Funding you earn now, next payment 23:00 UTC−0.0352%/8h= −38.6% APRpaid last 24h −0.035%
Price spread now: Injective against Binance−0.049%7-day average +1.115% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+1.134%+$113 on $10k
+Price spread, last 3 days (all we have)+1.209%+$121 · spread now −0.049%, 7d avg +1.115%
=Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Injective is 1.164% cheaper against Binance than usual: you would sell low and buy high (−$116 if the spread goes back to its 7-day average of +1.115%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +1.134%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance MORPHOUSDT | 2.6443 | 0.0015 | pay 0.0008% / 4h | 1h 00m | $16.1M | $25.8M | 75x |
| Short | Injective MORPHO/USDC PERP | 2.6430 | −0.0337 | pay 0.0042% / 1h | 0m 40s | $37 | $242K | 5.5x |
Binance MORPHOUSDT
Injective MORPHO/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Binance. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$73.98
- Price spread: −0.049% → +1.115%
- −$116.41
- Slippage, 4 orders
- no order book: not counted
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$200.41
- Costs to cover
- 0.100%
- Break-even
- never at this rate
Slippage unknown: Binance: live order book, 11 min ago; Injective: no order-book sample. 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 Binance live order book, 11 min ago | 0.38 bp | 14.6 bp −$15 | 38.5 bp −$385 | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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.
MORPHO on 27 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_MORPHOUSD | −0.1859% | 1h | 2.6398 | −0.170% | $81K | $148K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.1160% | 1h | 2.6388 | −0.208% | $867 | $12K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1149% | 1h | 2.6420 | −0.087% | $11K | $812 | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0674% | 1h | 2.6424 | −0.072% | $24K | $1.7M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0576% | 4h | 2.6390 | −0.201% | $29K | $134K | 10x | as long as short |
| Bybit MORPHOUSDT | −0.0399% | 4h | 2.6460 | +0.064% | $8.4M | $9.3M | 25x | as long as short |
| Injective MORPHO/USDC PERPshort | −0.0337% | 1h | 2.6430 | −0.049% | $37 | $242K | 5.5x | |
| Coinbase International MORPHO-PERP-INTX | −0.0312% | 1h | 2.6434 | −0.034% | $76K | $43K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0224% | 4h | 2.6400 | −0.163% | $639K | $249K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0145% | 4h | 2.6421 | −0.083% | $10K | $34K | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Bybit MORPHOUSDT
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDCShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | −0.0116% | 4h | 2.6458 | +0.057% | $768K | $534K | 50x | as long as short |
| Phoenix MORPHO | −0.0090% | 1h | 2.6447 | +0.015% | $43K | $484K | 5x | as long as short |
| Variational Omni MORPHO | −0.0080% | 4h | 2.6401 | −0.157% | $627K | $1.2M | — | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6420 | −0.085% | $16 | — | 10x | as long as short |
| Binance MORPHOUSDTlong | +0.0015% | 4h | 2.6443 | long leg | $16.1M | $25.8M | 75x | |
| Extended MORPHO-USD | +0.0016% | 1h | 2.6437 | −0.021% | $103K | $301K | 10x | as long as short |
| MEXC MORPHO_USDT | +0.0016% | 4h | 2.6439 | −0.015% | $5.4M | $1.1M | 100x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6498 | +0.206% | $315K | $334K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6435 | −0.029% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6506 | +0.238% | $6.2M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6462 | +0.071% | $58K | $31K | 20x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6448 | +0.019% | $3.2M | $4.4M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6475 | +0.121% | $592K | $269K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6452 | +0.034% | $2.9M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6444 | +0.004% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6420 | −0.087% | $22K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −0.3373% | 1h | 2.6452 | +0.033% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Phoenix MORPHO
Variational Omni MORPHO
Reya MORPHORUSDPERP
Extended MORPHO-USD
MEXC MORPHO_USDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]