Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.001%
Price spread now: Extended against Binance+0.006%7-day average −0.017% · you sell dearer than you buy
Net, funding: paid 7d − costs−$78as in the Funding arb table
Net, price: spread back to 7d avg − costs−$77as in the Price arb table
costs, in and out, $10k−$790.788% of the position
Funding, last 7 days+0.007%+$1 on $10k
+Price spread, last 7 days−0.093%−$9 · spread now +0.006%, 7d avg −0.017%
=Together, before fees−0.086%+ Points / potential airdropExtended: Active · farm board−$9 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.023% dearer against Binance than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.017%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance MORPHOUSDT | 2.6598 | 0.0100 | pay 0.0050% / 4h | 2h 17m | $16.3M | $26.8M | 75x |
| Short | Extended MORPHO-USD | 2.6599 | 0.0104 | get 0.0013% / 1h | 17m 33s | $103K | $301K | 10x |
Binance MORPHOUSDT
Extended MORPHO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended 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
- $0.84
- Price spread: +0.006% → −0.017%
- $2.28
- Slippage, 4 orders
- −$63.84
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$75.73
- Costs to cover
- 0.788%
- Break-even
- 638.0 days
Slippage from Binance: live order book, 9 min ago; Extended: live order book, 5 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, 9 min ago | 0.19 bp | 16.2 bp −$16 | 40.7 bp −$407 | doesn't fit | doesn't fit |
| Sell Extended live order book, 5 min ago | 2.07 bp | 23.0 bp −$23 | 221.4 bp −$2,214 | 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 | −0.2050% | 1h | 2.6587 | −0.040% | $83K | $148K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1400% | 1h | 2.6625 | +0.103% | $11K | $911 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0840% | 1h | 2.6566 | −0.119% | $873 | $12K | 5x | as long as short |
| Injective MORPHO/USDC PERP | −0.0385% | 1h | 2.6610 | +0.046% | $37 | $198K | 5.5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0383% | 1h | 2.6621 | +0.088% | $26K | $1.8M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0334% | 4h | 2.6613 | +0.057% | $30K | $154K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0296% | 1h | 2.6617 | +0.073% | $77K | $46K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6620 | +0.084% | $645K | $223K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0170% | 4h | 2.6619 | +0.080% | $10K | $34K | 10x | as long as short |
| Gate MORPHO_USDT | −0.0080% | 4h | 2.6619 | +0.080% | $763K | $523K | 50x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Injective MORPHO/USDC PERP
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDC
Gate MORPHO_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit MORPHOUSDT | −0.0077% | 4h | 2.6620 | +0.084% | $8.6M | $10.0M | 25x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6655 | +0.216% | $34K | $493K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6626 | +0.108% | $16 | — | 10x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6651 | +0.199% | $317K | $336K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6616 | +0.068% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6662 | +0.242% | $6.3M | $7.2M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6617 | +0.072% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDTlong | +0.0100% | 4h | 2.6598 | long leg | $16.3M | $26.8M | 75x | |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6620 | +0.084% | $3.2M | $4.5M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6595 | −0.010% | $5.5M | $1.2M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6647 | +0.185% | $624K | $271K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6612 | +0.054% | $2.9M | $2.0M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6634 | +0.137% | — | $1.5M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6639 | +0.154% | $647K | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6617 | +0.073% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USDshort | +0.0104% | 1h | 2.6599 | +0.006% | $103K | $301K | 10x | |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6647 | +0.184% | $1K | — | 100x | as long as short |
Bybit MORPHOUSDT
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
GMX MORPHO/USD [ETH-USDC]