MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0248%/8h= +27.2% APRnext payment +$0.31 per $10,000 · paid last 24h +0.030%

Price spread now: Injective against Polymarket Perps−0.068%51s7-day average +1.014% · you buy dearer than you sell

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

Long on Polymarket Perps Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+1.277%+$128 on $10k

Price spread, last 3 days (all we have)+0.046%+$5 · spread now −0.068%, 7d avg +1.014%

Together, before fees+1.323%+$132 on $10k · with fees, hour by hour

Funding pays, the price is against you. Injective is 1.082% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.068% now, against its 7-day average of +1.014%). If the spread goes back, that is −$108 on $10k: about 15 days of funding at the current rate (+$7 a day). At the pace of the last 7 days (+1.277% in total) that is about 5.9 days. The two prices were read 51 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	Polymarket Perps MORPHO-USD	2.6448	−0.0215	get 0.0027% / 1h	46m 25s	$28K	$1.7M	5x
Short	Injective MORPHO/USDC PERP	2.6430	0.0033	get 0.0004% / 1h	46m 25s	$37	$242K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Polymarket Perps. 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 Polymarket PerpsbpFee InjectivebpOrdersPrice spread, now −0.068%Rate

Funding earned: $52.12
Price spread: −0.068% → +1.014%: −$108.21
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$64.1
Costs to cover: 0.080%
Break-even: 15.6 days

Slippage unknown: Polymarket Perps: live order book, 2 min ago; 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 Polymarket Perps live order book, 2 min ago	2.27 bp	6.6 bp −$7	8.3 bp −$83	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

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	−0.1841%	1h	2.6407	−0.155%	$80K	$132K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0619%	1h	2.6442	−0.023%	$11K	$788	10x	as long as short
01 Exchange MORPHOUSD	−0.0504%	1h	2.6439	−0.034%	$869	$13K	5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0280%	1h	2.6453	+0.019%	$76K	$43K	25x	as long as short
Variational Omni MORPHO	−0.0242%	4h	2.6451	+0.011%	$628K	$1.0M	—	as long as short
Polymarket Perps MORPHO-USDlong	−0.0215%	1h	2.6448	long leg	$28K	$1.7M	5x
BloFin MORPHO-USDT	−0.0171%	4h	2.6424	−0.091%	$639K	$228K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0144%	4h	2.6427	−0.079%	$10K	$34K	10x	as long as short
GRVT MORPHO_USDT_Perp	−0.0066%	4h	2.6431	−0.064%	$41K	$133K	10x	as long as short
Gate MORPHO_USDT	−0.0062%	4h	2.6466	+0.068%	$766K	$516K	50x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix MORPHO	−0.0030%	1h	2.6497	+0.185%	$43K	$474K	5x	as long as short
Bybit MORPHOUSDT	−0.0026%	4h	2.6447	−0.004%	$8.3M	$9.3M	25x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6448	0.000%	$16	—	10x	as long as short
Injective MORPHO/USDC PERPshort	+0.0033%	1h	2.6430	−0.068%	$37	$242K	5.5x
MEXC MORPHO_USDT	+0.0084%	4h	2.6448	0.000%	$5.5M	$901K	100x	as long as short
Binance MORPHOUSDT	+0.0086%	4h	2.6434	−0.053%	$16.0M	$26.0M	75x	as long as short
Extended MORPHO-USD	+0.0088%	1h	2.6447	−0.003%	$106K	$389K	10x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6507	+0.222%	$317K	$325K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6443	−0.020%	$5K	$3	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6469	+0.080%	$58K	$30K	20x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6442	−0.023%	$3.2M	$4.5M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6466	+0.068%	$592K	$266K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6443	−0.019%	$2.9M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6436	−0.045%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6440	−0.030%	$22K	$4K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0158% / S −0.3418%	1h	2.6451	+0.010%	$1K	—	100x	as long as short
Hyperliquid MORPHO	+0.0303%	1h	2.6517	+0.261%	$6.2M	$7.0M	5x	as long as short