Funding you earn now, next payment 22:00 UTC−0.0185%/8h= −20.2% APRpaid last 24h +0.036%
Price spread now: Injective against BloFin+0.911%7-day average +0.960% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.795%+$80 on $10k
+Price spread, last 3 days (all we have)+0.182%+$18 · spread now +0.911%, 7d avg +0.960%
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Injective is 0.048% cheaper against BloFin than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.960%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.795%, 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 | BloFin MORPHO-USDT | 2.6776 | −0.0200 | get 0.0100% / 4h | 2h 58m | $654K | $206K | 20x |
| Short | Injective MORPHO/USDC PERP | 2.7020 | −0.0385 | pay 0.0048% / 1h | 58m 15s | $38 | $123K | 5.5x |
BloFin MORPHO-USDT
Injective MORPHO/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against BloFin. 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
- −$38.78
- Price spread: +0.911% → +0.960%
- −$4.83
- Slippage, 4 orders
- no order book: not counted
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$55.63
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: BloFin: live order book, 28 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 BloFin live order book, 28 min ago | 3.34 bp | 19.7 bp −$20 | 33.8 bp −$338 | 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 | −0.2043% | 1h | 2.6680 | −0.358% | $84K | $152K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1358% | 1h | 2.6703 | −0.273% | $10K | $623 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.1096% | 1h | 2.6676 | −0.373% | $877 | $12K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0514% | 4h | 2.6774 | −0.008% | $41K | $151K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0514% | 1h | 2.6743 | −0.123% | $25K | $2.0M | 5x | as long as short |
| Injective MORPHO/USDC PERPshort | −0.0385% | 1h | 2.7020 | +0.911% | $38 | $123K | 5.5x | |
| Coinbase International MORPHO-PERP-INTX | −0.0296% | 1h | 2.6813 | +0.138% | $77K | $46K | 25x | as long as short |
| Bybit MORPHOUSDT | −0.0278% | 4h | 2.6750 | −0.097% | $8.8M | $10.2M | 25x | as long as short |
| BloFin MORPHO-USDTlong | −0.0200% | 4h | 2.6776 | long leg | $654K | $206K | 20x | |
| Orderly PERP_MORPHO_USDC | −0.0200% | 4h | 2.6707 | −0.258% | $10K | $34K | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Polymarket Perps MORPHO-USD
Coinbase International MORPHO-PERP-INTX
Bybit MORPHOUSDT
Orderly PERP_MORPHO_USDCShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | −0.0182% | 4h | 2.6760 | −0.060% | $764K | $517K | 50x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6743 | −0.122% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | +0.0059% | 1h | 2.6824 | +0.179% | $34K | $470K | 5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6786 | +0.037% | $319K | $335K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6740 | −0.136% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6786 | +0.037% | $6.4M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6784 | +0.030% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6678 | −0.368% | $16.4M | $26.8M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6729 | −0.176% | $3.2M | $4.6M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6731 | −0.168% | $5.4M | $1.1M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6788 | +0.045% | $603K | $270K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6746 | −0.112% | $2.9M | $2.0M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6749 | −0.101% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6815 | +0.147% | $651K | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6701 | −0.280% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6707 | −0.257% | $104K | $301K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0193% / S −16.5420% | 1h | 2.6761 | −0.057% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Reya MORPHORUSDPERP
Phoenix MORPHO
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]