MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0066%/8h= −7.2% APRnext payment −$0.33 per $10,000 · paid last 24h −0.077%

Price spread now: Gate against BingX+0.011%7-day average −0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$128as in the Funding arb table

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$1051.052% of the position

Long on BingX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.227%−$23 on $10k

Price spread, last 4 days (all we have)−0.001%$0 · spread now +0.011%, 7d avg −0.036%

Together, before fees−0.228%−$23 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.047% dearer against BingX than usual: you sell high and buy low (spread +0.011% now, against its 7-day average of −0.036%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX MORPHO-USDT	2.6326	0.0100	pay 0.0050% / 4h	2h 52m	—	$1.4M	—
Short	Gate MORPHO_USDT	2.6329	0.0034	get 0.0017% / 4h	2h 52m	$759K	$493K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.011%Rate

Funding earned: −$13.86
Price spread: +0.011% → −0.036%: $4.71
Slippage, 4 orders: −$80.18
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$114.33
Costs to cover: 1.052%
Break-even: never at this rate

Slippage from BingX: live order book, 9 min ago; Gate: live order book, 14 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	2.08 bp	16.9 bp −$17	36.3 bp −$363	329.6 bp −$33.0K	684.4 bp −$342.2K
Sell Gate live order book, 14 min ago	5.82 bp	34.7 bp −$35	doesn't fit	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	−0.1907%	1h	2.6266	−0.230%	$80K	$126K	20x	as long as short
01 Exchange MORPHOUSD	−0.0760%	1h	2.6348	+0.084%	$866	$10K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0585%	1h	2.6313	−0.049%	$11K	$785	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0232%	1h	2.6456	+0.494%	$76K	$43K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6320	−0.023%	$642K	$235K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0149%	4h	2.6301	−0.095%	$10K	$34K	10x	as long as short
GRVT MORPHO_USDT_Perp	−0.0134%	4h	2.6301	−0.095%	$40K	$133K	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0114%	1h	2.6356	+0.114%	$24K	$1.7M	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6346	+0.077%	$16	—	10x	as long as short
Phoenix MORPHO	+0.0030%	1h	2.6277	−0.186%	$43K	$426K	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	+0.395%	$37	$242K	5.5x	as long as short
Gate MORPHO_USDTshort	+0.0034%	4h	2.6329	+0.011%	$759K	$493K	50x
Variational Omni MORPHO	+0.0052%	4h	2.6316	−0.038%	$627K	$925K	—	as long as short
Lighter MORPHO	+0.0096%	1h	2.6466	+0.531%	$317K	$319K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6360	+0.131%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6397	+0.270%	$6.2M	$6.9M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6339	+0.050%	$58K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6340	+0.053%	$15.9M	$25.2M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6338	+0.046%	$8.3M	$9.2M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6349	+0.087%	$3.2M	$4.3M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6340	+0.053%	$5.5M	$872K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6326	0.000%	$594K	$257K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6344	+0.068%	$2.9M	$1.7M	75x	as long as short
BingX MORPHO-USDTlong	+0.0100%	4h	2.6326	long leg	—	$1.4M	—
SoDEX MORPHO-USD	+0.0100%	1h	2.6305	−0.080%	$22K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6330	+0.014%	$101K	$362K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0186% / S −0.4126%	1h	2.6323	−0.011%	$1K	—	100x	as long as short