Funding you earn now, next payment 02:00 UTC−0.0788%/8h= −86.3% APRnext payment −$0.98 per $10,000 · paid last 24h −0.227%
Price spread now: 01 Exchange against Hyperliquid−0.212%7-day average — · you buy dearer than you sell
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 against this trade now: funding costs −$24 a day on $10k at the current rate, and 01 Exchange is 0.212% cheaper against Hyperliquid than usual: you would sell low and buy high (−$21 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid MORPHO | 2.6398 | 0.0100 | pay 0.0013% / 1h | 51m 33s | $6.2M | $6.9M | 5x |
| Short | 01 Exchange MORPHOUSD | 2.6342 | −0.0688 | pay 0.0086% / 1h | 51m 33s | $866 | $10K | 5x |
Hyperliquid MORPHO
01 Exchange MORPHOUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
01 Exchange 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
- −$165.48
- Price spread: −0.212% → 0.000%
- −$21.21
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee 01 Exchange: 3.5 bp × 2 orders
- −$7
- Net
- −$202.69
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 11 min ago; 01 Exchange: 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, 11 min ago | 0.75 bp | 15.6 bp −$16 | doesn't fit | doesn't fit | doesn't fit |
| Sell 01 Exchange no order-book sample | — | — | — | — | — |
01 Exchange: 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 | −0.223% | $80K | $126K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0698% | 1h | 2.6352 | −0.174% | $11K | $785 | 10x | as long as short |
| 01 Exchange MORPHOUSDshort | −0.0688% | 1h | 2.6342 | −0.212% | $866 | $10K | 5x | |
| Coinbase International MORPHO-PERP-INTX | −0.0232% | 1h | 2.6456 | +0.220% | $76K | $43K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6320 | −0.295% | $642K | $235K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0148% | 4h | 2.6342 | −0.212% | $10K | $34K | 10x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0116% | 4h | 2.6313 | −0.321% | $40K | $133K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0114% | 1h | 2.6356 | −0.159% | $24K | $1.7M | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6346 | −0.196% | $16 | — | 10x | as long as short |
| Gate MORPHO_USDT | +0.0004% | 4h | 2.6378 | −0.076% | $760K | $493K | 50x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDC
GRVT MORPHO_USDT_Perp
Polymarket Perps MORPHO-USD
Reya MORPHORUSDPERP
Gate MORPHO_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix MORPHO | +0.0030% | 1h | 2.6277 | −0.458% | $43K | $426K | 5x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +0.121% | $37 | $242K | 5.5x | as long as short |
| Variational Omni MORPHO | +0.0052% | 4h | 2.6316 | −0.311% | $627K | $925K | — | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6457 | +0.224% | $317K | $319K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6338 | −0.227% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHOlong | +0.0100% | 1h | 2.6398 | long leg | $6.2M | $6.9M | 5x | |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6358 | −0.153% | $58K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6335 | −0.239% | $15.9M | $25.2M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6365 | −0.125% | $8.3M | $9.2M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6320 | −0.295% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6327 | −0.269% | $5.5M | $873K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6386 | −0.045% | $595K | $258K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6346 | −0.197% | $2.9M | $1.7M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6371 | −0.102% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6348 | −0.189% | $22K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6326 | −0.275% | $101K | $358K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −0.4126% | 1h | 2.6362 | −0.136% | $1K | — | 100x | as long as short |
Phoenix MORPHO
Injective MORPHO/USDC PERP
Variational Omni MORPHO
Lighter MORPHO
Paradex MORPHO-USD-PERP
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]