Funding you earn now, next payment 00:00 UTC+0.0005%/8h= +0.5% APRpaid last 24h +0.029%
Price spread now: Hyperliquid against Paradex+0.322%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropParadex: Active · Hyperliquid: Season 2 · farm boardneeds both histories
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.322% dearer against Paradex than usual: you sell high and buy low, +$32 on $10k if it goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Paradex MORPHO-USD-PERP | 2.6490 | 0.0100 | pay 0.0100% / 8h | 5m 58s | $5K | $3 | 5x |
| Short | Hyperliquid MORPHO | 2.6575 | 0.0105 | get 0.0013% / 1h | 5m 58s | $6.3M | $7.0M | 5x |
Paradex MORPHO-USD-PERP
Hyperliquid MORPHOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Paradex. 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
- $1.05
- Price spread: +0.322% → 0.000%
- $32.21
- Slippage, 4 orders
- no order book: not counted
- Fee Paradex: 2 bp × 2 orders
- −$4
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $20.25
- Costs to cover
- 0.130%
- Break-even
- from the start
Slippage unknown: Paradex: no order-book sample; Hyperliquid: live order book, 6 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 Paradex no order-book sample | — | — | — | — | — |
| Sell Hyperliquid live order book, 6 min ago | 1.69 bp | 17.7 bp −$18 | doesn't fit | doesn't fit | doesn't fit |
Paradex: 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 | −0.1755% | 1h | 2.6488 | −0.007% | $81K | $143K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1069% | 1h | 2.6495 | +0.020% | $11K | $812 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0848% | 1h | 2.6443 | −0.176% | $869 | $12K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0461% | 1h | 2.6499 | +0.035% | $28K | $1.7M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0448% | 4h | 2.6519 | +0.109% | $41K | $146K | 10x | as long as short |
| Injective MORPHO/USDC PERP | −0.0405% | 1h | 2.6430 | −0.225% | $37 | $242K | 5.5x | as long as short |
| Bybit MORPHOUSDT | −0.0368% | 4h | 2.6500 | +0.039% | $8.4M | $9.3M | 25x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0360% | 1h | 2.6546 | +0.213% | $76K | $43K | 25x | as long as short |
| Variational Omni MORPHO | −0.0201% | 4h | 2.6491 | +0.007% | $630K | $1.0M | — | as long as short |
| BloFin MORPHO-USDT | −0.0184% | 4h | 2.6512 | +0.084% | $638K | $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 | −0.0145% | 4h | 2.6490 | +0.001% | $10K | $34K | 10x | as long as short |
| Gate MORPHO_USDT | −0.0070% | 4h | 2.6537 | +0.179% | $770K | $533K | 50x | as long as short |
| Phoenix MORPHO | −0.0060% | 1h | 2.6549 | +0.224% | $44K | $477K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6492 | +0.009% | $16 | — | 10x | as long as short |
| MEXC MORPHO_USDT | +0.0054% | 4h | 2.6498 | +0.031% | $5.5M | $961K | 100x | as long as short |
| Binance MORPHOUSDT | +0.0055% | 4h | 2.6502 | +0.047% | $16.0M | $26.0M | 75x | as long as short |
| Extended MORPHO-USD | +0.0056% | 1h | 2.6496 | +0.026% | $103K | $298K | 10x | as long as short |
| Aster MORPHOUSDT | +0.0066% | 4h | 2.6505 | +0.057% | $58K | $30K | 20x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6546 | +0.213% | $316K | $331K | 5x | as long as short |
| Paradex MORPHO-USD-PERPlong | +0.0100% | 8h | 2.6490 | long leg | $5K | $3 | 5x | |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6508 | +0.069% | $3.2M | $4.5M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6521 | +0.118% | $594K | $267K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6538 | +0.182% | $2.9M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6511 | +0.080% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6495 | +0.020% | $22K | $4K | 5x | as long as short |
| Hyperliquid MORPHOshort | +0.0105% | 1h | 2.6575 | +0.322% | $6.3M | $7.0M | 5x | |
| GMX MORPHO/USD [ETH-USDC] | L +0.0158% / S −0.3418% | 1h | 2.6520 | +0.115% | $1K | — | 100x | as long as short |
Orderly PERP_MORPHO_USDC
Gate MORPHO_USDT
Phoenix MORPHO
Reya MORPHORUSDPERP
MEXC MORPHO_USDT
Binance MORPHOUSDT
Extended MORPHO-USD
Aster MORPHOUSDT
Lighter MORPHO
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]