MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0489%/8h= +53.5% APRnext payment +$0.61 per $10,000 · paid last 24h +0.029%

Price spread now: Extended against Injective−0.053%7-day average −1.144% · you buy dearer than you sell

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

Long on Injective Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−1.167%−$117 on $10k

Price spread, last 3 days (all we have)−1.099%−$110 · spread now −0.053%, 7d avg −1.144%

Together, before fees−2.267%+ Points / potential airdropExtended: Active · farm board−$227 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Extended is 1.091% dearer against Injective than usual: you sell high and buy low: +$109 more if the spread goes back to its 7-day average of −1.144%. Mind the row above: over the last 7 days funding on this pair cost −1.167%, 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	2.6460	−0.0385	get 0.0048% / 1h	45m 03s	$37	$161K	5.5x
Short	Extended MORPHO-USD	2.6446	0.0104	get 0.0013% / 1h	45m 03s	$103K	$301K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpFee ExtendedbpOrdersPrice spread, now −0.053%Rate

Funding earned: $102.62
Price spread: −0.053% → −1.144%: $109.15
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $206.75
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Extended: live order book, 42 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 Extended live order book, 42 min ago	2.23 bp	21.3 bp −$21	222.9 bp −$2,229	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	−0.2060%	1h	2.6460	0.000%	$82K	$148K	20x	as long as short
01 Exchange MORPHOUSD	−0.1144%	1h	2.6440	−0.076%	$869	$12K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0882%	1h	2.6466	+0.023%	$11K	$911	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0621%	1h	2.6471	+0.042%	$26K	$1.9M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0564%	4h	2.6519	+0.222%	$29K	$162K	10x	as long as short
Injective MORPHO/USDC PERPlong	−0.0385%	1h	2.6460	long leg	$37	$161K	5.5x
Coinbase International MORPHO-PERP-INTX	−0.0296%	1h	2.6527	+0.253%	$76K	$46K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6472	+0.045%	$650K	$221K	20x	as long as short
Bybit MORPHOUSDT	−0.0196%	4h	2.6468	+0.030%	$8.6M	$10.1M	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0188%	4h	2.6454	−0.023%	$10K	$34K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MORPHO_USDT	−0.0168%	4h	2.6475	+0.057%	$759K	$522K	50x	as long as short
Phoenix MORPHO	−0.0030%	1h	2.6530	+0.265%	$34K	$493K	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6469	+0.034%	$16	—	10x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6504	+0.166%	$316K	$335K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6480	+0.076%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6494	+0.128%	$6.2M	$7.2M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6494	+0.128%	$58K	$33K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6449	−0.043%	$16.2M	$26.9M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6472	+0.045%	$3.2M	$4.5M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6440	−0.076%	$5.3M	$1.2M	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6488	+0.106%	$621K	$272K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6463	+0.011%	$2.9M	$2.0M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6472	+0.045%	—	$1.5M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6515	+0.208%	$643K	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6450	−0.038%	$22K	$3K	5x	as long as short
Extended MORPHO-USDshort	+0.0104%	1h	2.6446	−0.053%	$103K	$301K	10x
GMX MORPHO/USD [ETH-USDC]	L +0.0188% / S −12.8197%	1h	2.6478	+0.067%	$1K	—	100x	as long as short