Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.048%

Price spread now: Paradex against Injective−0.671%7-day average — · you buy dearer than you sell

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

Long on Injective Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.671% cheaper against Injective than usual: you would sell low and buy high (spread −0.671% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$67 on $10k: about 34 days of funding at the current rate (+$2 a day).

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	29m 45s	$37	$242K	5.5x
Short	Paradex MORPHO-USD-PERP	2.6253	0.0100	get 0.0100% / 8h	4h 29m	$5K	$3	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.671%Rate

Funding earned: $14
Price spread: −0.671% → 0.000%: −$67.13
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$57.15
Costs to cover: 0.040%
Break-even: 35.6 days

Slippage unknown: Injective: no order-book sample; Paradex: 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 Paradex no order-book sample	—	—	—	—	—

Injective and Paradex: 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	−0.1650%	1h	2.6251	−0.678%	$82K	$128K	20x	as long as short
01 Exchange MORPHOUSD	−0.1016%	1h	2.6212	−0.825%	$861	$9K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0776%	1h	2.6278	−0.575%	$11K	$969	10x	as long as short
GRVT MORPHO_USDT_Perp	−0.0286%	4h	2.6069	−1.366%	$34K	$140K	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0224%	1h	2.6294	−0.515%	$75K	$42K	25x	as long as short
Polymarket Perps MORPHO-USD	−0.0215%	1h	2.6255	−0.662%	$25K	$1.6M	5x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6226	−0.772%	$638K	$243K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0147%	4h	2.6263	−0.632%	$10K	$34K	10x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.6242	−0.712%	$16	—	10x	as long as short
Phoenix MORPHO	0.0000%	1h	2.6192	−0.900%	$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	+0.0022%	4h	2.6311	−0.450%	$770K	$483K	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	2.6303	−0.479%	$316K	$309K	5x	as long as short
Paradex MORPHO-USD-PERPshort	+0.0100%	8h	2.6253	−0.671%	$5K	$3	5x
Hyperliquid MORPHO	+0.0100%	1h	2.6322	−0.409%	$6.1M	$6.9M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6306	−0.470%	$58K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6289	−0.533%	$15.9M	$25.0M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6300	−0.492%	$8.3M	$8.9M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6290	−0.530%	$3.2M	$4.3M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6294	−0.515%	$5.9M	$813K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6313	−0.443%	$599K	$252K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6267	−0.617%	$2.8M	$1.7M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6290	−0.530%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6215	−0.812%	$625K	$745K	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6271	−0.602%	$22K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6290	−0.530%	$100K	$348K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0186% / S −15.6829%	1h	2.6267	−0.615%	$1K	—	100x	as long as short