Funding you earn now, next payment 05:00 UTC+0.0105%/8h= +11.4% APRnext payment +$0.13 per $10,000 · paid last 24h +0.062%
Price spread now: Hyperliquid against Reya+0.217%7-day average — · you sell dearer than you buy
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—+ Points / potential airdropReya: Active · Hyperliquid: Season 2 · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Hyperliquid is 0.217% dearer against Reya than usual: you sell high and buy low: +$22 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Reya MORPHORUSDPERP | 2.5908 | −0.0005 | get 0.0001% / 1h | 8m 40s | $16 | — | 10x |
| Short | Hyperliquid MORPHO | 2.5964 | 0.0100 | get 0.0013% / 1h | 8m 40s | $6.0M | $6.8M | 5x |
Reya MORPHORUSDPERP
Hyperliquid MORPHOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Reya. 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
- $21.96
- Price spread: +0.217% → 0.000%
- $21.72
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $28.67
- Costs to cover
- 0.150%
- Break-even
- from the start
Slippage unknown: Reya: no order-book sample; Hyperliquid: live order book, 3 min ago. 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 Reya no order-book sample | — | — | — | — | — |
| Sell Hyperliquid live order book, 3 min ago | 2.31 bp | 14.6 bp −$15 | doesn't fit | doesn't fit | doesn't fit |
Reya: 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 | −0.2180% | 1h | 2.5896 | −0.045% | $81K | $124K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1563% | 1h | 2.5879 | −0.111% | $11K | $2K | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0976% | 1h | 2.5851 | −0.219% | $849 | $9K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0514% | 4h | 2.5967 | +0.228% | $34K | $140K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0216% | 1h | 2.5993 | +0.329% | $74K | $41K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.5880 | −0.107% | $632K | $244K | 20x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0163% | 1h | 2.5931 | +0.090% | $24K | $1.5M | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0134% | 4h | 2.5904 | −0.014% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0061% | 1h | 2.6000 | +0.356% | $43K | $337K | 5x | as long as short |
| Reya MORPHORUSDPERPlong | −0.0005% | 1h | 2.5908 | long leg | $16 | — | 10x |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Polymarket Perps MORPHO-USD
Orderly PERP_MORPHO_USDC
Phoenix MORPHOShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +2.016% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.5944 | +0.142% | $312K | $294K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5928 | +0.078% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHOshort | +0.0100% | 1h | 2.5964 | +0.217% | $6.0M | $6.8M | 5x | |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.5947 | +0.152% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.5931 | +0.090% | $15.6M | $24.0M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.5940 | +0.125% | $8.0M | $8.5M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.5953 | +0.175% | $3.2M | $4.0M | 20x | as long as short |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.5925 | +0.067% | $770K | $483K | 50x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.5929 | +0.082% | $6.0M | $840K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.5955 | +0.182% | $596K | $246K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5912 | +0.016% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5944 | +0.140% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.5970 | +0.241% | $619K | $675K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.5899 | −0.034% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.5917 | +0.035% | $99K | $346K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.5930 | +0.085% | $1K | — | 100x | as long as short |
Injective MORPHO/USDC PERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
Gate MORPHO_USDT
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]