Funding you earn now, next payment 23:00 UTC−0.0312%/8h= −34.2% APRpaid last 24h −0.115%
Price spread now: Gate against Hyperliquid−0.288%7-day average −0.163% · you buy dearer than you sell
Net, funding: paid 7d − costs−$147as in the Funding arb table
Net, price: spread back to 7d avg − costs−$134as in the Price arb table
costs, in and out, $10k−$1221.217% of the position
Funding, last 7 days−0.253%−$25 on $10k
+Price spread, last 4 days (all we have)+0.033%+$3 · spread now −0.288%, 7d avg −0.163%
=Together, before fees−0.220%+ Points / potential airdropHyperliquid: Season 2 · farm board−$22 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Gate is 0.125% cheaper against Hyperliquid than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.163%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid MORPHO | 2.6604 | 0.0100 | pay 0.0013% / 1h | 55m 04s | $6.3M | $7.2M | 5x |
| Short | Gate MORPHO_USDT | 2.6528 | −0.0212 | pay 0.0106% / 4h | 1h 55m | $773K | $530K | 50x |
Hyperliquid MORPHO
Gate MORPHO_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate against Hyperliquid. 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
- −$65.52
- Price spread: −0.288% → −0.163%
- −$12.46
- Slippage, 4 orders
- −$97.68
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$199.66
- Costs to cover
- 1.217%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 7 min ago; Gate: live order book, 27 min ago.
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, 7 min ago | 1.13 bp | 14.3 bp −$14 | doesn't fit | doesn't fit | doesn't fit |
| Sell Gate live order book, 27 min ago | 7.33 bp | 48.4 bp −$48 | doesn't fit | doesn't fit | doesn't fit |
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 | −0.1850% | 1h | 2.6530 | −0.279% | $83K | $149K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.1224% | 1h | 2.6486 | −0.445% | $870 | $13K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0991% | 1h | 2.6549 | −0.209% | $11K | $911 | 10x | as long as short |
| Bybit MORPHOUSDT | −0.0622% | 4h | 2.6560 | −0.167% | $8.6M | $9.6M | 25x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0550% | 4h | 2.6519 | −0.321% | $29K | $154K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0533% | 1h | 2.6548 | −0.212% | $26K | $1.8M | 5x | as long as short |
| Injective MORPHO/USDC PERP | −0.0337% | 1h | 2.6610 | +0.021% | $37 | $198K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0312% | 1h | 2.6617 | +0.047% | $77K | $45K | 25x | as long as short |
| Gate MORPHO_USDTshort | −0.0212% | 4h | 2.6528 | −0.288% | $773K | $530K | 50x | |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6515 | −0.336% | $644K | $246K | 20x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
Bybit MORPHOUSDT
GRVT MORPHO_USDT_Perp
Polymarket Perps MORPHO-USD
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_MORPHO_USDC | −0.0162% | 4h | 2.6548 | −0.212% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6528 | −0.288% | $34K | $484K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6559 | −0.171% | $16 | — | 10x | as long as short |
| Variational Omni MORPHO | +0.0035% | 4h | 2.6558 | −0.176% | $643K | $1.2M | — | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6590 | −0.055% | $316K | $333K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6541 | −0.239% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHOlong | +0.0100% | 1h | 2.6604 | long leg | $6.3M | $7.2M | 5x | |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6558 | −0.175% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6547 | −0.215% | $16.2M | $26.2M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6573 | −0.118% | $3.2M | $4.4M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6547 | −0.216% | $5.5M | $1.0M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6546 | −0.220% | $620K | $266K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6559 | −0.171% | $2.9M | $1.9M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6558 | −0.175% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6548 | −0.212% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6543 | −0.233% | $103K | $301K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6581 | −0.087% | $1K | — | 100x | as long as short |
Orderly PERP_MORPHO_USDC
Phoenix MORPHO
Reya MORPHORUSDPERP
Variational Omni MORPHO
Lighter MORPHO
Paradex MORPHO-USD-PERP
Aster MORPHOUSDT
Binance MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]