Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0485%/8h= −53.1% APRpaid last 24h −0.024%

Price spread now: Injective against Paradex+1.492%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Injective

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

The price spread pays, funding is against you. Injective is 1.492% dearer against Paradex than usual: you sell high and buy low (spread +1.492% now, against zero (this spread has no 7-day history yet)): +$149 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 10 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex MORPHO-USD-PERP	2.6623	0.0100	pay 0.0100% / 8h	2h 56m	$5K	$3	5x
Short	Injective MORPHO/USDC PERP	2.7020	−0.0385	pay 0.0048% / 1h	56m 11s	$38	$123K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Paradex. 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 ParadexbpFee InjectivebpOrdersPrice spread, now +1.492%Rate

Funding earned: −$101.78
Price spread: +1.492% → 0.000%: $149.18
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $43.38
Costs to cover: 0.040%
Break-even: from the start

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

Paradex and 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	−0.2048%	1h	2.6617	−0.023%	$84K	$147K	20x	as long as short
01 Exchange MORPHOUSD	−0.1264%	1h	2.6546	−0.289%	$872	$12K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1212%	1h	2.6643	+0.076%	$10K	$623	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0703%	1h	2.6631	+0.031%	$25K	$2.0M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0532%	4h	2.6764	+0.530%	$41K	$151K	10x	as long as short
Bybit MORPHOUSDT	−0.0415%	4h	2.6670	+0.177%	$8.8M	$10.0M	25x	as long as short
Injective MORPHO/USDC PERPshort	−0.0385%	1h	2.7020	+1.492%	$38	$123K	5.5x
Coinbase International MORPHO-PERP-INTX	−0.0296%	1h	2.6813	+0.714%	$77K	$46K	25x	as long as short
Gate MORPHO_USDT	−0.0264%	4h	2.6660	+0.140%	$761K	$517K	50x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6671	+0.181%	$654K	$205K	20x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_MORPHO_USDC	−0.0199%	4h	2.6632	+0.034%	$10K	$34K	10x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6640	+0.063%	$16	—	10x	as long as short
Phoenix MORPHO	+0.0059%	1h	2.6824	+0.756%	$34K	$470K	5x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6684	+0.231%	$318K	$335K	5x	as long as short
Paradex MORPHO-USD-PERPlong	+0.0100%	8h	2.6623	long leg	$5K	$3	5x
Hyperliquid MORPHO	+0.0100%	1h	2.6699	+0.285%	$6.3M	$7.1M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6684	+0.230%	$58K	$33K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6630	+0.028%	$16.3M	$26.8M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6674	+0.192%	$3.2M	$4.6M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6630	+0.027%	$5.4M	$1.1M	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6666	+0.162%	$601K	$270K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6652	+0.110%	$2.9M	$2.0M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6641	+0.068%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6815	+0.723%	$651K	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6639	+0.061%	$22K	$3K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6625	+0.008%	$104K	$301K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0193% / S −16.5420%	1h	2.6664	+0.156%	$1K	—	100x	as long as short