MORPHO

Alert

Funding spread now, next payment 14:00 UTC−0.2344%/8h

paid, last 24h−0.016%paid, last 7 days−0.038%to open and close $10k−$29

The current rate is far above what this pair has been paying: over the last 7 days it paid -0.038% in total (about -2.0% 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	2.7943	0.2444	pay 0.0306% / 1h	40m 37s	$6.9M	$7.7M	5x
Short	MEXC MORPHO_USDT	2.7858	0.0100	get 0.0050% / 4h	2h 40m	$4.8M	$1.3M	100x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee MEXCbpOrdersRate

Funding earned: −$492.31
Slippage, 4 orders: −$16.12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$521.43
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 3 min ago; MEXC: live order book, 3 min ago.

Price risk

price view

Price gap now: −0.304%
Avg gap 7d: −0.146%

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	1.25 bp	7.5 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	1.98 bp	8.1 bp −$8	45.2 bp −$452	188.6 bp −$18.9K	doesn't fit

MORPHO on 26 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Deribit MORPHO_USDC-PERPETUAL	−0.0791%	1h	$11K	$443	10x	as long as short
01 Exchange MORPHOUSD	−0.0504%	1h	$914	$10K	5x	as long as short
Gate MORPHO_USDT	−0.0462%	4h	$769K	$536K	50x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	$691K	$250K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0027%	4h	$11K	$34K	10x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	$17	—	10x	as long as short
Phoenix MORPHO	0.0000%	1h	$36K	$501K	5x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	$38	$137K	5.5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	$5K	$3	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	$61K	$32K	20x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Binance MORPHOUSDT	+0.0100%	4h	$17.0M	$28.9M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	$9.2M	$10.6M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	$3.3M	$5.8M	20x	as long as short
MEXC MORPHO_USDTshort	+0.0100%	4h	$4.8M	$1.3M	100x
KuCoin MORPHOUSDTM	+0.0100%	4h	$659K	$326K	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	$692K	$1.4M	—	as long as short
Polymarket Perps MORPHO-USD	+0.0100%	1h	$32K	$3.0M	5x	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	$23K	$2K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	$104K	$304K	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	+0.0207%	1h	$100K	$190K	20x	as long as short
Lighter MORPHO	+0.0272%	1h	$327K	$415K	5x	as long as short
Coinbase International MORPHO-PERP-INTX	+0.0384%	1h	$81K	$53K	25x	as long as short
Hyperliquid MORPHOlong	+0.2444%	1h	$6.9M	$7.7M	5x