Funding you earn now, next payment 08:00 UTC−0.0520%/8h= −56.9% APRnext payment −$0.65 per $10,000 · paid last 24h −0.122%
Price spread now: Polymarket Perps against Hyperliquid−0.049%7-day average −0.116% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.299%−$30 on $10k
+Price spread, last 7 days−0.049%−$5 · spread now −0.049%, 7d avg −0.116%
=Together, before fees−0.348%+ Points / potential airdropHyperliquid: Season 2 · farm board−$35 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Polymarket Perps is 0.067% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.049% now, against its 7-day average of −0.116%): +$7 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 10 hours. At the pace of the last 7 days (−0.299% in total) that is about 38 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.299% in total (about -15.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.65 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid MORPHO | 2.5931 | 0.0100 | pay 0.0013% / 1h | 53m 04s | $5.9M | $7.0M | 5x |
| Short | Polymarket Perps MORPHO-USD | 2.5918 | −0.0420 | pay 0.0052% / 1h | 53m 04s | $27K | $1.4M | 5x |
Hyperliquid MORPHO
Polymarket Perps MORPHO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket Perps 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
- −$109.18
- Price spread: −0.049% → −0.116%
- $6.69
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$119.49
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 9 min ago; Polymarket Perps: live order book, 5 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 Hyperliquid live order book, 9 min ago | 0.19 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
| Sell Polymarket Perps live order book, 5 min ago | 2.12 bp | 8.9 bp −$9 | 9.6 bp −$96 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit MORPHO_USDC-PERPETUAL | −0.1717% | 1h | 2.5875 | −0.214% | $11K | $2K | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.1488% | 1h | 2.5831 | −0.384% | $849 | $9K | 5x | as long as short |
| Kraken Futures PF_MORPHOUSD | −0.1233% | 1h | 2.5875 | −0.215% | $84K | $134K | 20x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0568% | 4h | 2.5889 | −0.160% | $30K | $134K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0496% | 1h | 2.5918 | −0.049% | $72K | $38K | 25x | as long as short |
| Bybit MORPHOUSDT | −0.0433% | 4h | 2.5907 | −0.091% | $7.9M | $8.6M | 25x | as long as short |
| Polymarket Perps MORPHO-USDshort | −0.0420% | 1h | 2.5918 | −0.049% | $27K | $1.4M | 5x | |
| BloFin MORPHO-USDT | −0.0232% | 4h | 2.5901 | −0.114% | $638K | $240K | 20x | as long as short |
| Variational Omni MORPHO | −0.0212% | 4h | 2.5850 | −0.310% | $616K | $677K | — | as long as short |
| Phoenix MORPHO | −0.0185% | 1h | 2.5900 | −0.118% | $33K | $336K | 5x | as long as short |
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Kraken Futures PF_MORPHOUSD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
Bybit MORPHOUSDT
BloFin MORPHO-USDT
Variational Omni MORPHO
Phoenix MORPHOShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_MORPHO_USDC | −0.0171% | 4h | 2.5891 | −0.153% | $10K | $34K | 10x | as long as short |
| Gate MORPHO_USDT | −0.0044% | 4h | 2.5895 | −0.137% | $759K | $501K | 50x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.5904 | −0.104% | $16 | — | 10x | as long as short |
| MEXC MORPHO_USDT | +0.0006% | 4h | 2.5874 | −0.218% | $6.3M | $902K | 100x | as long as short |
| Binance MORPHOUSDT | +0.0008% | 4h | 2.5872 | −0.225% | $15.6M | $24.6M | 75x | as long as short |
| Extended MORPHO-USD | +0.0008% | 1h | 2.5880 | −0.197% | $99K | $345K | 10x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +1.926% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.5920 | −0.041% | $312K | $287K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5923 | −0.031% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHOlong | +0.0100% | 1h | 2.5931 | long leg | $5.9M | $7.0M | 5x | |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.5880 | −0.194% | $58K | $44K | 20x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.5890 | −0.157% | $3.2M | $4.2M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.5934 | +0.013% | $590K | $261K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5904 | −0.103% | $2.8M | $1.7M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5889 | −0.160% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.5886 | −0.172% | $21K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.5921 | −0.036% | $1K | — | 100x | as long as short |
Orderly PERP_MORPHO_USDC
Gate MORPHO_USDT
Reya MORPHORUSDPERP
MEXC MORPHO_USDT
Binance MORPHOUSDT
Extended MORPHO-USD
Injective MORPHO/USDC PERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Aster MORPHOUSDT
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]