Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.047%

Price spread now: Aster against Injective−1.899%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Aster

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Aster is 1.899% cheaper against Injective than usual: you would sell low and buy high (spread −1.899% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$190 on $10k: about 3 months of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective MORPHO/USDC PERP	2.6430	0.0033	pay 0.0004% / 1h	42m 42s	$37	$242K	5.5x
Short	Aster MORPHOUSDT	2.5928	0.0100	get 0.0050% / 4h	42m 42s	$55K	$45K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee InjectivebpFee AsterbpOrdersPrice spread, now −1.899%Rate

Funding earned: $14
Price spread: −1.899% → 0.000%: −$189.94
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Aster: 4 bp × 2 orders: −$8
Net: −$183.96
Costs to cover: 0.080%
Break-even: 99.0 days

Slippage unknown: Injective: no order-book sample; Aster: 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 Injective no order-book sample	—	—	—	—	—
Sell Aster no order-book sample	—	—	—	—	—

Injective and 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 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
Deribit MORPHO_USDC-PERPETUAL	−0.1562%	1h	2.5885	−2.062%	$11K	$3K	10x	as long as short
01 Exchange MORPHOUSD	−0.1472%	1h	2.5805	−2.365%	$848	$9K	5x	as long as short
Kraken Futures PF_MORPHOUSD	−0.1234%	1h	2.5847	−2.207%	$84K	$133K	20x	as long as short
GRVT MORPHO_USDT_Perp	−0.0598%	4h	2.5896	−2.020%	$30K	$134K	10x	as long as short
Bybit MORPHOUSDT	−0.0511%	4h	2.5920	−1.930%	$7.9M	$8.7M	25x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0496%	1h	2.5898	−2.013%	$71K	$36K	25x	as long as short
Polymarket Perps MORPHO-USD	−0.0410%	1h	2.5896	−2.020%	$24K	$1.4M	5x	as long as short
Variational Omni MORPHO	−0.0208%	4h	2.5930	−1.892%	$618K	$676K	—	as long as short
Phoenix MORPHO	−0.0185%	1h	2.5962	−1.771%	$33K	$336K	5x	as long as short
Orderly PERP_MORPHO_USDC	−0.0182%	4h	2.5881	−2.077%	$10K	$34K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin MORPHO-USDT	−0.0100%	4h	2.5875	−2.100%	$633K	$239K	20x	as long as short
Gate MORPHO_USDT	−0.0072%	4h	2.5918	−1.937%	$759K	$502K	50x	as long as short
Binance MORPHOUSDT	−0.0032%	4h	2.5901	−2.002%	$15.6M	$24.5M	75x	as long as short
Extended MORPHO-USD	−0.0024%	1h	2.5869	−2.122%	$99K	$342K	10x	as long as short
MEXC MORPHO_USDT	−0.0024%	4h	2.5890	−2.043%	$6.3M	$903K	100x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.5887	−2.054%	$16	—	10x	as long as short
Injective MORPHO/USDC PERPlong	+0.0033%	1h	2.6430	long leg	$37	$242K	5.5x
Lighter MORPHO	+0.0096%	1h	2.5901	−2.002%	$311K	$287K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.5887	−2.054%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.5933	−1.880%	$5.9M	$7.0M	5x	as long as short
Aster MORPHOUSDTshort	+0.0100%	4h	2.5928	−1.899%	$55K	$45K	20x
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.5923	−1.918%	$3.2M	$4.2M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.5899	−2.009%	$590K	$264K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.5895	−2.024%	$2.8M	$1.6M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.5918	−1.937%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.5879	−2.085%	$21K	$4K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0186% / S −15.6829%	1h	2.5917	−1.940%	$1K	—	100x	as long as short