Funding you earn now, next payment 04:00 UTC−0.0248%/8h= −27.2% APRnext payment −$1.24 per $10,000 · paid last 24h −0.063%
Price spread now: Orderly against Binance−0.030%59s7-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
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Orderly is 0.030% cheaper against Binance than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance MORPHOUSDT | 2.6231 | 0.0100 | pay 0.0050% / 4h | 2h 33m | $15.8M | $25.3M | 75x |
| Short | Orderly PERP_MORPHO_USDC | 2.6223 | −0.0148 | pay 0.0074% / 4h | 2h 33m | $10K | $34K | 10x |
Binance MORPHOUSDT
Orderly PERP_MORPHO_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$52.17
- Price spread: −0.030% → 0.000%
- −$3.05
- Slippage, 4 orders
- no order book: not counted
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$71.22
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Binance: live order book, 8 min ago; 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 Binance live order book, 8 min ago | 0.76 bp | 15.7 bp −$16 | 40.2 bp −$402 | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
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 26 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 | −0.1915% | 1h | 2.6162 | −0.262% | $80K | $128K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.0536% | 1h | 2.6229 | −0.008% | $862 | $11K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0512% | 1h | 2.6232 | +0.004% | $11K | $785 | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0232% | 1h | 2.6220 | −0.042% | $75K | $42K | 25x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0148% | 1h | 2.6236 | +0.019% | $25K | $1.8M | 5x | as long as short |
| Orderly PERP_MORPHO_USDCshort | −0.0148% | 4h | 2.6223 | −0.030% | $10K | $34K | 10x | |
| GRVT MORPHO_USDT_Perp | −0.0072% | 4h | 2.6212 | −0.074% | $32K | $142K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6244 | +0.051% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | +0.0030% | 1h | 2.6271 | +0.152% | $43K | $426K | 5x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +0.759% | $37 | $242K | 5.5x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
Coinbase International MORPHO-PERP-INTX
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Reya MORPHORUSDPERP
Phoenix MORPHO
Injective MORPHO/USDC PERPShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | +0.0046% | 4h | 2.6264 | +0.126% | $767K | $504K | 50x | as long as short |
| Variational Omni MORPHO | +0.0070% | 4h | 2.6236 | +0.019% | $624K | $920K | — | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6284 | +0.202% | $315K | $319K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6258 | +0.102% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6282 | +0.194% | $6.2M | $7.0M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6245 | +0.054% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDTlong | +0.0100% | 4h | 2.6231 | long leg | $15.8M | $25.3M | 75x | |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6250 | +0.072% | $8.3M | $9.3M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6256 | +0.095% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6229 | −0.008% | $5.5M | $885K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6250 | +0.072% | $596K | $255K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6249 | +0.069% | $2.9M | $1.7M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6246 | +0.057% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6234 | +0.011% | $22K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6236 | +0.018% | $101K | $360K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6250 | +0.073% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Variational Omni MORPHO
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]