MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0067%/8h= +7.3% APRnext payment +$0.08 per $10,000 · paid last 24h +0.079%

Price spread now: Hyperliquid against Injective−1.139%53s7-day average −0.894% · you buy dearer than you sell

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

Long on Injective Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.920%−$92 on $10k

Price spread, last 4 days (all we have)+0.247%+$25 · spread now −1.139%, 7d avg −0.894%

Together, before fees−0.672%+ Points / potential airdropHyperliquid: Season 2 · farm board−$67 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.245% cheaper against Injective than usual: you would sell low and buy high (spread −1.139% now, against its 7-day average of −0.894%). If the spread goes back, that is −$25 on $10k: about 12 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.920%, so the current rate has only just turned in your favour. 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	Injective MORPHO/USDC PERP	2.6430	0.0033	pay 0.0004% / 1h	58m 15s	$37	$242K	5.5x
Short	Hyperliquid MORPHO	2.6129	0.0100	get 0.0013% / 1h	58m 15s	$6.1M	$6.9M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −1.139%Rate

Funding earned: $14
Price spread: −1.139% → −0.894%: −$24.52
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$19.54
Costs to cover: 0.090%
Break-even: 16.8 days

Slippage unknown: Injective: no order-book sample; Hyperliquid: live order book, 4 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 Hyperliquid live order book, 4 min ago	1.15 bp	13.9 bp −$14	doesn't fit	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	−0.1665%	1h	2.6024	−1.535%	$81K	$127K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1130%	1h	2.6058	−1.407%	$11K	$759	10x	as long as short
01 Exchange MORPHOUSD	−0.0960%	1h	2.6025	−1.532%	$855	$9K	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0228%	4h	2.6068	−1.368%	$32K	$142K	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0224%	1h	2.6084	−1.309%	$75K	$42K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6070	−1.362%	$640K	$241K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0157%	4h	2.6050	−1.438%	$10K	$34K	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0071%	1h	2.6085	−1.305%	$25K	$1.7M	5x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.6073	−1.350%	$16	—	10x	as long as short
Phoenix MORPHO	0.0000%	1h	2.6083	−1.313%	$43K	$370K	5x	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	+0.0008%	4h	2.6100	−1.249%	$755K	$477K	50x	as long as short
Injective MORPHO/USDC PERPlong	+0.0033%	1h	2.6430	long leg	$37	$242K	5.5x
Lighter MORPHO	+0.0096%	1h	2.6105	−1.228%	$313K	$308K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6089	−1.288%	$5K	$3	5x	as long as short
Hyperliquid MORPHOshort	+0.0100%	1h	2.6129	−1.139%	$6.1M	$6.9M	5x
Aster MORPHOUSDT	+0.0100%	4h	2.6115	−1.192%	$57K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6052	−1.432%	$15.7M	$25.3M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6076	−1.339%	$8.2M	$9.2M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6083	−1.313%	$3.2M	$4.3M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6066	−1.377%	$5.8M	$787K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6111	−1.207%	$593K	$251K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6094	−1.271%	$2.8M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6081	−1.320%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6085	−1.307%	$622K	$847K	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6059	−1.404%	$21K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6047	−1.450%	$100K	$350K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0186% / S −15.6829%	1h	2.6079	−1.328%	$1K	—	100x	as long as short