MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0287%/8h= −31.4% APRnext payment −$1.43 per $10,000 · paid last 24h −0.060%

Price spread now: BloFin against BingX−0.072%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$650.652% of the position

Long on BingX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.384%+$38 on $10k

Price spread, last 3 days (all we have)−0.022%−$2 · spread now −0.072%, 7d avg −0.016%

Together, before fees+0.362%+$36 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and BloFin is 0.056% cheaper against BingX than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.016%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.384%, 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	BingX MORPHO-USDT	2.6511	0.0100	pay 0.0050% / 4h	10m 41s	—	$1.4M	—
Short	BloFin MORPHO-USDT	2.6492	−0.0187	pay 0.0093% / 4h	10m 41s	$638K	$253K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against BingX. 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 BingXbpFee BloFinbpOrdersPrice spread, now −0.072%Rate

Funding earned: −$60.22
Price spread: −0.072% → −0.016%: −$5.56
Slippage, 4 orders: −$43.15
Fee BingX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$130.93
Costs to cover: 0.652%
Break-even: never at this rate

Slippage from BingX: live order book, 6 min ago; BloFin: live order book, 66 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 BingX live order book, 6 min ago	2.45 bp	15.5 bp −$16	30.7 bp −$307	335.8 bp −$33.6K	649.3 bp −$324.6K
Sell BloFin live order book, 66 min ago	2.84 bp	18.6 bp −$19	34.3 bp −$343	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	−0.1756%	1h	2.6477	−0.128%	$81K	$143K	20x	as long as short
01 Exchange MORPHOUSD	−0.0840%	1h	2.6475	−0.136%	$870	$12K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0655%	1h	2.6500	−0.041%	$11K	$812	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0461%	1h	2.6497	−0.053%	$28K	$1.7M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0460%	4h	2.6511	−0.001%	$41K	$146K	10x	as long as short
Injective MORPHO/USDC PERP	−0.0405%	1h	2.6430	−0.306%	$37	$242K	5.5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0360%	1h	2.6555	+0.166%	$76K	$43K	25x	as long as short
Bybit MORPHOUSDT	−0.0335%	4h	2.6510	−0.004%	$8.4M	$9.3M	25x	as long as short
BloFin MORPHO-USDTshort	−0.0187%	4h	2.6492	−0.072%	$638K	$253K	20x
Variational Omni MORPHO	−0.0167%	4h	2.6481	−0.113%	$630K	$1.0M	—	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	−0.0147%	4h	2.6491	−0.075%	$10K	$34K	10x	as long as short
Phoenix MORPHO	−0.0060%	1h	2.6531	+0.075%	$43K	$477K	5x	as long as short
Gate MORPHO_USDT	−0.0056%	4h	2.6514	+0.011%	$770K	$532K	50x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6489	−0.083%	$16	—	10x	as long as short
MEXC MORPHO_USDT	+0.0052%	4h	2.6511	0.000%	$5.5M	$961K	100x	as long as short
Binance MORPHOUSDT	+0.0053%	4h	2.6506	−0.019%	$16.1M	$26.0M	75x	as long as short
Extended MORPHO-USD	+0.0056%	1h	2.6503	−0.031%	$103K	$298K	10x	as long as short
Aster MORPHOUSDT	+0.0082%	4h	2.6505	−0.024%	$58K	$30K	20x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6552	+0.154%	$316K	$331K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6506	−0.019%	$5K	$3	5x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6516	+0.019%	$3.2M	$4.5M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6529	+0.068%	$594K	$268K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6523	+0.045%	$2.9M	$1.8M	75x	as long as short
BingX MORPHO-USDTlong	+0.0100%	4h	2.6511	long leg	—	$1.4M	—
SoDEX MORPHO-USD	+0.0100%	1h	2.6485	−0.098%	$22K	$4K	5x	as long as short
Hyperliquid MORPHO	+0.0110%	1h	2.6573	+0.234%	$6.3M	$7.0M	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0158% / S −0.3418%	1h	2.6519	+0.031%	$1K	—	100x	as long as short