Funding arb · Price arb /

HMSTR

all HMSTR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.1495%/8h= +163.7% APRpaid last 24h +0.428%

Price spread now: Hyperliquid against KuCoin+0.395%7-day average +0.364% · you sell dearer than you buy

Net, funding: paid 7d − costs−$737as in the Funding arb table

Net, price: spread back to 7d avg − costs−$801as in the Price arb table

costs, in and out, $10k−$8048.044% of the position

Long on KuCoin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.670%+$67 on $10k

Price spread, last 4 days (all we have)−0.036%−$4 · spread now +0.395%, 7d avg +0.364%

Together, before fees+0.635%+ Points / potential airdropHyperliquid: Season 2 · farm board+$63 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$45 a day on $10k at the current rate, and Hyperliquid is 0.031% dearer against KuCoin than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.364%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.670% in total (about 34.9% 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	KuCoin HMSTRUSDTM	0.0001773	0.0100	pay 0.0050% / 4h	1h 33m	$257K	$48K	10x
Short	Hyperliquid HMSTR	0.0001780	0.1595	get 0.0199% / 1h	33m 05s	$2.0M	$116K	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 +0.395%Rate

Funding earned: $313.96
Price spread: +0.395% → +0.364%: $3.12
Slippage, 4 orders: −$783.36
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$487.28
Costs to cover: 8.044%
Break-even: 17.9 days

Slippage from KuCoin: live order book, 62 min ago; Hyperliquid: live order book, 8 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, 62 min ago	8.43 bp	429.1 bp −$429	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 8 min ago	28.01 bp	81.3 bp −$81	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	0.0001775	+0.113%	—	$1.3M	—	as long as short
Aster HMSTRUSDT	+0.0100%	4h	0.0001775	+0.118%	$33K	$7K	5x	as long as short
Binance HMSTRUSDT	+0.0100%	4h	0.0001775	+0.113%	$2.2M	$2.0M	10x	as long as short
Bybit HMSTRUSDT	+0.0100%	4h	0.0001774	+0.056%	$1.5M	$608K	25x	as long as short
OKX HMSTR-USDT-SWAP	+0.0100%	4h	0.0001775	+0.113%	$600K	$773K	10x	as long as short
Gate HMSTR_USDT	+0.0100%	4h	0.0001772	−0.056%	$404K	$163K	25x	as long as short
MEXC HMSTR_USDT	+0.0100%	4h	0.0001775	+0.113%	$388K	$117K	50x	as long as short
KuCoin HMSTRUSDTMlong	+0.0100%	4h	0.0001773	long leg	$257K	$48K	10x
Variational Omni HMSTR	+0.0100%	4h	0.0001771	−0.104%	$2K	$919	—	as long as short
ApeX Omni HMSTRUSDT	+0.0100%	1h	0.0001769	−0.226%	$13K	$608K	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	0.0001774	+0.085%	$923	—	5x	as long as short
Hyperliquid HMSTRshort	+0.1595%	1h	0.0001780	+0.395%	$2.0M	$116K	3x
Kraken Futures PF_HMSTRUSD	+0.2251%	1h	0.0001774	+0.067%	$10K	$7K	10x	as long as short