Funding you earn now, next payment 01:00 UTC+0.0038%/8h= +4.1% APRnext payment +$0.05 per $10,000 · paid last 24h −0.013%
Price spread now: Injective against Reya−0.345%52s7-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
=Funding pays, the price is against you. Injective is 0.345% cheaper against Reya than usual: you would sell low and buy high (spread −0.345% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$34 on $10k: about 30 days of funding at the current rate (+$1 a day). The two prices were read 52 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 | Reya MORPHORUSDPERP | 2.6521 | −0.0004 | get 0.0001% / 1h | 41m 46s | $16 | — | 10x |
| Short | Injective MORPHO/USDC PERP | 2.6430 | 0.0033 | get 0.0004% / 1h | 41m 46s | $37 | $242K | 5.5x |
Reya MORPHORUSDPERP
Injective MORPHO/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- $7.94
- Price spread: −0.345% → 0.000%
- −$34.47
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$32.55
- Costs to cover
- 0.060%
- Break-even
- 35.7 days
Slippage unknown: Reya: 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 Reya no order-book sample | — | — | — | — | — |
| Sell Injective no order-book sample | — | — | — | — | — |
Reya 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 | −0.1834% | 1h | 2.6499 | −0.085% | $80K | $132K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0466% | 1h | 2.6528 | +0.025% | $11K | $785 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0456% | 1h | 2.6537 | +0.059% | $872 | $13K | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0280% | 1h | 2.6554 | +0.123% | $76K | $43K | 25x | as long as short |
| Variational Omni MORPHO | −0.0242% | 4h | 2.6451 | −0.266% | $628K | $1.0M | — | as long as short |
| BloFin MORPHO-USDT | −0.0191% | 4h | 2.6518 | −0.013% | $639K | $229K | 20x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0154% | 1h | 2.6530 | +0.032% | $28K | $1.7M | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0141% | 4h | 2.6519 | −0.009% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6525 | +0.014% | $43K | $474K | 5x | as long as short |
| Reya MORPHORUSDPERPlong | −0.0004% | 1h | 2.6521 | long leg | $16 | — | 10x |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Coinbase International MORPHO-PERP-INTX
Variational Omni MORPHO
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 PERPshort | +0.0033% | 1h | 2.6430 | −0.345% | $37 | $242K | 5.5x | |
| GRVT MORPHO_USDT_Perp | +0.0064% | 4h | 2.6465 | −0.213% | $41K | $133K | 10x | as long as short |
| MEXC MORPHO_USDT | +0.0094% | 4h | 2.6545 | +0.089% | $5.5M | $902K | 100x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6629 | +0.405% | $319K | $325K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6538 | +0.061% | $5K | $3 | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6555 | +0.128% | $58K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6542 | +0.079% | $16.1M | $25.9M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6558 | +0.138% | $8.4M | $9.2M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6542 | +0.078% | $3.2M | $4.5M | 20x | as long as short |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.6543 | +0.081% | $768K | $516K | 50x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6563 | +0.157% | $595K | $266K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6554 | +0.123% | $2.9M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6549 | +0.104% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6519 | −0.009% | $22K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6537 | +0.058% | $101K | $426K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0158% / S −0.3418% | 1h | 2.6541 | +0.074% | $1K | — | 100x | as long as short |
| Hyperliquid MORPHO | +0.0347% | 1h | 2.6597 | +0.285% | $6.3M | $7.0M | 5x | as long as short |
GRVT MORPHO_USDT_Perp
MEXC MORPHO_USDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
Gate MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]
Hyperliquid MORPHO