Funding you earn now, next payment 00:00 UTC−0.0307%/8h= −33.6% APRnext payment −$1.54 per $10,000 · paid last 24h −0.065%
Price spread now: Orderly against Aster−0.050%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Orderly is 0.050% cheaper against Aster than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Aster MORPHOUSDT | 2.6929 | 0.0100 | pay 0.0050% / 4h | 3h 05m | $59K | $33K | 20x |
| Short | Orderly PERP_MORPHO_USDC | 2.6916 | −0.0207 | pay 0.0104% / 4h | 3h 05m | $10K | $34K | 10x |
Aster MORPHOUSDT
Orderly PERP_MORPHO_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly against Aster. 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
- −$64.5
- Price spread: −0.050% → 0.000%
- −$4.98
- Slippage, 4 orders
- no order book: not counted
- Fee Aster: 4 bp × 2 orders
- −$8
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$83.48
- Costs to cover
- 0.140%
- Break-even
- never at this rate
Slippage unknown: Aster: no order-book sample; Orderly: 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 Aster no order-book sample | — | — | — | — | — |
| Sell Orderly no order-book sample | — | — | — | — | — |
Aster and Orderly: 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 | −0.1760% | 1h | 2.6870 | −0.220% | $84K | $152K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1197% | 1h | 2.6919 | −0.039% | $11K | $623 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0816% | 1h | 2.6889 | −0.150% | $884 | $12K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0506% | 4h | 2.6838 | −0.339% | $41K | $151K | 10x | as long as short |
| Injective MORPHO/USDC PERP | −0.0425% | 1h | 2.7020 | +0.336% | $38 | $123K | 5.5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0301% | 1h | 2.6924 | −0.020% | $25K | $2.0M | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0240% | 1h | 2.6893 | −0.135% | $78K | $47K | 25x | as long as short |
| Orderly PERP_MORPHO_USDCshort | −0.0207% | 4h | 2.6916 | −0.050% | $10K | $34K | 10x | |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6897 | −0.120% | $656K | $207K | 20x | as long as short |
| Gate MORPHO_USDT | −0.0014% | 4h | 2.6924 | −0.020% | $769K | $538K | 50x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Injective MORPHO/USDC PERP
Polymarket Perps MORPHO-USD
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Gate MORPHO_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6928 | −0.004% | $16 | — | 10x | as long as short |
| Bybit MORPHOUSDT | −0.0003% | 4h | 2.6930 | +0.002% | $8.9M | $10.2M | 25x | as long as short |
| Phoenix MORPHO | +0.0059% | 1h | 2.6892 | −0.139% | $35K | $471K | 5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6948 | +0.068% | $321K | $357K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6911 | −0.070% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6958 | +0.106% | $6.4M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDTlong | +0.0100% | 4h | 2.6929 | long leg | $59K | $33K | 20x | |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6896 | −0.123% | $16.5M | $26.9M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6937 | +0.028% | $3.2M | $4.6M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6906 | −0.087% | $5.3M | $1.1M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6925 | −0.016% | $606K | $270K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6929 | −0.002% | $3.0M | $2.0M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6915 | −0.054% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6901 | −0.107% | $652K | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6915 | −0.054% | $23K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6908 | −0.079% | $104K | $305K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0193% / S −16.5420% | 1h | 2.6948 | +0.068% | $1K | — | 100x | as long as short |
Reya MORPHORUSDPERP
Bybit MORPHOUSDT
Phoenix MORPHO
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Binance MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]