Funding you earn now, next payment 03:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h −0.108%
Price spread now: Gate against Hyperliquid−0.118%7-day average −0.164% · you buy dearer than you sell
Net, funding: paid 7d − costs−$149as in the Funding arb table
Net, price: spread back to 7d avg − costs−$118as in the Price arb table
costs, in and out, $10k−$1221.222% of the position
Funding, last 7 days−0.264%−$26 on $10k
+Price spread, last 4 days (all we have)−0.206%−$21 · spread now −0.118%, 7d avg −0.164%
=Together, before fees−0.470%+ Points / potential airdropHyperliquid: Season 2 · farm board−$47 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Gate is 0.047% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.118% now, against its 7-day average of −0.164%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.6 days. At the pace of the last 7 days (−0.264% in total) that is about 30 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid MORPHO | 2.6321 | 0.0100 | pay 0.0013% / 1h | 18m 29s | $6.2M | $6.9M | 5x |
| Short | Gate MORPHO_USDT | 2.6290 | 0.0040 | get 0.0020% / 4h | 1h 18m | $757K | $504K | 50x |
Hyperliquid MORPHO
Gate MORPHO_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate against Hyperliquid. 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
- −$12.6
- Price spread: −0.118% → −0.164%
- $4.66
- Slippage, 4 orders
- −$98.19
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$130.14
- Costs to cover
- 1.222%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 4 min ago; Gate: live order book, 43 min ago.
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 Hyperliquid live order book, 4 min ago | 1.71 bp | 19.0 bp −$19 | doesn't fit | doesn't fit | doesn't fit |
| Sell Gate live order book, 43 min ago | 7.05 bp | 41.2 bp −$41 | doesn't fit | doesn't fit | doesn't fit |
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 | −0.1670% | 1h | 2.6243 | −0.297% | $82K | $127K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1042% | 1h | 2.6278 | −0.163% | $11K | $759 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0656% | 1h | 2.6234 | −0.331% | $862 | $9K | 5x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6264 | −0.217% | $637K | $243K | 20x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0192% | 1h | 2.6345 | +0.091% | $75K | $42K | 25x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0157% | 4h | 2.6278 | −0.163% | $10K | $34K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0152% | 1h | 2.6276 | −0.171% | $25K | $1.7M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0130% | 4h | 2.6293 | −0.108% | $32K | $142K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.6276 | −0.172% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | 0.0000% | 1h | 2.6313 | −0.030% | $43K | $392K | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
BloFin MORPHO-USDT
Coinbase International MORPHO-PERP-INTX
Orderly PERP_MORPHO_USDC
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Reya MORPHORUSDPERP
Phoenix MORPHOShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +0.414% | $37 | $242K | 5.5x | as long as short |
| Gate MORPHO_USDTshort | +0.0040% | 4h | 2.6290 | −0.118% | $757K | $504K | 50x | |
| Lighter MORPHO | +0.0096% | 1h | 2.6302 | −0.073% | $315K | $308K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6253 | −0.258% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHOlong | +0.0100% | 1h | 2.6321 | long leg | $6.2M | $6.9M | 5x | |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6289 | −0.121% | $58K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6260 | −0.232% | $15.8M | $25.4M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6290 | −0.118% | $8.3M | $9.2M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6284 | −0.141% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6256 | −0.247% | $5.8M | $841K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6315 | −0.023% | $598K | $251K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6291 | −0.114% | $2.8M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6293 | −0.106% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6345 | +0.092% | $628K | $848K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6270 | −0.194% | $22K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6253 | −0.259% | $101K | $353K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6316 | −0.019% | $1K | — | 100x | as long as short |
Injective MORPHO/USDC PERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]