Funding you earn now, next payment 00:00 UTC−0.0049%/8h= −5.4% APRpaid last 24h −0.029%
Price spread now: MEXC against Hyperliquid−0.282%7-day average −0.155% · you buy dearer than you sell
Net, funding: paid 7d − costs−$46as in the Funding arb table
Net, price: spread back to 7d avg − costs−$53as in the Price arb table
costs, in and out, $10k−$410.406% of the position
Funding, last 7 days−0.051%−$5 on $10k
+Price spread, last 7 days+0.174%+$17 · spread now −0.282%, 7d avg −0.155%
=Together, before fees+0.123%+ Points / potential airdropHyperliquid: Season 2 · farm board+$12 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and MEXC is 0.127% cheaper against Hyperliquid than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.155%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid MORPHO | 2.6626 | 0.0103 | pay 0.0013% / 1h | 3m 21s | $6.3M | $7.0M | 5x |
| Short | MEXC MORPHO_USDT | 2.6551 | 0.0054 | get 0.0027% / 4h | 3m 21s | $5.5M | $961K | 100x |
Hyperliquid MORPHO
MEXC MORPHO_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- −$10.37
- Price spread: −0.282% → −0.155%
- −$12.69
- Slippage, 4 orders
- −$27.58
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee MEXC: 2 bp × 2 orders
- −$4
- Net
- −$63.64
- Costs to cover
- 0.406%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 9 min ago; MEXC: live order book, 4 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, 9 min ago | 1.69 bp | 11.3 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell MEXC live order book, 4 min ago | 0.19 bp | 6.0 bp −$6 | 43.5 bp −$435 | 204.0 bp −$20.4K | 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 | −0.1752% | 1h | 2.6534 | −0.347% | $81K | $143K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1179% | 1h | 2.6555 | −0.267% | $11K | $812 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0864% | 1h | 2.6495 | −0.492% | $871 | $12K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0467% | 1h | 2.6552 | −0.278% | $28K | $1.7M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0450% | 4h | 2.6509 | −0.438% | $41K | $146K | 10x | as long as short |
| Injective MORPHO/USDC PERP | −0.0405% | 1h | 2.6430 | −0.736% | $37 | $242K | 5.5x | as long as short |
| Bybit MORPHOUSDT | −0.0362% | 4h | 2.6550 | −0.285% | $8.4M | $9.3M | 25x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0360% | 1h | 2.6546 | −0.300% | $76K | $43K | 25x | as long as short |
| Variational Omni MORPHO | −0.0201% | 4h | 2.6491 | −0.505% | $630K | $1.0M | — | as long as short |
| BloFin MORPHO-USDT | −0.0187% | 4h | 2.6506 | −0.451% | $637K | $253K | 20x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Injective MORPHO/USDC PERP
Bybit MORPHOUSDT
Coinbase International MORPHO-PERP-INTX
Variational Omni MORPHO
BloFin MORPHO-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_MORPHO_USDC | −0.0144% | 4h | 2.6549 | −0.289% | $10K | $34K | 10x | as long as short |
| Gate MORPHO_USDT | −0.0062% | 4h | 2.6551 | −0.282% | $770K | $533K | 50x | as long as short |
| Phoenix MORPHO | −0.0060% | 1h | 2.6548 | −0.293% | $43K | $477K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6555 | −0.266% | $16 | — | 10x | as long as short |
| Aster MORPHOUSDT | +0.0053% | 4h | 2.6555 | −0.268% | $58K | $30K | 20x | as long as short |
| MEXC MORPHO_USDTshort | +0.0054% | 4h | 2.6551 | −0.282% | $5.5M | $961K | 100x | |
| Binance MORPHOUSDT | +0.0054% | 4h | 2.6548 | −0.291% | $16.1M | $26.0M | 75x | as long as short |
| Extended MORPHO-USD | +0.0056% | 1h | 2.6540 | −0.324% | $103K | $298K | 10x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6593 | −0.124% | $317K | $331K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6538 | −0.329% | $5K | $3 | 5x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6555 | −0.267% | $3.2M | $4.5M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6562 | −0.240% | $595K | $267K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6565 | −0.229% | $2.9M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6566 | −0.225% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6550 | −0.285% | $22K | $4K | 5x | as long as short |
| Hyperliquid MORPHOlong | +0.0103% | 1h | 2.6626 | long leg | $6.3M | $7.0M | 5x | |
| GMX MORPHO/USD [ETH-USDC] | L +0.0158% / S −0.3418% | 1h | 2.6582 | −0.165% | $1K | — | 100x | as long as short |
Orderly PERP_MORPHO_USDC
Gate MORPHO_USDT
Phoenix MORPHO
Reya MORPHORUSDPERP
Aster MORPHOUSDT
Binance MORPHOUSDT
Extended MORPHO-USD
Lighter MORPHO
Paradex MORPHO-USD-PERP
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]