Funding you earn now, next payment 05:00 UTC+0.0067%/8h= +7.3% APRnext payment +$0.08 per $10,000 · paid last 24h +0.048%
Price spread now: SoDEX against Injective−1.635%62s7-day average — · you buy dearer than you sell
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
Funding pays, the price is against you. SoDEX is 1.635% cheaper against Injective than usual: you would sell low and buy high (spread −1.635% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$163 on $10k: about 3 months of funding at the current rate (+$2 a day). The two prices were read 62 seconds apart, so part of this spread may be the market moving, not a spread.
| 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 | 27m 25s | $37 | $242K | 5.5x |
| Short | SoDEX MORPHO-USD | 2.5998 | 0.0100 | get 0.0013% / 1h | 27m 25s | $21K | $4K | 5x |
Injective MORPHO/USDC PERP
SoDEX MORPHO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
SoDEX 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: −1.635% → 0.000%
- −$163.45
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Net
- −$157.47
- Costs to cover
- 0.080%
- Break-even
- 85.7 days
Slippage unknown: Injective: no order-book sample; SoDEX: 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 SoDEX no order-book sample | — | — | — | — | — |
Injective and SoDEX: 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 | −0.2172% | 1h | 2.5992 | −1.657% | $81K | $124K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1363% | 1h | 2.5993 | −1.653% | $11K | $2K | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0936% | 1h | 2.5958 | −1.786% | $853 | $9K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0490% | 4h | 2.5997 | −1.637% | $34K | $140K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0216% | 1h | 2.6099 | −1.252% | $75K | $41K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.5981 | −1.699% | $636K | $241K | 20x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0179% | 1h | 2.6025 | −1.532% | $24K | $1.5M | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0134% | 4h | 2.6006 | −1.604% | $10K | $34K | 10x | as long as short |
| Bybit MORPHOUSDT | −0.0127% | 4h | 2.6010 | −1.589% | $8.1M | $8.5M | 25x | as long as short |
| Phoenix MORPHO | −0.0061% | 1h | 2.6042 | −1.468% | $43K | $337K | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Polymarket Perps MORPHO-USD
Orderly PERP_MORPHO_USDC
Bybit MORPHOUSDT
Phoenix MORPHOShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.6000 | −1.625% | $16 | — | 10x | as long as short |
| Injective MORPHO/USDC PERPlong | +0.0033% | 1h | 2.6430 | long leg | $37 | $242K | 5.5x | |
| Gate MORPHO_USDT | +0.0092% | 4h | 2.6013 | −1.578% | $763K | $471K | 50x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6036 | −1.492% | $313K | $293K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5997 | −1.640% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6058 | −1.407% | $6.0M | $6.8M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6044 | −1.459% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6003 | −1.617% | $15.7M | $24.0M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6033 | −1.502% | $3.2M | $4.0M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6003 | −1.616% | $6.0M | $836K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6044 | −1.460% | $598K | $249K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6002 | −1.619% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6014 | −1.574% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6040 | −1.474% | $620K | $675K | — | as long as short |
| SoDEX MORPHO-USDshort | +0.0100% | 1h | 2.5998 | −1.635% | $21K | $4K | 5x | |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6000 | −1.629% | $101K | $344K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6037 | −1.486% | $1K | — | 100x | as long as short |
Reya MORPHORUSDPERP
Gate MORPHO_USDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]