Funding you earn now, next payment 00:00 UTC−0.0300%/8h= −32.9% APRnext payment −$1.50 per $10,000 · paid last 24h −0.060%
Price spread now: BloFin against Binance+0.099%7-day average +0.016% · you sell dearer than you buy
Net, funding: paid 7d − costs−$25as in the Funding arb table
Net, price: spread back to 7d avg − costs−$57as in the Price arb table
costs, in and out, $10k−$650.652% of the position
Funding, last 7 days+0.401%+$40 on $10k
+Price spread, last 3 days (all we have)−0.157%−$16 · spread now +0.099%, 7d avg +0.016%
=The price spread pays, funding is against you. BloFin is 0.083% dearer against Binance than usual: you sell high and buy low (spread +0.099% now, against its 7-day average of +0.016%): +$8 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 22 hours. Mind the row above: over the last 7 days funding on this pair paid +0.401%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance MORPHOUSDT | 2.6567 | 0.0100 | pay 0.0050% / 4h | 2h 15m | $16.3M | $26.7M | 75x |
| Short | BloFin MORPHO-USDT | 2.6593 | −0.0200 | pay 0.0100% / 4h | 2h 15m | $645K | $223K | 20x |
Binance MORPHOUSDT
BloFin MORPHO-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Binance. 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
- −$63
- Price spread: +0.099% → +0.016%
- $8.26
- Slippage, 4 orders
- −$43.24
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$119.98
- Costs to cover
- 0.652%
- Break-even
- never at this rate
Slippage from Binance: live order book, 11 min ago; BloFin: live order book, 6 min ago.
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 Binance live order book, 11 min ago | 0.19 bp | 16.2 bp −$16 | 40.7 bp −$407 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 6 min ago | 0.56 bp | 17.4 bp −$17 | 35.7 bp −$357 | doesn't fit | doesn't fit |
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 | −0.2052% | 1h | 2.6559 | −0.028% | $83K | $148K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1253% | 1h | 2.6570 | +0.012% | $11K | $911 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0848% | 1h | 2.6526 | −0.153% | $872 | $12K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0392% | 1h | 2.6572 | +0.020% | $26K | $1.8M | 5x | as long as short |
| Injective MORPHO/USDC PERP | −0.0385% | 1h | 2.6610 | +0.163% | $37 | $198K | 5.5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0344% | 4h | 2.6601 | +0.129% | $30K | $154K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0296% | 1h | 2.6617 | +0.189% | $77K | $46K | 25x | as long as short |
| BloFin MORPHO-USDTshort | −0.0200% | 4h | 2.6593 | +0.099% | $645K | $223K | 20x | |
| Orderly PERP_MORPHO_USDC | −0.0171% | 4h | 2.6574 | +0.027% | $10K | $34K | 10x | as long as short |
| Bybit MORPHOUSDT | −0.0138% | 4h | 2.6586 | +0.073% | $8.6M | $9.9M | 25x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
Injective MORPHO/USDC PERP
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
Orderly PERP_MORPHO_USDC
Bybit MORPHOUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | −0.0096% | 4h | 2.6591 | +0.091% | $774K | $547K | 50x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6639 | +0.272% | $34K | $493K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6578 | +0.041% | $16 | — | 10x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6621 | +0.204% | $317K | $336K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6561 | −0.021% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6633 | +0.249% | $6.3M | $7.2M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6584 | +0.067% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDTlong | +0.0100% | 4h | 2.6567 | long leg | $16.3M | $26.7M | 75x | |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6575 | +0.031% | $3.2M | $4.5M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6568 | +0.005% | $5.5M | $1.2M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6600 | +0.125% | $623K | $269K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6577 | +0.039% | $2.9M | $1.9M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6606 | +0.148% | — | $1.5M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6594 | +0.102% | $647K | $1.2M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6574 | +0.027% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6567 | +0.001% | $103K | $301K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6603 | +0.138% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Phoenix MORPHO
Reya MORPHORUSDPERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster 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]