MORPHO

Alert

Funding spread now, next payment 18:00 UTC+0.1157%/8h

next payment, per $10,000+$1.45paid, last 24h+0.251%paid, last 3 days+0.509%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MORPHO_USDC-PERPETUAL	2.6751	−0.1057	get 0.0132% / 1h	59m 31s	$10K	$745	10x
Short	Hyperliquid MORPHO	2.6769	0.0100	get 0.0013% / 1h	59m 31s	$6.4M	$7.1M	5x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee DeribitbpFee HyperliquidbpOrdersRate

Funding earned: $242.9
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $226.9
Break-even: 0.5 days

Slippage unknown: Deribit: no order-book sample; Hyperliquid: live order book, 4 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.067%
Avg gap 7d: —

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Deribit no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 4 min ago	1.31 bp	12.9 bp −$13	doesn't fit	doesn't fit	doesn't fit

Deribit: 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 26 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Deribit MORPHO_USDC-PERPETUALlong	−0.1057%	1h	$10K	$745	10x
Kraken Futures PF_MORPHOUSD	−0.0937%	1h	$84K	$167K	20x	as long as short
01 Exchange MORPHOUSD	−0.0864%	1h	$878	$11K	5x	as long as short
Polymarket Perps MORPHO-USD	−0.0686%	1h	$27K	$2.7M	5x	as long as short
Gate MORPHO_USDT	−0.0666%	4h	$766K	$534K	50x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0336%	1h	$77K	$47K	25x	as long as short
BloFin MORPHO-USDT	−0.0231%	4h	$668K	$205K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0203%	4h	$10K	$34K	10x	as long as short
Bybit MORPHOUSDT	−0.0145%	4h	$8.8M	$10.3M	25x	as long as short
Phoenix MORPHO	−0.0059%	1h	$34K	$478K	5x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Reya MORPHORUSDPERP	−0.0004%	1h	$16	—	10x	as long as short
MEXC MORPHO_USDT	+0.0012%	4h	$4.8M	$1.2M	100x	as long as short
Extended MORPHO-USD	+0.0016%	1h	$101K	$304K	10x	as long as short
Binance MORPHOUSDT	+0.0017%	4h	$16.5M	$27.5M	75x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	$38	$34K	5.5x	as long as short
Variational Omni MORPHO	+0.0062%	4h	$652K	$1.4M	—	as long as short
Lighter MORPHO	+0.0096%	1h	$315K	$359K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0099%	8h	$5K	$3	5x	as long as short
Hyperliquid MORPHOshort	+0.0100%	1h	$6.4M	$7.1M	5x
Aster MORPHOUSDT	+0.0100%	4h	$58K	$31K	20x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	$3.2M	$4.6M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	$595K	$344K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	$2.9M	$2.1M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	—	$1.5M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	$22K	$2K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0158% / S −0.0698%	1h	$2K	—	100x	as long as short