Funding you earn now, next payment 00:00 UTC−0.0148%/8h= −16.2% APRnext payment −$0.74 per $10,000 · paid last 24h −0.009%
Price spread now: Bybit against BingX−0.041%7-day average +0.051% · you buy dearer than you sell
Net, funding: paid 7d − costs−$87as in the Funding arb table
Net, price: spread back to 7d avg − costs−$92as in the Price arb table
costs, in and out, $10k−$820.825% of the position
Funding, last 7 days−0.042%−$4 on $10k
+Price spread, last 7 days+0.120%+$12 · spread now −0.041%, 7d avg +0.051%
=Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bybit is 0.092% cheaper against BingX than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.051%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BingX MORPHO-USDT | 2.6641 | 0.0100 | pay 0.0050% / 4h | 2h 18m | — | $1.5M | — |
| Short | Bybit MORPHOUSDT | 2.6630 | −0.0048 | pay 0.0024% / 4h | 2h 18m | $8.7M | $10.0M | 25x |
BingX MORPHO-USDT
Bybit MORPHOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against BingX. 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
- −$31.1
- Price spread: −0.041% → +0.051%
- −$9.25
- Slippage, 4 orders
- −$61.49
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$122.84
- Costs to cover
- 0.825%
- Break-even
- never at this rate
Slippage from BingX: live order book, 9 min ago; Bybit: 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 BingX live order book, 9 min ago | 2.63 bp | 15.9 bp −$16 | 36.3 bp −$363 | 352.8 bp −$35.3K | 676.2 bp −$338.1K |
| Sell Bybit live order book, 5 min ago | 3.76 bp | 26.1 bp −$26 | 91.2 bp −$912 | 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 | −0.203% | $83K | $148K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1400% | 1h | 2.6625 | −0.060% | $11K | $911 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0840% | 1h | 2.6585 | −0.210% | $874 | $12K | 5x | as long as short |
| Injective MORPHO/USDC PERP | −0.0385% | 1h | 2.6610 | −0.116% | $37 | $198K | 5.5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0383% | 1h | 2.6621 | −0.075% | $26K | $1.8M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0350% | 4h | 2.6583 | −0.219% | $30K | $154K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0296% | 1h | 2.6617 | −0.090% | $77K | $46K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6620 | −0.079% | $645K | $223K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0170% | 4h | 2.6619 | −0.083% | $10K | $34K | 10x | as long as short |
| Gate MORPHO_USDT | −0.0070% | 4h | 2.6622 | −0.071% | $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 MORPHOUSDTshort | −0.0048% | 4h | 2.6630 | −0.041% | $8.7M | $10.0M | 25x | |
| Phoenix MORPHO | −0.0030% | 1h | 2.6655 | +0.053% | $34K | $493K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6626 | −0.055% | $16 | — | 10x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6659 | +0.069% | $318K | $336K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6614 | −0.100% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6674 | +0.124% | $6.3M | $7.2M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6632 | −0.033% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6610 | −0.115% | $16.3M | $26.8M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6636 | −0.019% | $3.2M | $4.5M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6617 | −0.090% | $5.5M | $1.2M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6647 | +0.023% | $624K | $271K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6625 | −0.060% | $2.9M | $2.0M | 75x | as long as short |
| BingX MORPHO-USDTlong | +0.0100% | 4h | 2.6641 | long leg | — | $1.5M | — | |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6639 | −0.009% | $647K | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6617 | −0.090% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6607 | −0.127% | $103K | $301K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6647 | +0.022% | $1K | — | 100x | as long as short |
Phoenix MORPHO
Reya MORPHORUSDPERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]