Funding arb · Price arb /

HMSTR

all HMSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0091%/8h= +9.9% APRpaid last 24h +0.475%

Price spread now: Hyperliquid against Variational Omni+0.831%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · Hyperliquid: Season 2 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Hyperliquid is 0.831% dearer against Variational Omni than usual: you sell high and buy low: +$83 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni HMSTR	0.0001765	0.0100	pay 0.0050% / 4h	1h 42m	$2K	$833	—
Short	Hyperliquid HMSTR	0.0001780	0.0191	get 0.0024% / 1h	42m 28s	$2.0M	$199K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Variational Omni. 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 Variational OmnibpFee HyperliquidbpOrdersPrice spread, now +0.831%Rate

Funding earned: $19.05
Price spread: +0.831% → 0.000%: $83.09
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $93.14
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Variational Omni: no order-book sample; Hyperliquid: live order book, 8 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 Variational Omni no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 8 min ago	28.17 bp	32.7 bp −$33	doesn't fit	doesn't fit	doesn't fit

Variational Omni: 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
Kraken Futures PF_HMSTRUSD	−0.0893%	1h	0.0001772	+0.364%	$10K	$11K	10x	as long as short
BingX HMSTR-USDT	+0.0070%	4h	0.0001771	+0.321%	—	$1.3M	—	as long as short
Aster HMSTRUSDT	+0.0100%	4h	0.0001772	+0.389%	$33K	$7K	5x	as long as short
Binance HMSTRUSDT	+0.0100%	4h	0.0001771	+0.344%	$2.2M	$2.2M	10x	as long as short
Bybit HMSTRUSDT	+0.0100%	4h	0.0001771	+0.321%	$1.4M	$577K	25x	as long as short
OKX HMSTR-USDT-SWAP	+0.0100%	4h	0.0001769	+0.208%	$589K	$908K	10x	as long as short
Gate HMSTR_USDT	+0.0100%	4h	0.0001770	+0.264%	$391K	$139K	25x	as long as short
MEXC HMSTR_USDT	+0.0100%	4h	0.0001771	+0.321%	$387K	$114K	50x	as long as short
KuCoin HMSTRUSDTM	+0.0100%	4h	0.0001770	+0.264%	$248K	$59K	10x	as long as short
Variational Omni HMSTRlong	+0.0100%	4h	0.0001765	long leg	$2K	$833	—

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni HMSTRUSDT	+0.0100%	1h	0.0001765	−0.019%	$13K	$614K	50x	as long as short
Extended kHMSTR-USD	+0.0104%	1h	0.0001771	+0.349%	$923	—	5x	as long as short
Hyperliquid HMSTRshort	+0.0191%	1h	0.0001780	+0.831%	$2.0M	$199K	3x