Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0170%/8h= −18.6% APRpaid last 24h −0.078%

Price spread now: Polymarket Perps against Binance+0.069%7-day average +0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$510.508% of the position

Long on Binance Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.235%−$23 on $10k

Price spread, last 7 days−0.040%−$4 · spread now +0.069%, 7d avg +0.041%

Together, before fees−0.275%−$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.028% dearer against Binance than usual: you sell high and buy low (spread +0.069% now, against its 7-day average of +0.041%): +$3 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 13 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MORPHOUSDT	2.6122	0.0100	pay 0.0050% / 4h	1h 45m	$15.7M	$25.7M	75x
Short	Polymarket Perps MORPHO-USD	2.6140	−0.0070	pay 0.0009% / 1h	45m 16s	$25K	$1.8M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.069%Rate

Funding earned: −$35.75
Price spread: +0.069% → +0.041%: $2.77
Slippage, 4 orders: −$32.82
Fee Binance: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$83.81
Costs to cover: 0.508%
Break-even: never at this rate

Slippage from Binance: live order book, 11 min ago; Polymarket Perps: live order book, 3 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	1.14 bp	16.4 bp −$16	43.0 bp −$430	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	2.30 bp	6.7 bp −$7	6.8 bp −$68	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	−0.1678%	1h	2.6117	−0.020%	$81K	$128K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1126%	1h	2.6130	+0.031%	$11K	$955	10x	as long as short
01 Exchange MORPHOUSD	−0.0528%	1h	2.6089	−0.126%	$857	$9K	5x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6128	+0.023%	$638K	$242K	20x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0192%	1h	2.6327	+0.785%	$75K	$42K	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0157%	4h	2.6125	+0.011%	$10K	$34K	10x	as long as short
GRVT MORPHO_USDT_Perp	−0.0120%	4h	2.6077	−0.172%	$32K	$142K	10x	as long as short
Polymarket Perps MORPHO-USDshort	−0.0070%	1h	2.6140	+0.069%	$25K	$1.8M	5x
Reya MORPHORUSDPERP	−0.0004%	1h	2.6136	+0.055%	$16	—	10x	as long as short
Phoenix MORPHO	0.0000%	1h	2.6097	−0.096%	$43K	$392K	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+1.179%	$37	$242K	5.5x	as long as short
Gate MORPHO_USDT	+0.0038%	4h	2.6087	−0.134%	$752K	$503K	50x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6124	+0.009%	$313K	$308K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6113	−0.036%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6179	+0.218%	$6.1M	$7.0M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6128	+0.023%	$57K	$30K	20x	as long as short
Binance MORPHOUSDTlong	+0.0100%	4h	2.6122	long leg	$15.7M	$25.7M	75x
Bybit MORPHOUSDT	+0.0100%	4h	2.6142	+0.077%	$8.3M	$9.4M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6159	+0.142%	$3.2M	$4.3M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6123	+0.004%	$5.8M	$839K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6130	+0.031%	$595K	$254K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6140	+0.069%	$2.8M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6124	+0.008%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6105	−0.063%	$622K	$907K	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6134	+0.046%	$21K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6119	−0.011%	$101K	$350K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0186% / S −15.6829%	1h	2.6152	+0.115%	$1K	—	100x	as long as short