Funding you earn now, next payment 07:00 UTC+0.1409%/8h= +154.3% APRnext payment +$1.76 per $10,000 · paid last 24h +0.087%
Price spread now: Injective against Kraken Futures+1.943%7-day average +1.037% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+1.108%+$111 on $10k
+Price spread, last 4 days (all we have)−1.527%−$153 · spread now +1.943%, 7d avg +1.037%
=Both sides work for this trade now. Funding pays +$42 a day on $10k at the current rate, and Injective is 0.906% dearer against Kraken Futures than usual: you sell high and buy low: +$91 more if the spread goes back to its 7-day average of +1.037%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_MORPHOUSD | 2.5926 | −0.1376 | get 0.0172% / 1h | 55m 00s | $81K | $137K | 20x |
| Short | Injective MORPHO/USDC PERP | 2.6430 | 0.0033 | get 0.0004% / 1h | 55m 00s | $37 | $242K | 5.5x |
Kraken Futures PF_MORPHOUSD
Injective MORPHO/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Kraken Futures. 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
- $295.98
- Price spread: +1.943% → +1.037%
- $90.6
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $376.56
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Kraken Futures: live order book, 52 min ago; Injective: 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 Kraken Futures live order book, 52 min ago | 10.99 bp | 24.5 bp −$25 | 3069.4 bp −$30.7K | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
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 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 | −0.1826% | 1h | 2.5952 | +0.099% | $11K | $2K | 10x | as long as short |
| Kraken Futures PF_MORPHOUSDlong | −0.1376% | 1h | 2.5926 | long leg | $81K | $137K | 20x | |
| 01 Exchange MORPHOUSD | −0.1000% | 1h | 2.5900 | −0.101% | $851 | $9K | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0432% | 1h | 2.5824 | −0.395% | $73K | $40K | 25x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0290% | 4h | 2.5956 | +0.114% | $30K | $134K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0254% | 1h | 2.5964 | +0.145% | $27K | $1.5M | 5x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.5956 | +0.115% | $639K | $240K | 20x | as long as short |
| Phoenix MORPHO | −0.0154% | 1h | 2.5983 | +0.219% | $33K | $339K | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0124% | 4h | 2.5950 | +0.091% | $10K | $34K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.5948 | +0.082% | $16 | — | 10x | as long as short |
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Coinbase International MORPHO-PERP-INTX
GRVT MORPHO_USDT_Perp
Polymarket Perps MORPHO-USD
BloFin MORPHO-USDT
Phoenix MORPHO
Orderly PERP_MORPHO_USDC
Reya MORPHORUSDPERPShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective MORPHO/USDC PERPshort | +0.0033% | 1h | 2.6430 | +1.943% | $37 | $242K | 5.5x | |
| Lighter MORPHO | +0.0096% | 1h | 2.5999 | +0.281% | $313K | $294K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5945 | +0.074% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6000 | +0.285% | $5.9M | $7.0M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.5983 | +0.218% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.5940 | +0.053% | $15.7M | $24.5M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.5960 | +0.130% | $8.0M | $8.6M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.5970 | +0.169% | $3.2M | $4.1M | 20x | as long as short |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.5981 | +0.211% | $766K | $508K | 50x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.5945 | +0.072% | $6.2M | $895K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.5979 | +0.203% | $589K | $256K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5955 | +0.111% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5958 | +0.122% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.5960 | +0.132% | $618K | $677K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.5947 | +0.080% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.5940 | +0.054% | $100K | $342K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6364% | 1h | 2.5978 | +0.198% | $1K | — | 100x | as long as short |
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
Gate MORPHO_USDT
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]