Funding you earn now, next payment 23:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.029%
Price spread now: MEXC against Hyperliquid−0.242%7-day average −0.153% · you buy dearer than you sell
Net, funding: paid 7d − costs−$45as in the Funding arb table
Net, price: spread back to 7d avg − costs−$48as in the Price arb table
costs, in and out, $10k−$400.395% of the position
Funding, last 7 days−0.051%−$5 on $10k
+Price spread, last 7 days+0.139%+$14 · spread now −0.242%, 7d avg −0.153%
=Together, before fees+0.088%+ Points / potential airdropHyperliquid: Season 2 · farm board+$9 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 MEXC is 0.089% cheaper against Hyperliquid than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.153%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid MORPHO | 2.6447 | 0.0100 | pay 0.0013% / 1h | 24m 20s | $6.2M | $7.0M | 5x |
| Short | MEXC MORPHO_USDT | 2.6383 | 0.0032 | get 0.0016% / 4h | 1h 24m | $5.4M | $1.1M | 100x |
Hyperliquid MORPHO
MEXC MORPHO_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- −$14.28
- Price spread: −0.242% → −0.153%
- −$8.87
- Slippage, 4 orders
- −$26.55
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee MEXC: 2 bp × 2 orders
- −$4
- Net
- −$62.7
- Costs to cover
- 0.395%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 8 min ago; MEXC: live order book, 3 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 | 0.76 bp | 13.0 bp −$13 | doesn't fit | doesn't fit | doesn't fit |
| Sell MEXC live order book, 3 min ago | 0.19 bp | 5.5 bp −$6 | 42.5 bp −$425 | 198.8 bp −$19.9K | 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 | −0.1862% | 1h | 2.6361 | −0.324% | $82K | $149K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1414% | 1h | 2.6391 | −0.212% | $11K | $812 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.1200% | 1h | 2.6341 | −0.401% | $866 | $13K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0703% | 1h | 2.6392 | −0.208% | $24K | $1.7M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0610% | 4h | 2.6378 | −0.262% | $29K | $146K | 10x | as long as short |
| Bybit MORPHOUSDT | −0.0522% | 4h | 2.6390 | −0.216% | $8.5M | $9.3M | 25x | as long as short |
| Injective MORPHO/USDC PERP | −0.0337% | 1h | 2.6430 | −0.064% | $37 | $242K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0312% | 1h | 2.6413 | −0.129% | $76K | $43K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0207% | 4h | 2.6354 | −0.352% | $640K | $243K | 20x | as long as short |
| Gate MORPHO_USDT | −0.0160% | 4h | 2.6396 | −0.193% | $767K | $533K | 50x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Bybit MORPHOUSDT
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Gate MORPHO_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_MORPHO_USDC | −0.0149% | 4h | 2.6377 | −0.265% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0090% | 1h | 2.6408 | −0.147% | $34K | $484K | 5x | as long as short |
| Variational Omni MORPHO | −0.0077% | 4h | 2.6372 | −0.285% | $627K | $1.2M | — | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6399 | −0.180% | $16 | — | 10x | as long as short |
| Extended MORPHO-USD | +0.0032% | 1h | 2.6400 | −0.179% | $102K | $301K | 10x | as long as short |
| MEXC MORPHO_USDTshort | +0.0032% | 4h | 2.6383 | −0.242% | $5.4M | $1.1M | 100x | |
| Binance MORPHOUSDT | +0.0033% | 4h | 2.6381 | −0.250% | $16.1M | $25.8M | 75x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6452 | +0.020% | $315K | $334K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6412 | −0.131% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHOlong | +0.0100% | 1h | 2.6447 | long leg | $6.2M | $7.0M | 5x | |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6410 | −0.139% | $58K | $31K | 20x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6382 | −0.246% | $3.2M | $4.4M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6422 | −0.095% | $591K | $269K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6415 | −0.121% | $2.9M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6406 | −0.155% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6394 | −0.200% | $22K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6423 | −0.090% | $1K | — | 100x | as long as short |
Orderly PERP_MORPHO_USDC
Phoenix MORPHO
Variational Omni MORPHO
Reya MORPHORUSDPERP
Extended MORPHO-USD
Binance MORPHOUSDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Aster MORPHOUSDT
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]