MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0485%/8h= +53.1% APRnext payment +$0.61 per $10,000 · paid last 24h +0.058%

Price spread now: Hyperliquid against Injective+0.299%53s7-day average −0.969% · you sell dearer than you buy

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

Long on Injective Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−1.124%−$112 on $10k

Price spread, last 3 days (all we have)−1.238%−$124 · spread now +0.299%, 7d avg −0.969%

Together, before fees−2.362%+ Points / potential airdropHyperliquid: Season 2 · farm board−$236 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Hyperliquid is 1.267% dearer against Injective than usual: you sell high and buy low: +$127 more if the spread goes back to its 7-day average of −0.969%. Mind the row above: over the last 7 days funding on this pair cost −1.124%, so the current rate has only just turned in your favour. The two prices were read 53 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	2.6460	−0.0385	get 0.0048% / 1h	38m 21s	$37	$161K	5.5x
Short	Hyperliquid MORPHO	2.6539	0.0100	get 0.0013% / 1h	38m 21s	$6.2M	$7.2M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.299%Rate

Funding earned: $101.78
Price spread: +0.299% → −0.969%: $126.71
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $219.47
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Hyperliquid: live order book, 4 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 Hyperliquid live order book, 4 min ago	0.94 bp	14.5 bp −$14	doesn't fit	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	−0.2063%	1h	2.6429	−0.118%	$82K	$148K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1108%	1h	2.6468	+0.030%	$11K	$911	10x	as long as short
01 Exchange MORPHOUSD	−0.1008%	1h	2.6470	+0.038%	$870	$12K	5x	as long as short
Polymarket Perps MORPHO-USD	−0.0543%	1h	2.6492	+0.121%	$26K	$1.9M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0500%	4h	2.6504	+0.165%	$29K	$154K	10x	as long as short
Injective MORPHO/USDC PERPlong	−0.0385%	1h	2.6460	long leg	$37	$161K	5.5x
Bybit MORPHOUSDT	−0.0315%	4h	2.6510	+0.189%	$8.6M	$10.1M	25x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0296%	1h	2.6527	+0.253%	$76K	$46K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6462	+0.008%	$648K	$221K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0183%	4h	2.6490	+0.113%	$10K	$34K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MORPHO_USDT	−0.0176%	4h	2.6469	+0.034%	$759K	$523K	50x	as long as short
Phoenix MORPHO	−0.0030%	1h	2.6516	+0.212%	$34K	$493K	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6496	+0.135%	$16	—	10x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6555	+0.357%	$316K	$336K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6462	+0.006%	$5K	$3	5x	as long as short
Hyperliquid MORPHOshort	+0.0100%	1h	2.6539	+0.299%	$6.2M	$7.2M	5x
Aster MORPHOUSDT	+0.0100%	4h	2.6496	+0.136%	$58K	$33K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6487	+0.102%	$16.2M	$26.9M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6513	+0.200%	$3.2M	$4.5M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6484	+0.091%	$5.3M	$1.2M	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6499	+0.147%	$621K	$271K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6490	+0.113%	$2.9M	$2.0M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6493	+0.125%	—	$1.5M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6500	+0.152%	$644K	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6456	−0.015%	$22K	$3K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6477	+0.066%	$103K	$301K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0188% / S −12.8197%	1h	2.6521	+0.232%	$1K	—	100x	as long as short