Funding you earn now, next payment 02:00 UTC−0.0071%/8h= −7.7% APRnext payment −$0.09 per $10,000 · paid last 24h −0.043%
Price spread now: Injective against Extended+0.582%7-day average +1.081% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+1.004%+$100 on $10k
+Price spread, last 3 days (all we have)−1.686%−$169 · spread now +0.582%, 7d avg +1.081%
=Together, before fees−0.682%+ Points / potential airdropExtended: Active · farm board−$68 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 0.498% cheaper against Extended than usual: you would sell low and buy high (−$50 if the spread goes back to its 7-day average of +1.081%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +1.004%, 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 | Extended MORPHO-USD | 2.6277 | 0.0104 | pay 0.0013% / 1h | 22m 40s | $101K | $355K | 10x |
| Short | Injective MORPHO/USDC PERP | 2.6430 | 0.0033 | get 0.0004% / 1h | 22m 40s | $37 | $242K | 5.5x |
Extended MORPHO-USD
Injective MORPHO/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Extended. 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
- −$14.84
- Price spread: +0.582% → +1.081%
- −$49.85
- Slippage, 4 orders
- no order book: not counted
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$69.71
- Costs to cover
- 0.050%
- Break-even
- never at this rate
Slippage unknown: Extended: live order book, 45 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 Extended live order book, 45 min ago | 3.19 bp | 23.5 bp −$23 | 237.2 bp −$2,372 | 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 26 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 | −0.1909% | 1h | 2.6239 | −0.145% | $80K | $128K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0625% | 1h | 2.6268 | −0.034% | $11K | $785 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0456% | 1h | 2.6257 | −0.076% | $863 | $10K | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0232% | 1h | 2.6299 | +0.084% | $75K | $42K | 25x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0153% | 4h | 2.6257 | −0.076% | $10K | $34K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0112% | 1h | 2.6272 | −0.019% | $32K | $1.8M | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6263 | −0.052% | $16 | — | 10x | as long as short |
| GRVT MORPHO_USDT_Perp | +0.0022% | 4h | 2.6273 | −0.015% | $32K | $142K | 10x | as long as short |
| Phoenix MORPHO | +0.0030% | 1h | 2.6299 | +0.084% | $43K | $426K | 5x | as long as short |
| Injective MORPHO/USDC PERPshort | +0.0033% | 1h | 2.6430 | +0.582% | $37 | $242K | 5.5x |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Coinbase International MORPHO-PERP-INTX
Orderly PERP_MORPHO_USDC
Polymarket Perps MORPHO-USD
Reya MORPHORUSDPERP
GRVT MORPHO_USDT_Perp
Phoenix MORPHOShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter MORPHO | +0.0096% | 1h | 2.6304 | +0.104% | $315K | $319K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6279 | +0.006% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6334 | +0.217% | $6.2M | $7.0M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6302 | +0.096% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6281 | +0.016% | $15.9M | $25.2M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6284 | +0.027% | $8.3M | $9.3M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6308 | +0.118% | $3.2M | $4.3M | 20x | as long as short |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.6289 | +0.046% | $766K | $505K | 50x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6284 | +0.027% | $5.5M | $888K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6313 | +0.137% | $597K | $255K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6299 | +0.084% | $2.9M | $1.7M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6295 | +0.069% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6281 | +0.014% | $626K | $912K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6265 | −0.046% | $22K | $4K | 5x | as long as short |
| Extended MORPHO-USDlong | +0.0104% | 1h | 2.6277 | long leg | $101K | $355K | 10x | |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6282 | +0.017% | $1K | — | 100x | as long as short |
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
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
GMX MORPHO/USD [ETH-USDC]