Funding you earn now, next payment 22:00 UTC+0.1387%/8h= +151.9% APRnext payment +$1.73 per $10,000 · paid last 24h +0.277%
Price spread now: Hyperliquid against Deribit+0.173%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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 airdropHyperliquid: Season 2 · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$42 a day on $10k at the current rate, and Hyperliquid is 0.173% dearer against Deribit than usual: you sell high and buy low: +$17 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 | Deribit MORPHO_USDC-PERPETUAL | 2.6626 | −0.1287 | get 0.0161% / 1h | 19m 04s | $11K | $911 | 10x |
| Short | Hyperliquid MORPHO | 2.6672 | 0.0100 | get 0.0013% / 1h | 19m 04s | $6.3M | $7.2M | 5x |
Deribit MORPHO_USDC-PERPETUAL
Hyperliquid MORPHOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Deribit. 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
- $291.37
- Price spread: +0.173% → 0.000%
- $17.28
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $292.65
- Costs to cover
- 0.160%
- Break-even
- from the start
Slippage unknown: Deribit: no order-book sample; Hyperliquid: live order book, 3 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 Deribit no order-book sample | — | — | — | — | — |
| Sell Hyperliquid live order book, 3 min ago | 0.19 bp | 17.1 bp −$17 | doesn't fit | doesn't fit | doesn't fit |
Deribit: 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 | −0.2051% | 1h | 2.6574 | −0.197% | $83K | $148K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUALlong | −0.1287% | 1h | 2.6626 | long leg | $11K | $911 | 10x | |
| 01 Exchange MORPHOUSD | −0.0840% | 1h | 2.6587 | −0.146% | $874 | $12K | 5x | as long as short |
| Injective MORPHO/USDC PERP | −0.0385% | 1h | 2.6610 | −0.060% | $37 | $198K | 5.5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0381% | 1h | 2.6620 | −0.023% | $26K | $1.8M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0350% | 4h | 2.6583 | −0.162% | $30K | $154K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0296% | 1h | 2.6617 | −0.034% | $77K | $46K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6620 | −0.023% | $645K | $223K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0170% | 4h | 2.6618 | −0.030% | $10K | $34K | 10x | as long as short |
| Gate MORPHO_USDT | −0.0060% | 4h | 2.6620 | −0.023% | $763K | $523K | 50x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Injective MORPHO/USDC PERP
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDC
Gate MORPHO_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit MORPHOUSDT | −0.0036% | 4h | 2.6640 | +0.053% | $8.7M | $10.1M | 25x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6655 | +0.109% | $34K | $493K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6636 | +0.038% | $16 | — | 10x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6661 | +0.133% | $318K | $336K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6610 | −0.060% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHOshort | +0.0100% | 1h | 2.6672 | +0.173% | $6.3M | $7.2M | 5x | |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6632 | +0.024% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6617 | −0.034% | $16.3M | $26.8M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6640 | +0.053% | $3.2M | $4.5M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6618 | −0.030% | $5.5M | $1.2M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6627 | +0.004% | $624K | $271K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6626 | 0.000% | $2.9M | $2.0M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6643 | +0.064% | — | $1.5M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6639 | +0.047% | $647K | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6617 | −0.034% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6615 | −0.040% | $103K | $301K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6651 | +0.095% | $1K | — | 100x | as long as short |
Bybit MORPHOUSDT
Phoenix MORPHO
Reya MORPHORUSDPERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
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]