Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.062%
Price spread now: Bybit against Hyperliquid−0.126%7-day average −0.066% · you buy dearer than you sell
Net, funding: paid 7d − costs−$79as in the Funding arb table
Net, price: spread back to 7d avg − costs−$75as in the Price arb table
costs, in and out, $10k−$690.689% of the position
Funding, last 7 days−0.101%−$10 on $10k
+Price spread, last 7 days+0.147%+$15 · spread now −0.126%, 7d avg −0.066%
=Together, before fees+0.046%+ Points / potential airdropHyperliquid: Season 2 · farm board+$5 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.060% cheaper against Hyperliquid than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.066%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid MORPHO | 2.6129 | 0.0100 | pay 0.0013% / 1h | 58m 30s | $6.1M | $6.9M | 5x |
| Short | Bybit MORPHOUSDT | 2.6096 | 0.0100 | get 0.0050% / 4h | 58m 30s | $8.2M | $9.2M | 25x |
Hyperliquid MORPHO
Bybit MORPHOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- $0
- Price spread: −0.126% → −0.066%
- −$6.04
- Slippage, 4 orders
- −$48.87
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$74.9
- Costs to cover
- 0.689%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 4 min ago; Bybit: live order book, 5 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, 4 min ago | 1.15 bp | 14.8 bp −$15 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 5 min ago | 3.83 bp | 19.9 bp −$20 | 71.7 bp −$717 | 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 | −0.1663% | 1h | 2.6055 | −0.283% | $81K | $127K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1014% | 1h | 2.6070 | −0.226% | $11K | $759 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0960% | 1h | 2.6025 | −0.398% | $855 | $9K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0228% | 4h | 2.6068 | −0.232% | $32K | $142K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0224% | 1h | 2.6084 | −0.172% | $75K | $42K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6070 | −0.226% | $640K | $241K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0156% | 4h | 2.6067 | −0.237% | $10K | $34K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0071% | 1h | 2.6085 | −0.168% | $25K | $1.7M | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.6073 | −0.213% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | 0.0000% | 1h | 2.6083 | −0.176% | $43K | $370K | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDC
Polymarket Perps MORPHO-USD
Reya MORPHORUSDPERP
Phoenix MORPHOShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | +0.0008% | 4h | 2.6102 | −0.103% | $755K | $477K | 50x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +1.152% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6136 | +0.026% | $313K | $308K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6089 | −0.151% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHOlong | +0.0100% | 1h | 2.6129 | long leg | $6.1M | $6.9M | 5x | |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6115 | −0.053% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6075 | −0.206% | $15.7M | $25.4M | 75x | as long as short |
| Bybit MORPHOUSDTshort | +0.0100% | 4h | 2.6096 | −0.126% | $8.2M | $9.2M | 25x | |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6098 | −0.119% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6066 | −0.241% | $5.8M | $787K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6111 | −0.069% | $593K | $251K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6094 | −0.134% | $2.8M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6081 | −0.184% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6085 | −0.170% | $622K | $847K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6079 | −0.191% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6073 | −0.213% | $100K | $350K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6079 | −0.191% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Injective MORPHO/USDC PERP
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]