Funding you earn now, next payment 09:00 UTC+0.0105%/8h= +11.5% APRnext payment +$0.13 per $10,000 · paid last 24h +0.062%
Price spread now: Hyperliquid against Reya+0.144%61s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropReya: Active · Hyperliquid: Season 2 · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Hyperliquid is 0.144% dearer against Reya than usual: you sell high and buy low: +$14 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 61 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 | Reya MORPHORUSDPERP | 2.5968 | −0.0005 | get 0.0001% / 1h | 14m 34s | $16 | — | 10x |
| Short | Hyperliquid MORPHO | 2.6005 | 0.0100 | get 0.0013% / 1h | 14m 34s | $5.9M | $7.0M | 5x |
Reya MORPHORUSDPERP
Hyperliquid MORPHOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Reya. 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
- $21.97
- Price spread: +0.144% → 0.000%
- $14.35
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $21.32
- Costs to cover
- 0.150%
- Break-even
- 0.2 days
Slippage unknown: Reya: no order-book sample; Hyperliquid: live order book, 8 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 Reya no order-book sample | — | — | — | — | — |
| Sell Hyperliquid live order book, 8 min ago | 0.97 bp | 11.7 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
Reya: 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 | −0.2447% | 1h | 2.5975 | +0.028% | $84K | $124K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.0744% | 1h | 2.5958 | −0.039% | $853 | $9K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0712% | 1h | 2.5972 | +0.015% | $11K | $3K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0552% | 1h | 2.5932 | −0.139% | $70K | $38K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0388% | 4h | 2.5960 | −0.031% | $632K | $240K | 20x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0386% | 4h | 2.5854 | −0.439% | $30K | $123K | 10x | as long as short |
| Variational Omni MORPHO | −0.0330% | 4h | 2.6001 | +0.127% | $619K | $526K | — | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0318% | 4h | 2.5972 | +0.015% | $10K | $34K | 10x | as long as short |
| Aster MORPHOUSDT | −0.0305% | 4h | 2.5984 | +0.061% | $55K | $48K | 20x | as long as short |
| Phoenix MORPHO | −0.0155% | 1h | 2.5920 | −0.185% | $33K | $308K | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
GRVT MORPHO_USDT_Perp
Variational Omni MORPHO
Orderly PERP_MORPHO_USDC
Aster MORPHOUSDT
Phoenix MORPHOShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended MORPHO-USD | −0.0152% | 1h | 2.5959 | −0.037% | $100K | $370K | 10x | as long as short |
| MEXC MORPHO_USDT | −0.0148% | 4h | 2.5972 | +0.015% | $6.4M | $933K | 100x | as long as short |
| Binance MORPHOUSDT | −0.0143% | 4h | 2.5968 | 0.000% | $15.6M | $23.5M | 75x | as long as short |
| Reya MORPHORUSDPERPlong | −0.0005% | 1h | 2.5968 | long leg | $16 | — | 10x | |
| Bybit MORPHOUSDT | +0.0026% | 4h | 2.5976 | +0.030% | $7.8M | $8.3M | 25x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +1.779% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6065 | +0.373% | $313K | $284K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5960 | −0.033% | $5K | $203 | 5x | as long as short |
| Hyperliquid MORPHOshort | +0.0100% | 1h | 2.6005 | +0.144% | $5.9M | $7.0M | 5x | |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.5961 | −0.027% | $3.2M | $4.1M | 20x | as long as short |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.5985 | +0.065% | $763K | $489K | 50x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6000 | +0.123% | $581K | $267K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5961 | −0.027% | $2.8M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5993 | +0.096% | — | $1.4M | — | as long as short |
| Polymarket Perps MORPHO-USD | +0.0100% | 1h | 2.6000 | +0.123% | $25K | $1.3M | 5x | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.5967 | −0.004% | $21K | $5K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0157% / S −12.8912% | 1h | 2.5988 | +0.075% | $1K | — | 100x | as long as short |
Extended MORPHO-USD
MEXC MORPHO_USDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
Injective MORPHO/USDC PERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
OKX MORPHO-USDT-SWAP
Gate MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Polymarket Perps MORPHO-USD
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]