Funding you earn now, next payment 00:00 UTC+0.0259%/8h= +28.4% APRpaid last 24h −0.026%
Price spread now: Orderly against Injective+0.318%58s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Orderly is 0.318% dearer against Injective than usual: you sell high and buy low: +$32 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 58 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 | −0.0405 | get 0.0051% / 1h | 11m 31s | $37 | $242K | 5.5x |
| Short | Orderly PERP_MORPHO_USDC | 2.6514 | −0.0146 | pay 0.0073% / 4h | 11m 31s | $10K | $34K | 10x |
Injective MORPHO/USDC PERP
Orderly PERP_MORPHO_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- $54.38
- Price spread: +0.318% → 0.000%
- $31.78
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- $80.15
- Costs to cover
- 0.060%
- Break-even
- from the start
Slippage unknown: Injective: no order-book sample; Orderly: 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 Injective no order-book sample | — | — | — | — | — |
| Sell Orderly no order-book sample | — | — | — | — | — |
Injective and Orderly: 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 | −0.1756% | 1h | 2.6481 | +0.193% | $81K | $143K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.0840% | 1h | 2.6452 | +0.083% | $869 | $12K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0767% | 1h | 2.6520 | +0.341% | $11K | $812 | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0461% | 1h | 2.6497 | +0.253% | $28K | $1.7M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0460% | 4h | 2.6511 | +0.306% | $41K | $146K | 10x | as long as short |
| Injective MORPHO/USDC PERPlong | −0.0405% | 1h | 2.6430 | long leg | $37 | $242K | 5.5x | |
| Coinbase International MORPHO-PERP-INTX | −0.0360% | 1h | 2.6555 | +0.473% | $76K | $43K | 25x | as long as short |
| Bybit MORPHOUSDT | −0.0336% | 4h | 2.6505 | +0.284% | $8.4M | $9.2M | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0195% | 4h | 2.6493 | +0.238% | $636K | $253K | 20x | as long as short |
| Variational Omni MORPHO | −0.0165% | 4h | 2.6511 | +0.307% | $629K | $1.0M | — | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
Bybit MORPHOUSDT
BloFin MORPHO-USDT
Variational Omni MORPHOShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_MORPHO_USDCshort | −0.0146% | 4h | 2.6514 | +0.318% | $10K | $34K | 10x | |
| Phoenix MORPHO | −0.0060% | 1h | 2.6531 | +0.382% | $43K | $477K | 5x | as long as short |
| Gate MORPHO_USDT | −0.0058% | 4h | 2.6539 | +0.412% | $771K | $532K | 50x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6489 | +0.224% | $16 | — | 10x | as long as short |
| MEXC MORPHO_USDT | +0.0046% | 4h | 2.6497 | +0.253% | $5.5M | $961K | 100x | as long as short |
| Extended MORPHO-USD | +0.0048% | 1h | 2.6497 | +0.253% | $103K | $298K | 10x | as long as short |
| Binance MORPHOUSDT | +0.0053% | 4h | 2.6500 | +0.266% | $16.1M | $26.0M | 75x | as long as short |
| Aster MORPHOUSDT | +0.0090% | 4h | 2.6508 | +0.295% | $58K | $30K | 20x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6544 | +0.432% | $316K | $331K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6485 | +0.208% | $5K | $3 | 5x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6497 | +0.253% | $3.2M | $4.5M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6539 | +0.412% | $594K | $268K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6535 | +0.397% | $2.9M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6512 | +0.310% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6509 | +0.299% | $22K | $4K | 5x | as long as short |
| Hyperliquid MORPHO | +0.0108% | 1h | 2.6567 | +0.518% | $6.3M | $7.0M | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0158% / S −0.3418% | 1h | 2.6541 | +0.419% | $1K | — | 100x | as long as short |
Phoenix MORPHO
Gate MORPHO_USDT
Reya MORPHORUSDPERP
MEXC MORPHO_USDT
Extended MORPHO-USD
Binance MORPHOUSDT
Aster MORPHOUSDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
Hyperliquid MORPHO
GMX MORPHO/USD [ETH-USDC]