MORPHO

Alert

Funding spread now, next payment 14:00 UTC−0.1004%/8h

paid, last 24h−0.016%paid, last 5 days−0.115%to open and closeno order book

The current rate is far above what this pair has been paying: over the last 5 days it paid -0.115% in total (about -8.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MORPHO	2.7740	0.1104	pay 0.0138% / 1h	1m 06s	$6.7M	$7.9M	5x
Short	Aster MORPHOUSDT	2.7705	0.0100	get 0.0050% / 4h	2h 01m	$60K	$34K	20x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee AsterbpOrdersRate

Funding earned: −$210.85
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: −$227.85
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 3 min ago; Aster: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: −0.125%
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 Hyperliquid live order book, 3 min ago	1.80 bp	7.8 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Aster no order-book sample	—	—	—	—	—

Aster: 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-PERPETUAL	−0.1193%	1h	$11K	$443	10x	as long as short
01 Exchange MORPHOUSD	−0.0640%	1h	$909	$9K	5x	as long as short
Gate MORPHO_USDT	−0.0416%	4h	$768K	$574K	50x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	$688K	$250K	20x	as long as short
Polymarket Perps MORPHO-USD	−0.0095%	1h	$33K	$3.0M	5x	as long as short
Bybit MORPHOUSDT	−0.0045%	4h	$9.0M	$10.8M	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0032%	4h	$11K	$34K	10x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	$17	—	10x	as long as short
Phoenix MORPHO	0.0000%	1h	$35K	$501K	5x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	$38	$137K	5.5x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Lighter MORPHO	+0.0096%	1h	$320K	$460K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	$5K	$3	5x	as long as short
Aster MORPHOUSDTshort	+0.0100%	4h	$60K	$34K	20x
Binance MORPHOUSDT	+0.0100%	4h	$16.9M	$29.6M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	$3.3M	$5.8M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	$4.9M	$1.3M	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	$644K	$337K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	$3.0M	$2.5M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	—	$1.5M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	$676K	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	$23K	$2K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	$104K	$310K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0191% / S −0.0633%	1h	$1K	—	100x	as long as short
Kraken Futures PF_MORPHOUSD	+0.0209%	1h	$98K	$196K	20x	as long as short
Coinbase International MORPHO-PERP-INTX	+0.0384%	1h	$81K	$53K	25x	as long as short
Hyperliquid MORPHOlong	+0.1104%	1h	$6.7M	$7.9M	5x