Funding you earn now, next payment 09:00 UTC+0.1332%/8h= +145.9% APRnext payment +$1.67 per $10,000 · paid last 24h +0.264%
Price spread now: Injective against Deribit+2.497%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$40 a day on $10k at the current rate, and Injective is 2.497% dearer against Deribit than usual: you sell high and buy low: +$250 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 | Deribit MORPHO_USDC-PERPETUAL | 2.5786 | −0.1299 | get 0.0162% / 1h | 53m 18s | $11K | $3K | 10x |
| Short | Injective MORPHO/USDC PERP | 2.6430 | 0.0033 | get 0.0004% / 1h | 53m 18s | $37 | $242K | 5.5x |
Deribit MORPHO_USDC-PERPETUAL
Injective MORPHO/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Deribit. 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
- $279.75
- Price spread: +2.497% → 0.000%
- $249.75
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $522.48
- Costs to cover
- 0.070%
- Break-even
- from the start
Slippage unknown: Deribit: 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 Deribit no order-book sample | — | — | — | — | — |
| Sell Injective no order-book sample | — | — | — | — | — |
Deribit 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 | −0.2468% | 1h | 2.5756 | −0.117% | $84K | $134K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUALlong | −0.1299% | 1h | 2.5786 | long leg | $11K | $3K | 10x | |
| 01 Exchange MORPHOUSD | −0.0952% | 1h | 2.5757 | −0.112% | $846 | $9K | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0552% | 1h | 2.5579 | −0.803% | $70K | $37K | 25x | as long as short |
| Variational Omni MORPHO | −0.0458% | 4h | 2.5776 | −0.040% | $614K | $526K | — | as long as short |
| BloFin MORPHO-USDT | −0.0411% | 4h | 2.5777 | −0.035% | $630K | $238K | 20x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0380% | 4h | 2.5752 | −0.132% | $30K | $123K | 10x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0276% | 4h | 2.5778 | −0.031% | $10K | $34K | 10x | as long as short |
| Aster MORPHOUSDT | −0.0198% | 4h | 2.5772 | −0.056% | $54K | $49K | 20x | as long as short |
| MEXC MORPHO_USDT | −0.0172% | 4h | 2.5778 | −0.031% | $6.3M | $909K | 100x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Coinbase International MORPHO-PERP-INTX
Variational Omni MORPHO
BloFin MORPHO-USDT
GRVT MORPHO_USDT_Perp
Orderly PERP_MORPHO_USDC
Aster MORPHOUSDT
MEXC MORPHO_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance MORPHOUSDT | −0.0171% | 4h | 2.5779 | −0.029% | $15.5M | $23.9M | 75x | as long as short |
| Extended MORPHO-USD | −0.0168% | 1h | 2.5775 | −0.043% | $99K | $375K | 10x | as long as short |
| Phoenix MORPHO | −0.0155% | 1h | 2.5793 | +0.027% | $33K | $308K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.5794 | +0.031% | $15 | — | 10x | as long as short |
| Injective MORPHO/USDC PERPshort | +0.0033% | 1h | 2.6430 | +2.497% | $37 | $242K | 5.5x | |
| Gate MORPHO_USDT | +0.0042% | 4h | 2.5794 | +0.031% | $759K | $483K | 50x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.5803 | +0.066% | $311K | $283K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5783 | −0.012% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.5836 | +0.194% | $5.9M | $7.0M | 5x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.5796 | +0.039% | $7.8M | $8.4M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.5798 | +0.047% | $3.2M | $4.1M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.5792 | +0.023% | $586K | $264K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5795 | +0.035% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5795 | +0.035% | — | $1.4M | — | as long as short |
| Polymarket Perps MORPHO-USD | +0.0100% | 1h | 2.5823 | +0.143% | $25K | $1.4M | 5x | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.5780 | −0.023% | $21K | $5K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0156% / S −12.8912% | 1h | 2.5812 | +0.100% | $1K | — | 100x | as long as short |
Binance MORPHOUSDT
Extended MORPHO-USD
Phoenix MORPHO
Reya MORPHORUSDPERP
Gate MORPHO_USDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Polymarket Perps MORPHO-USD
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]