Funding you earn now, next payment 23:00 UTC+0.0437%/8h= +47.9% APRpaid last 24h +0.029%
Price spread now: Binance against Injective−0.225%7-day average −1.124% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−1.174%−$117 on $10k
+Price spread, last 3 days (all we have)−0.844%−$84 · spread now −0.225%, 7d avg −1.124%
=Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Binance is 0.899% dearer against Injective than usual: you sell high and buy low: +$90 more if the spread goes back to its 7-day average of −1.124%. Mind the row above: over the last 7 days funding on this pair cost −1.174%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective MORPHO/USDC PERP | 2.6610 | −0.0337 | get 0.0042% / 1h | 56m 41s | $37 | $198K | 5.5x |
| Short | Binance MORPHOUSDT | 2.6550 | 0.0100 | get 0.0050% / 4h | 1h 56m | $16.2M | $26.2M | 75x |
Injective MORPHO/USDC PERP
Binance MORPHOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Injective. 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
- $91.79
- Price spread: −0.225% → −1.124%
- $89.89
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- $171.67
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Injective: no order-book sample; Binance: live order book, 15 min ago. 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 Injective no order-book sample | — | — | — | — | — |
| Sell Binance live order book, 15 min ago | 0.94 bp | 18.1 bp −$18 | 41.8 bp −$418 | doesn't fit | doesn't fit |
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 | −0.1853% | 1h | 2.6481 | −0.483% | $83K | $148K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.1288% | 1h | 2.6425 | −0.695% | $868 | $13K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1105% | 1h | 2.6537 | −0.274% | $11K | $911 | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0684% | 1h | 2.6513 | −0.365% | $26K | $1.8M | 5x | as long as short |
| Bybit MORPHOUSDT | −0.0644% | 4h | 2.6550 | −0.225% | $8.6M | $9.6M | 25x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0544% | 4h | 2.6520 | −0.336% | $29K | $154K | 10x | as long as short |
| Injective MORPHO/USDC PERPlong | −0.0337% | 1h | 2.6610 | long leg | $37 | $198K | 5.5x | |
| Coinbase International MORPHO-PERP-INTX | −0.0312% | 1h | 2.6617 | +0.026% | $77K | $45K | 25x | as long as short |
| Gate MORPHO_USDT | −0.0224% | 4h | 2.6508 | −0.383% | $773K | $530K | 50x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6503 | −0.402% | $646K | $246K | 20x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
Polymarket Perps MORPHO-USD
Bybit MORPHOUSDT
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
Gate MORPHO_USDT
BloFin MORPHO-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_MORPHO_USDC | −0.0164% | 4h | 2.6533 | −0.289% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6528 | −0.308% | $34K | $484K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6518 | −0.344% | $16 | — | 10x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6597 | −0.048% | $316K | $333K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6551 | −0.221% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6583 | −0.100% | $6.2M | $7.2M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6558 | −0.195% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDTshort | +0.0100% | 4h | 2.6550 | −0.225% | $16.2M | $26.2M | 75x | |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6565 | −0.169% | $3.2M | $4.4M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6549 | −0.229% | $5.5M | $1.0M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6526 | −0.316% | $620K | $266K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6534 | −0.286% | $2.9M | $1.9M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6547 | −0.237% | — | $1.5M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6529 | −0.304% | $644K | $1.2M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6523 | −0.327% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6526 | −0.317% | $103K | $301K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6551 | −0.223% | $1K | — | 100x | as long as short |
Orderly PERP_MORPHO_USDC
Phoenix MORPHO
Reya MORPHORUSDPERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster 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]