Funding you earn now, next payment 08:00 UTC+0.0065%/8h= +7.2% APRnext payment +$0.08 per $10,000 · paid last 24h −0.045%
Price spread now: Injective against Extended+2.114%7-day average +1.105% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.786%+$79 on $10k
+Price spread, last 4 days (all we have)−3.218%−$322 · spread now +2.114%, 7d avg +1.105%
=Together, before fees−2.432%+ Points / potential airdropExtended: Active · farm board−$243 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Injective is 1.008% dearer against Extended than usual: you sell high and buy low: +$101 more if the spread goes back to its 7-day average of +1.105%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended MORPHO-USD | 2.5883 | −0.0032 | get 0.0004% / 1h | 40m 41s | $99K | $342K | 10x |
| Short | Injective MORPHO/USDC PERP | 2.6430 | 0.0033 | get 0.0004% / 1h | 40m 41s | $37 | $242K | 5.5x |
Extended MORPHO-USD
Injective MORPHO/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Extended. 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
- $13.72
- Price spread: +2.114% → +1.105%
- $100.83
- Slippage, 4 orders
- no order book: not counted
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $109.53
- Costs to cover
- 0.050%
- Break-even
- from the start
Slippage unknown: Extended: live order book, 62 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 Extended live order book, 62 min ago | 2.89 bp | 22.4 bp −$22 | 180.3 bp −$1,803 | 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 | −0.1754% | 1h | 2.5892 | +0.035% | $11K | $3K | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.1472% | 1h | 2.5819 | −0.247% | $848 | $9K | 5x | as long as short |
| Kraken Futures PF_MORPHOUSD | −0.1234% | 1h | 2.5851 | −0.124% | $84K | $133K | 20x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0598% | 4h | 2.5896 | +0.051% | $30K | $134K | 10x | as long as short |
| Bybit MORPHOUSDT | −0.0520% | 4h | 2.5907 | +0.093% | $7.9M | $8.7M | 25x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0496% | 1h | 2.5910 | +0.104% | $71K | $37K | 25x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0402% | 1h | 2.5907 | +0.093% | $24K | $1.4M | 5x | as long as short |
| Variational Omni MORPHO | −0.0281% | 4h | 2.5910 | +0.104% | $617K | $676K | — | as long as short |
| Phoenix MORPHO | −0.0185% | 1h | 2.5911 | +0.108% | $33K | $336K | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0183% | 4h | 2.5891 | +0.031% | $10K | $34K | 10x | as long as short |
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Kraken Futures PF_MORPHOUSD
GRVT MORPHO_USDT_Perp
Bybit MORPHOUSDT
Coinbase International MORPHO-PERP-INTX
Polymarket Perps MORPHO-USD
Variational Omni MORPHO
Phoenix MORPHO
Orderly PERP_MORPHO_USDCShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BloFin MORPHO-USDT | −0.0128% | 4h | 2.5887 | +0.016% | $632K | $239K | 20x | as long as short |
| Gate MORPHO_USDT | −0.0072% | 4h | 2.5902 | +0.074% | $758K | $503K | 50x | as long as short |
| Binance MORPHOUSDT | −0.0035% | 4h | 2.5879 | −0.017% | $15.6M | $24.5M | 75x | as long as short |
| Extended MORPHO-USDlong | −0.0032% | 1h | 2.5883 | long leg | $99K | $342K | 10x | |
| MEXC MORPHO_USDT | −0.0032% | 4h | 2.5869 | −0.054% | $6.3M | $903K | 100x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.5894 | +0.043% | $16 | — | 10x | as long as short |
| Injective MORPHO/USDC PERPshort | +0.0033% | 1h | 2.6430 | +2.114% | $37 | $242K | 5.5x | |
| Lighter MORPHO | +0.0096% | 1h | 2.5902 | +0.073% | $311K | $287K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5864 | −0.075% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.5926 | +0.166% | $5.9M | $7.0M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.5928 | +0.174% | $55K | $45K | 20x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.5888 | +0.019% | $3.2M | $4.2M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.5927 | +0.170% | $591K | $264K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5877 | −0.023% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5885 | +0.008% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.5891 | +0.031% | $21K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.5926 | +0.168% | $1K | — | 100x | as long as short |
BloFin MORPHO-USDT
Gate MORPHO_USDT
Binance MORPHOUSDT
MEXC MORPHO_USDT
Reya MORPHORUSDPERP
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]