Funding you earn now, next payment 09:00 UTC−0.0067%/8h= −7.3% APRnext payment −$0.08 per $10,000 · paid last 24h −0.048%
Price spread now: Injective against SoDEX+2.252%62s7-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—needs both histories
The price spread pays, funding is against you. Injective is 2.252% dearer against SoDEX than usual: you sell high and buy low (spread +2.252% now, against zero (this spread has no 7-day history yet)): +$225 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4 months. The two prices were read 62 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 | SoDEX MORPHO-USD | 2.5848 | 0.0100 | pay 0.0013% / 1h | 47m 31s | $21K | $5K | 5x |
| Short | Injective MORPHO/USDC PERP | 2.6430 | 0.0033 | get 0.0004% / 1h | 47m 31s | $37 | $242K | 5.5x |
SoDEX MORPHO-USD
Injective MORPHO/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against SoDEX. 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
- −$14
- Price spread: +2.252% → 0.000%
- $225.16
- Slippage, 4 orders
- no order book: not counted
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $203.14
- Costs to cover
- 0.080%
- Break-even
- from the start
Slippage unknown: SoDEX: no order-book sample; Injective: no order-book sample. 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 SoDEX no order-book sample | — | — | — | — | — |
| Sell Injective no order-book sample | — | — | — | — | — |
SoDEX and 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 | −0.2465% | 1h | 2.5789 | −0.228% | $84K | $134K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1218% | 1h | 2.5850 | +0.008% | $11K | $3K | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0840% | 1h | 2.5833 | −0.058% | $849 | $9K | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0552% | 1h | 2.5689 | −0.615% | $70K | $37K | 25x | as long as short |
| Variational Omni MORPHO | −0.0439% | 4h | 2.5856 | +0.030% | $615K | $526K | — | as long as short |
| BloFin MORPHO-USDT | −0.0404% | 4h | 2.5841 | −0.027% | $630K | $239K | 20x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0304% | 4h | 2.5838 | −0.037% | $30K | $123K | 10x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0284% | 4h | 2.5849 | +0.004% | $10K | $34K | 10x | as long as short |
| Aster MORPHOUSDT | −0.0213% | 4h | 2.5848 | +0.001% | $54K | $49K | 20x | as long as short |
| Binance MORPHOUSDT | −0.0163% | 4h | 2.5851 | +0.012% | $15.5M | $23.8M | 75x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Coinbase International MORPHO-PERP-INTX
Variational Omni MORPHO
BloFin MORPHO-USDT
GRVT MORPHO_USDT_Perp
Orderly PERP_MORPHO_USDC
Aster MORPHOUSDT
Binance MORPHOUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC MORPHO_USDT | −0.0162% | 4h | 2.5855 | +0.027% | $6.3M | $911K | 100x | as long as short |
| Extended MORPHO-USD | −0.0160% | 1h | 2.5841 | −0.027% | $99K | $375K | 10x | as long as short |
| Phoenix MORPHO | −0.0155% | 1h | 2.5875 | +0.104% | $33K | $308K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.5862 | +0.054% | $16 | — | 10x | as long as short |
| Injective MORPHO/USDC PERPshort | +0.0033% | 1h | 2.6430 | +2.252% | $37 | $242K | 5.5x | |
| Lighter MORPHO | +0.0096% | 1h | 2.5910 | +0.240% | $312K | $283K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5868 | +0.076% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.5899 | +0.197% | $6.0M | $7.0M | 5x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.5865 | +0.066% | $7.8M | $8.4M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.5879 | +0.120% | $3.2M | $4.1M | 20x | as long as short |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.5860 | +0.046% | $760K | $484K | 50x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.5870 | +0.085% | $588K | $263K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5845 | −0.012% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5863 | +0.058% | — | $1.4M | — | as long as short |
| Polymarket Perps MORPHO-USD | +0.0100% | 1h | 2.5885 | +0.143% | $25K | $1.3M | 5x | as long as short |
| SoDEX MORPHO-USDlong | +0.0100% | 1h | 2.5848 | long leg | $21K | $5K | 5x | |
| GMX MORPHO/USD [ETH-USDC] | L +0.0156% / S −12.8912% | 1h | 2.5880 | +0.123% | $1K | — | 100x | as long as short |
MEXC MORPHO_USDT
Extended MORPHO-USD
Phoenix MORPHO
Reya MORPHORUSDPERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
Gate MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Polymarket Perps MORPHO-USD
GMX MORPHO/USD [ETH-USDC]