Funding you earn now, next payment 22:00 UTC+0.0485%/8h= +53.1% APRnext payment +$0.61 per $10,000 · paid last 24h +0.029%
Price spread now: SoDEX against Injective−0.555%62s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 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
Funding pays, the price is against you. SoDEX is 0.555% cheaper against Injective than usual: you would sell low and buy high (spread −0.555% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$55 on $10k: about 3.8 days of funding at the current rate (+$15 a day). The two prices were read 62 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 | 2.6670 | −0.0385 | get 0.0048% / 1h | 48m 08s | $37 | $142K | 5.5x |
| Short | SoDEX MORPHO-USD | 2.6522 | 0.0100 | get 0.0013% / 1h | 48m 08s | $22K | $3K | 5x |
Injective MORPHO/USDC PERP
SoDEX MORPHO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
SoDEX 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
- $101.78
- Price spread: −0.555% → 0.000%
- −$55.49
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Net
- $38.27
- Costs to cover
- 0.080%
- Break-even
- 4.4 days
Slippage unknown: Injective: no order-book sample; SoDEX: 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 SoDEX no order-book sample | — | — | — | — | — |
Injective and SoDEX: 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 | −0.2057% | 1h | 2.6499 | −0.642% | $82K | $148K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1293% | 1h | 2.6531 | −0.521% | $11K | $911 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.1256% | 1h | 2.6470 | −0.750% | $870 | $12K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0632% | 4h | 2.6610 | −0.225% | $30K | $162K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0618% | 1h | 2.6522 | −0.555% | $25K | $1.9M | 5x | as long as short |
| Injective MORPHO/USDC PERPlong | −0.0385% | 1h | 2.6670 | long leg | $37 | $142K | 5.5x | |
| Coinbase International MORPHO-PERP-INTX | −0.0296% | 1h | 2.6527 | −0.536% | $76K | $46K | 25x | as long as short |
| Bybit MORPHOUSDT | −0.0236% | 4h | 2.6530 | −0.525% | $8.6M | $10.1M | 25x | as long as short |
| Gate MORPHO_USDT | −0.0212% | 4h | 2.6529 | −0.529% | $759K | $521K | 50x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6487 | −0.686% | $649K | $216K | 20x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Polymarket Perps MORPHO-USD
Coinbase International MORPHO-PERP-INTX
Bybit MORPHOUSDT
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 | −0.0192% | 4h | 2.6524 | −0.547% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6664 | −0.022% | $34K | $493K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6518 | −0.569% | $16 | — | 10x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6561 | −0.407% | $316K | $335K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6540 | −0.489% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6562 | −0.405% | $6.2M | $7.2M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6533 | −0.515% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6529 | −0.529% | $16.3M | $26.9M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6537 | −0.499% | $3.2M | $4.5M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6514 | −0.585% | $5.3M | $1.1M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6525 | −0.544% | $598K | $272K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6517 | −0.574% | $2.9M | $2.0M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6521 | −0.559% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6630 | −0.149% | $647K | $1.4M | — | as long as short |
| SoDEX MORPHO-USDshort | +0.0100% | 1h | 2.6522 | −0.555% | $22K | $3K | 5x | |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6515 | −0.580% | $103K | $301K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6551 | −0.447% | $1K | — | 100x | as long as short |
Orderly PERP_MORPHO_USDC
Phoenix MORPHO
Reya MORPHORUSDPERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]