MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0067%/8h= −7.3% APRnext payment −$0.08 per $10,000 · paid last 24h −0.076%

Price spread now: Injective against Hyperliquid+0.125%53s7-day average +0.921% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.958%+$96 on $10k

Price spread, last 3 days (all we have)−0.384%−$38 · spread now +0.125%, 7d avg +0.921%

Together, before fees+0.573%+ Points / potential airdropHyperliquid: Season 2 · farm board+$57 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 0.796% cheaper against Hyperliquid than usual: you would sell low and buy high (−$80 if the spread goes back to its 7-day average of +0.921%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.958%, so the current rate has only just turned against you. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MORPHO	2.6397	0.0100	pay 0.0013% / 1h	52m 25s	$6.2M	$6.9M	5x
Short	Injective MORPHO/USDC PERP	2.6430	0.0033	get 0.0004% / 1h	52m 25s	$37	$242K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee InjectivebpOrdersPrice spread, now +0.125%Rate

Funding earned: −$14
Price spread: +0.125% → +0.921%: −$79.64
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$102.66
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 10 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 Hyperliquid live order book, 10 min ago	0.75 bp	15.6 bp −$16	doesn't fit	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	−0.1902%	1h	2.6339	−0.219%	$80K	$126K	20x	as long as short
01 Exchange MORPHOUSD	−0.0760%	1h	2.6348	−0.186%	$866	$10K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0698%	1h	2.6352	−0.170%	$11K	$785	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0232%	1h	2.6456	+0.224%	$76K	$43K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6320	−0.292%	$642K	$235K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0148%	4h	2.6342	−0.208%	$10K	$34K	10x	as long as short
GRVT MORPHO_USDT_Perp	−0.0134%	4h	2.6301	−0.364%	$40K	$133K	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0114%	1h	2.6356	−0.155%	$24K	$1.7M	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6346	−0.192%	$16	—	10x	as long as short
Phoenix MORPHO	+0.0030%	1h	2.6277	−0.455%	$43K	$426K	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective MORPHO/USDC PERPshort	+0.0033%	1h	2.6430	+0.125%	$37	$242K	5.5x
Gate MORPHO_USDT	+0.0034%	4h	2.6329	−0.258%	$759K	$493K	50x	as long as short
Variational Omni MORPHO	+0.0052%	4h	2.6316	−0.307%	$627K	$925K	—	as long as short
Lighter MORPHO	+0.0096%	1h	2.6466	+0.261%	$317K	$319K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6360	−0.139%	$5K	$3	5x	as long as short
Hyperliquid MORPHOlong	+0.0100%	1h	2.6397	long leg	$6.2M	$6.9M	5x
Aster MORPHOUSDT	+0.0100%	4h	2.6329	−0.257%	$58K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6344	−0.201%	$15.9M	$25.2M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6339	−0.220%	$8.3M	$9.2M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6344	−0.201%	$3.2M	$4.3M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6349	−0.182%	$5.5M	$872K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6326	−0.269%	$594K	$257K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6348	−0.186%	$2.9M	$1.7M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6352	−0.170%	—	$1.5M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6348	−0.186%	$22K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6338	−0.224%	$101K	$362K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0186% / S −0.4126%	1h	2.6362	−0.132%	$1K	—	100x	as long as short