Funding you earn now, next payment 05:00 UTC−0.0300%/8h= −32.9% APRpaid last 24h −0.121%
Price spread now: BloFin against Hyperliquid−0.207%7-day average −0.154% · you buy dearer than you sell
Net, funding: paid 7d − costs−$34as in the Funding arb table
Net, price: spread back to 7d avg − costs−$71as in the Price arb table
costs, in and out, $10k−$650.652% of the position
Funding, last 7 days+0.310%+$31 on $10k
+Price spread, last 4 days (all we have)+0.025%+$3 · spread now −0.207%, 7d avg −0.154%
=Together, before fees+0.335%+ Points / potential airdropHyperliquid: Season 2 · farm board+$34 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and BloFin is 0.053% cheaper against Hyperliquid than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.154%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.310%, 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 | Hyperliquid MORPHO | 2.6087 | 0.0100 | pay 0.0013% / 1h | 34m 29s | $6.0M | $6.8M | 5x |
| Short | BloFin MORPHO-USDT | 2.6033 | −0.0200 | pay 0.0100% / 4h | 3h 34m | $636K | $241K | 20x |
Hyperliquid MORPHO
BloFin MORPHO-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Hyperliquid. 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
- −$63
- Price spread: −0.207% → −0.154%
- −$5.31
- Slippage, 4 orders
- −$44.2
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$133.51
- Costs to cover
- 0.652%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 8 min ago; BloFin: live order book, 62 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 Hyperliquid live order book, 8 min ago | 0.19 bp | 17.4 bp −$17 | doesn't fit | doesn't fit | doesn't fit |
| Sell BloFin live order book, 62 min ago | 3.85 bp | 15.8 bp −$16 | 36.5 bp −$365 | doesn't fit | doesn't fit |
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 | −0.2170% | 1h | 2.6016 | −0.273% | $81K | $124K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1361% | 1h | 2.6036 | −0.195% | $11K | $2K | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0920% | 1h | 2.5983 | −0.399% | $854 | $9K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0570% | 4h | 2.5991 | −0.368% | $34K | $140K | 10x | as long as short |
| Bybit MORPHOUSDT | −0.0234% | 4h | 2.6040 | −0.180% | $8.1M | $8.5M | 25x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0218% | 1h | 2.6045 | −0.161% | $24K | $1.5M | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0216% | 1h | 2.6099 | +0.046% | $75K | $41K | 25x | as long as short |
| BloFin MORPHO-USDTshort | −0.0200% | 4h | 2.6033 | −0.207% | $636K | $241K | 20x | |
| Orderly PERP_MORPHO_USDC | −0.0134% | 4h | 2.6043 | −0.169% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0061% | 1h | 2.6048 | −0.149% | $43K | $337K | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Bybit MORPHOUSDT
Polymarket Perps MORPHO-USD
Coinbase International MORPHO-PERP-INTX
Orderly PERP_MORPHO_USDC
Phoenix MORPHOShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.6025 | −0.236% | $16 | — | 10x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +1.315% | $37 | $242K | 5.5x | as long as short |
| Gate MORPHO_USDT | +0.0036% | 4h | 2.6063 | −0.092% | $765K | $470K | 50x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6062 | −0.094% | $313K | $293K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6027 | −0.231% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHOlong | +0.0100% | 1h | 2.6087 | long leg | $6.0M | $6.8M | 5x | |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6074 | −0.049% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6026 | −0.234% | $15.7M | $24.0M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6046 | −0.157% | $3.2M | $4.0M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6026 | −0.234% | $6.0M | $834K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6069 | −0.069% | $600K | $248K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6027 | −0.230% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6045 | −0.161% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6050 | −0.140% | $622K | $675K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6033 | −0.207% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6026 | −0.232% | $101K | $346K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6072 | −0.058% | $1K | — | 100x | as long as short |
Reya MORPHORUSDPERP
Injective MORPHO/USDC PERP
Gate MORPHO_USDT
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]