Funding you earn now, next payment 02:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.043%
Price spread now: MEXC against Injective−0.882%7-day average −1.058% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−1.011%−$101 on $10k
+Price spread, last 3 days (all we have)+2.038%+$204 · spread now −0.882%, 7d avg −1.058%
=Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and MEXC is 0.177% dearer against Injective than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of −1.058%. Mind the row above: over the last 7 days funding on this pair cost −1.011%, so the current rate has only just turned in your favour.
| 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 | 20m 35s | $37 | $242K | 5.5x |
| Short | MEXC MORPHO_USDT | 2.6197 | 0.0100 | get 0.0050% / 4h | 2h 20m | $5.5M | $888K | 100x |
Injective MORPHO/USDC PERP
MEXC MORPHO_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- $14
- Price spread: −0.882% → −1.058%
- $17.69
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee MEXC: 2 bp × 2 orders
- −$4
- Net
- $27.67
- Costs to cover
- 0.040%
- Break-even
- from the start
Slippage unknown: Injective: no order-book sample; MEXC: live order book, 2 min ago. 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 MEXC live order book, 2 min ago | 0.57 bp | 4.3 bp −$4 | 22.0 bp −$220 | 126.8 bp −$12.7K | doesn't fit |
Injective: 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: 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 | −0.1913% | 1h | 2.6186 | −0.924% | $80K | $128K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.0456% | 1h | 2.6203 | −0.859% | $861 | $10K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0436% | 1h | 2.6239 | −0.723% | $11K | $785 | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0232% | 1h | 2.6299 | −0.496% | $75K | $42K | 25x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0154% | 4h | 2.6234 | −0.742% | $10K | $34K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0111% | 1h | 2.6236 | −0.734% | $28K | $1.8M | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6229 | −0.759% | $16 | — | 10x | as long as short |
| GRVT MORPHO_USDT_Perp | +0.0018% | 4h | 2.6269 | −0.610% | $32K | $142K | 10x | as long as short |
| Phoenix MORPHO | +0.0030% | 1h | 2.6252 | −0.673% | $43K | $426K | 5x | as long as short |
| Injective MORPHO/USDC PERPlong | +0.0033% | 1h | 2.6430 | long leg | $37 | $242K | 5.5x |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
Coinbase International MORPHO-PERP-INTX
Orderly PERP_MORPHO_USDC
Polymarket Perps MORPHO-USD
Reya MORPHORUSDPERP
GRVT MORPHO_USDT_Perp
Phoenix MORPHOShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | +0.0060% | 4h | 2.6200 | −0.870% | $763K | $505K | 50x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6243 | −0.707% | $314K | $319K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6188 | −0.916% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6247 | −0.692% | $6.2M | $7.0M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6245 | −0.700% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6196 | −0.885% | $15.8M | $25.2M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6200 | −0.870% | $8.3M | $9.3M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6220 | −0.795% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDTshort | +0.0100% | 4h | 2.6197 | −0.882% | $5.5M | $888K | 100x | |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6228 | −0.764% | $595K | $255K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6203 | −0.859% | $2.9M | $1.7M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6213 | −0.821% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6220 | −0.794% | $625K | $912K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6229 | −0.760% | $22K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6189 | −0.912% | $101K | $355K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6233 | −0.747% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]