4h	0.0001770	+0.057%	$2.2M	$2.2M	10x	as long as short
Bybit HMSTRUSDT	+0.0100%	4h	0.0001768	−0.057%	$1.5M	$578K	25x	as long as short
OKX HMSTR-USDT-SWAP	+0.0100%	4h	0.0001770	+0.057%	$590K	$903K	10x	as long as short
Gate HMSTR_USDT	+0.0100%	4h	0.0001769	0.000%	$389K	$140K	25x	as long as short
MEXC HMSTR_USDT	+0.0100%	4h	0.0001769	0.000%	$385K	$117K	50x	as long as short
KuCoin HMSTRUSDTMlong	+0.0100%	4h	0.0001769	long leg	$247K	$59K	10x
Variational Omni HMSTR	+0.0100%	4h	0.0001770	+0.072%	$2K	$920	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni HMSTRUSDT	+0.0100%	1h	0.0001769	0.000%	$13K	$613K	50x	as long as short
Extended kHMSTR-USD	+0.0104%	1h	0.0001768	−0.053%	$923	—	5x	as long as short
Hyperliquid HMSTRshort	+0.0418%	1h	0.0001780	+0.622%	$2.0M	$187K	3x