Funding arb · Price arb /

HMSTR

all HMSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.2299%/8h= +251.8% APRpaid last 24h +0.396%

Price spread now: Hyperliquid against Gate+0.679%7-day average +0.371% · you sell dearer than you buy

Net, funding: paid 7d − costs−$158as in the Funding arb table

Net, price: spread back to 7d avg − costs−$189as in the Price arb table

costs, in and out, $10k−$2202.200% of the position

Long on Gate Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.621%+$62 on $10k

Price spread, last 4 days (all we have)−0.559%−$56 · spread now +0.679%, 7d avg +0.371%

Together, before fees+0.061%+ Points / potential airdropHyperliquid: Season 2 · farm board+$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$69 a day on $10k at the current rate, and Hyperliquid is 0.308% dearer against Gate than usual: you sell high and buy low: +$31 more if the spread goes back to its 7-day average of +0.371%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.621% in total (about 32.4% 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	Gate HMSTR_USDT	0.0001768	0.0100	pay 0.0050% / 4h	31m 17s	$391K	$132K	25x
Short	Hyperliquid HMSTR	0.0001780	0.2399	get 0.0300% / 1h	31m 17s	$2.0M	$125K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Gate. 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 GatebpFee HyperliquidbpOrdersPrice spread, now +0.679%Rate

Funding earned: $482.88
Price spread: +0.679% → +0.371%: $30.76
Slippage, 4 orders: −$195.99
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $293.64
Costs to cover: 2.200%
Break-even: 2.7 days

Slippage from Gate: live order book, 44 min ago; Hyperliquid: live order book, 10 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 Gate live order book, 44 min ago	5.65 bp	73.0 bp −$73	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 10 min ago	28.01 bp	32.5 bp −$33	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
BingX HMSTR-USDT	+0.0070%	4h	0.0001770	+0.113%	—	$1.3M	—	as long as short
Aster HMSTRUSDT	+0.0100%	4h	0.0001771	+0.192%	$33K	$7K	5x	as long as short
Binance HMSTRUSDT	+0.0100%	4h	0.0001770	+0.136%	$2.2M	$2.1M	10x	as long as short
Bybit HMSTRUSDT	+0.0100%	4h	0.0001770	+0.113%	$1.5M	$580K	25x	as long as short
OKX HMSTR-USDT-SWAP	+0.0100%	4h	0.0001771	+0.170%	$592K	$890K	10x	as long as short
Gate HMSTR_USDTlong	+0.0100%	4h	0.0001768	long leg	$391K	$132K	25x
MEXC HMSTR_USDT	+0.0100%	4h	0.0001771	+0.170%	$389K	$118K	50x	as long as short
KuCoin HMSTRUSDTM	+0.0100%	4h	0.0001770	+0.113%	$246K	$49K	10x	as long as short
Variational Omni HMSTR	+0.0100%	4h	0.0001770	+0.130%	$2K	$920	—	as long as short
ApeX Omni HMSTRUSDT	+0.0100%	1h	0.0001769	+0.057%	$13K	$611K	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	0.0001770	+0.105%	$923	—	5x	as long as short
Kraken Futures PF_HMSTRUSD	+0.0383%	1h	0.0001773	+0.311%	$10K	$11K	10x	as long as short
Hyperliquid HMSTRshort	+0.2399%	1h	0.0001780	+0.679%	$2.0M	$125K	3x