Oh dear, it is a fact of your situation that you are physically farther away, and the MIL is closer, so it it bound to happen. It doesn't mean that your daughter doesn't value your input as a grandmother any less.
It can seem unfair and yes, it can hurt, but you mustn't show that your are heartbroken or jealous of the other grandmother's time.
Try to stay in contact via video so the little one learns the sound of your voice, and try to arrange your next visit, which must be convenient to the new parents.
Congratulations on the new arrival.
A very loving relationship can be had whether or not you are distant from your new grandchild. Cherish every cuddle, and had the little one over to the next grandparent with love. Love isn't portioned out, it is shared, and grows from that sharing.