Funding you earn now, next payment 21:00 UTC−0.0525%/8h= −57.5% APRpaid last 24h −0.024%
Price spread now: Injective against Binance+0.581%7-day average +1.127% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+1.196%+$120 on $10k
+Price spread, last 3 days (all we have)+0.411%+$41 · spread now +0.581%, 7d avg +1.127%
=Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Injective is 0.546% cheaper against Binance than usual: you would sell low and buy high (−$55 if the spread goes back to its 7-day average of +1.127%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +1.196%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance MORPHOUSDT | 2.6864 | 0.0100 | pay 0.0050% / 4h | 3h 23m | $16.5M | $26.9M | 75x |
| Short | Injective MORPHO/USDC PERP | 2.7020 | −0.0425 | pay 0.0053% / 1h | 23m 04s | $38 | $123K | 5.5x |
Binance MORPHOUSDT
Injective MORPHO/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Binance. 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
- −$110.25
- Price spread: +0.581% → +1.127%
- −$54.65
- Slippage, 4 orders
- no order book: not counted
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$174.92
- Costs to cover
- 0.100%
- Break-even
- never at this rate
Slippage unknown: Binance: live order book, 3 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 Binance live order book, 3 min ago | 1.11 bp | 15.4 bp −$15 | 40.8 bp −$408 | 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 | −0.1765% | 1h | 2.6792 | −0.269% | $84K | $152K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1647% | 1h | 2.6832 | −0.119% | $10K | $721 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0712% | 1h | 2.6773 | −0.339% | $880 | $12K | 5x | as long as short |
| Injective MORPHO/USDC PERPshort | −0.0425% | 1h | 2.7020 | +0.581% | $38 | $123K | 5.5x | |
| GRVT MORPHO_USDT_Perp | −0.0414% | 4h | 2.6889 | +0.093% | $41K | $151K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0247% | 1h | 2.6851 | −0.048% | $25K | $2.0M | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0240% | 1h | 2.6870 | +0.022% | $77K | $47K | 25x | as long as short |
| Bybit MORPHOUSDT | −0.0224% | 4h | 2.6880 | +0.060% | $8.8M | $10.2M | 25x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0205% | 4h | 2.6841 | −0.086% | $10K | $34K | 10x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6853 | −0.041% | $658K | $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
Orderly PERP_MORPHO_USDC
BloFin MORPHO-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | −0.0186% | 4h | 2.6874 | +0.037% | $770K | $534K | 50x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6858 | −0.022% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | +0.0059% | 1h | 2.6993 | +0.480% | $35K | $471K | 5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6879 | +0.057% | $320K | $357K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6828 | −0.134% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6920 | +0.208% | $6.4M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6843 | −0.078% | $59K | $33K | 20x | as long as short |
| Binance MORPHOUSDTlong | +0.0100% | 4h | 2.6864 | long leg | $16.5M | $26.9M | 75x | |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6887 | +0.086% | $3.2M | $4.6M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6856 | −0.030% | $5.3M | $1.1M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6897 | +0.123% | $605K | $273K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6862 | −0.007% | $2.9M | $2.0M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6841 | −0.086% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6965 | +0.377% | $655K | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6842 | −0.082% | $23K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6854 | −0.036% | $104K | $305K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0193% / S −16.5420% | 1h | 2.6872 | +0.028% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Reya MORPHORUSDPERP
Phoenix MORPHO
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]