MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0320%/8h= −35.0% APRnext payment −$1.60 per $10,000 · paid last 24h −0.030%

Price spread now: Bybit against Binance−0.046%7-day average +0.089% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$550.554% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.048%−$5 on $10k

Price spread, last 7 days+0.165%+$17 · spread now −0.046%, 7d avg +0.089%

Together, before fees+0.117%+$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Bybit is 0.135% cheaper against Binance than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of +0.089%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.048% in total (about -2.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.60 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MORPHOUSDT	2.6428	0.0078	pay 0.0039% / 4h	3h 49m	$16.0M	$26.0M	75x
Short	Bybit MORPHOUSDT	2.6416	−0.0242	pay 0.0121% / 4h	3h 49m	$8.3M	$9.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Binance. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BinancebpFee BybitbpOrdersPrice spread, now −0.046%Rate

Funding earned: −$67.11
Price spread: −0.046% → +0.089%: −$13.51
Slippage, 4 orders: −$34.39
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$136.02
Costs to cover: 0.554%
Break-even: never at this rate

Slippage from Binance: live order book, 7 min ago; Bybit: live order book, 4 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, 7 min ago	0.38 bp	9.5 bp −$9	25.5 bp −$255	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	3.78 bp	14.8 bp −$15	68.8 bp −$688	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	−0.1840%	1h	2.6412	−0.062%	$80K	$133K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0619%	1h	2.6447	+0.071%	$11K	$788	10x	as long as short
01 Exchange MORPHOUSD	−0.0552%	1h	2.6429	+0.003%	$868	$13K	5x	as long as short
Gate MORPHO_USDT	−0.0296%	4h	2.6443	+0.056%	$765K	$516K	50x	as long as short
Polymarket Perps MORPHO-USD	−0.0292%	1h	2.6424	−0.016%	$28K	$1.7M	5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0280%	1h	2.6507	+0.298%	$76K	$43K	25x	as long as short
GRVT MORPHO_USDT_Perp	−0.0264%	4h	2.6458	+0.111%	$41K	$133K	10x	as long as short
Bybit MORPHOUSDTshort	−0.0242%	4h	2.6416	−0.046%	$8.3M	$9.3M	25x
Variational Omni MORPHO	−0.0236%	4h	2.6461	+0.124%	$630K	$1.0M	—	as long as short
BloFin MORPHO-USDT	−0.0194%	4h	2.6465	+0.139%	$637K	$228K	20x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_MORPHO_USDC	−0.0143%	4h	2.6441	+0.048%	$10K	$34K	10x	as long as short
Phoenix MORPHO	−0.0030%	1h	2.6497	+0.260%	$43K	$474K	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6423	−0.021%	$16	—	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+0.007%	$37	$242K	5.5x	as long as short
Extended MORPHO-USD	+0.0072%	1h	2.6439	+0.040%	$101K	$345K	10x	as long as short
MEXC MORPHO_USDT	+0.0072%	4h	2.6431	+0.011%	$5.5M	$901K	100x	as long as short
Binance MORPHOUSDTlong	+0.0078%	4h	2.6428	long leg	$16.0M	$26.0M	75x
Aster MORPHOUSDT	+0.0093%	4h	2.6455	+0.101%	$58K	$30K	20x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6516	+0.332%	$316K	$324K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6427	−0.003%	$5K	$3	5x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6423	−0.020%	$3.2M	$4.5M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6446	+0.067%	$592K	$266K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6445	+0.064%	$2.9M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6438	+0.037%	—	$1.5M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6458	+0.113%	$22K	$4K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0158% / S −0.3418%	1h	2.6446	+0.069%	$1K	—	100x	as long as short
Hyperliquid MORPHO	+0.0226%	1h	2.6489	+0.230%	$6.2M	$7.0M	5x	as long as short