Funding you earn now, next payment 00:00 UTC−0.0508%/8h= −55.6% APRnext payment −$0.64 per $10,000 · paid last 24h −0.226%
Price spread now: Deribit against Injective+0.700%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread pays, funding is against you. Deribit is 0.700% dearer against Injective than usual: you sell high and buy low (spread +0.700% now, against zero (this spread has no 7-day history yet)): +$70 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 4.6 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective MORPHO/USDC PERP | 2.6430 | −0.0405 | get 0.0051% / 1h | 48m 38s | $37 | $242K | 5.5x |
| Short | Deribit MORPHO_USDC-PERPETUAL | 2.6615 | −0.0913 | pay 0.0114% / 1h | 48m 38s | $11K | $812 | 10x |
Injective MORPHO/USDC PERP
Deribit MORPHO_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Injective. 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
- −$106.69
- Price spread: +0.700% → 0.000%
- $70
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$43.72
- Costs to cover
- 0.070%
- Break-even
- from the start
Slippage unknown: Injective: no order-book sample; Deribit: 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 Deribit no order-book sample | — | — | — | — | — |
Injective and Deribit: 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_MORPHOUSD | −0.1748% | 1h | 2.6598 | +0.634% | $83K | $140K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUALshort | −0.0913% | 1h | 2.6615 | +0.700% | $11K | $812 | 10x | |
| 01 Exchange MORPHOUSD | −0.0624% | 1h | 2.6530 | +0.378% | $872 | $12K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0536% | 4h | 2.6564 | +0.508% | $29K | $134K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0526% | 1h | 2.6562 | +0.499% | $26K | $1.7M | 5x | as long as short |
| Injective MORPHO/USDC PERPlong | −0.0405% | 1h | 2.6430 | long leg | $37 | $242K | 5.5x | |
| Bybit MORPHOUSDT | −0.0365% | 4h | 2.6596 | +0.628% | $8.5M | $9.2M | 25x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0360% | 1h | 2.6654 | +0.848% | $77K | $43K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0222% | 4h | 2.6605 | +0.662% | $639K | $251K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0147% | 4h | 2.6608 | +0.673% | $10K | $34K | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Polymarket Perps MORPHO-USD
Bybit MORPHOUSDT
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDCShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | −0.0118% | 4h | 2.6604 | +0.658% | $773K | $531K | 50x | as long as short |
| Variational Omni MORPHO | −0.0109% | 4h | 2.6572 | +0.536% | $630K | $1.0M | — | as long as short |
| Phoenix MORPHO | −0.0060% | 1h | 2.6612 | +0.689% | $44K | $477K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6558 | +0.484% | $16 | — | 10x | as long as short |
| Extended MORPHO-USD | +0.0016% | 1h | 2.6577 | +0.555% | $103K | $301K | 10x | as long as short |
| MEXC MORPHO_USDT | +0.0018% | 4h | 2.6592 | +0.613% | $5.5M | $940K | 100x | as long as short |
| Binance MORPHOUSDT | +0.0018% | 4h | 2.6569 | +0.528% | $16.1M | $25.8M | 75x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6631 | +0.759% | $317K | $331K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6582 | +0.573% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6665 | +0.889% | $6.3M | $7.0M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6590 | +0.607% | $58K | $31K | 20x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6560 | +0.492% | $3.2M | $4.4M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6603 | +0.655% | $596K | $271K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6604 | +0.658% | $2.9M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6593 | +0.617% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6603 | +0.655% | $22K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −0.3373% | 1h | 2.6650 | +0.833% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Variational Omni MORPHO
Phoenix MORPHO
Reya MORPHORUSDPERP
Extended MORPHO-USD
MEXC MORPHO_USDT
Binance MORPHOUSDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]