MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0071%/8h= +7.7% APRnext payment +$0.09 per $10,000 · paid last 24h +0.046%

Price spread now: Extended against Injective−1.227%100s7-day average −1.073% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.966%−$97 on $10k

Price spread, last 4 days (all we have)+0.091%+$9 · spread now −1.227%, 7d avg −1.073%

Together, before fees−0.876%+ Points / potential airdropExtended: Active · farm board−$88 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.154% cheaper against Injective than usual: you would sell low and buy high (spread −1.227% now, against its 7-day average of −1.073%). If the spread goes back, that is −$15 on $10k: about 7.3 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.966%, so the current rate has only just turned in your favour. The two prices were read 100 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	Injective MORPHO/USDC PERP	2.6430	0.0033	pay 0.0004% / 1h	39m 23s	$37	$242K	5.5x
Short	Extended MORPHO-USD	2.6106	0.0104	get 0.0013% / 1h	39m 23s	$101K	$350K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee InjectivebpFee ExtendedbpOrdersPrice spread, now −1.227%Rate

Funding earned: $14.84
Price spread: −1.227% → −1.073%: −$15.4
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$5.58
Costs to cover: 0.050%
Break-even: 9.6 days

Slippage unknown: Injective: no order-book sample; Extended: live order book, 23 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 Injective no order-book sample	—	—	—	—	—
Sell Extended live order book, 23 min ago	3.05 bp	22.6 bp −$23	202.6 bp −$2,026	doesn't fit	doesn't fit

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
Kraken Futures PF_MORPHOUSD	−0.1677%	1h	2.6146	−1.074%	$81K	$128K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1087%	1h	2.6140	−1.097%	$11K	$955	10x	as long as short
01 Exchange MORPHOUSD	−0.0544%	1h	2.6098	−1.256%	$858	$9K	5x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6143	−1.086%	$639K	$243K	20x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0192%	1h	2.6327	−0.390%	$75K	$42K	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0157%	4h	2.6143	−1.086%	$10K	$34K	10x	as long as short
GRVT MORPHO_USDT_Perp	−0.0114%	4h	2.6163	−1.010%	$32K	$142K	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0096%	1h	2.6146	−1.075%	$25K	$1.8M	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6140	−1.097%	$16	—	10x	as long as short
Phoenix MORPHO	0.0000%	1h	2.6187	−0.919%	$43K	$392K	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective MORPHO/USDC PERPlong	+0.0033%	1h	2.6430	long leg	$37	$242K	5.5x
Gate MORPHO_USDT	+0.0042%	4h	2.6161	−1.018%	$754K	$503K	50x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6164	−1.005%	$313K	$308K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6122	−1.166%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6195	−0.889%	$6.1M	$6.9M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6156	−1.035%	$57K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6133	−1.124%	$15.8M	$25.7M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6150	−1.059%	$8.3M	$9.4M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6166	−0.999%	$3.2M	$4.3M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6134	−1.120%	$5.8M	$840K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6154	−1.044%	$595K	$252K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6176	−0.961%	$2.8M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6146	−1.075%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6155	−1.041%	$624K	$907K	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6141	−1.093%	$21K	$4K	5x	as long as short
Extended MORPHO-USDshort	+0.0104%	1h	2.6106	−1.227%	$101K	$350K	10x
GMX MORPHO/USD [ETH-USDC]	L +0.0186% / S −15.6829%	1h	2.6144	−1.083%	$1K	—	100x	as long as short