Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against BingX+0.105%7-day average +0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$214as in the Funding arb table

Net, price: spread back to 7d avg − costs−$206as in the Price arb table

costs, in and out, $10k−$2142.136% of the position

Long on BingX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.009%−$1 on $10k

Price spread, last 4 days (all we have)−0.212%−$21 · spread now +0.105%, 7d avg +0.025%

Together, before fees−0.221%−$22 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.080% dearer against BingX than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX MORPHO-USDT	2.6622	0.0100	pay 0.0050% / 4h	2h 54m	—	$1.4M	—
Short	KuCoin MORPHOUSDTM	2.6650	0.0100	get 0.0050% / 4h	2h 54m	$600K	$268K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.105%Rate

Funding earned: $0
Price spread: +0.105% → +0.025%: $8.03
Slippage, 4 orders: −$191.62
Fee BingX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$205.59
Costs to cover: 2.136%
Break-even: never at this rate

Slippage from BingX: live order book, 8 min ago; KuCoin: live order book, 28 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, 8 min ago	4.48 bp	19.7 bp −$20	38.4 bp −$384	357.9 bp −$35.8K	708.1 bp −$354.1K
Sell KuCoin live order book, 28 min ago	13.94 bp	110.0 bp −$110	196.8 bp −$1,968	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	−0.2049%	1h	2.6609	−0.049%	$84K	$147K	20x	as long as short
01 Exchange MORPHOUSD	−0.1400%	1h	2.6554	−0.255%	$873	$12K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1100%	1h	2.6637	+0.056%	$10K	$623	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0664%	1h	2.6607	−0.056%	$25K	$2.0M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0608%	4h	2.6672	+0.188%	$41K	$151K	10x	as long as short
Bybit MORPHOUSDT	−0.0396%	4h	2.6623	+0.004%	$8.8M	$10.0M	25x	as long as short
Injective MORPHO/USDC PERP	−0.0385%	1h	2.7020	+1.495%	$38	$123K	5.5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0296%	1h	2.6813	+0.717%	$77K	$46K	25x	as long as short
Gate MORPHO_USDT	−0.0256%	4h	2.6644	+0.083%	$761K	$517K	50x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6643	+0.079%	$653K	$205K	20x	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	−0.0197%	4h	2.6623	+0.004%	$10K	$34K	10x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6615	−0.026%	$16	—	10x	as long as short
Phoenix MORPHO	+0.0059%	1h	2.6653	+0.116%	$34K	$493K	5x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6658	+0.137%	$317K	$335K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6618	−0.014%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6676	+0.203%	$6.3M	$7.1M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6594	−0.105%	$58K	$33K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6610	−0.045%	$16.3M	$26.8M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6637	+0.056%	$3.2M	$4.5M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6616	−0.023%	$5.4M	$1.1M	100x	as long as short
KuCoin MORPHOUSDTMshort	+0.0100%	4h	2.6650	+0.105%	$600K	$268K	50x
Bitget MORPHOUSDT	+0.0100%	4h	2.6635	+0.049%	$2.9M	$2.0M	75x	as long as short
BingX MORPHO-USDTlong	+0.0100%	4h	2.6622	long leg	—	$1.4M	—
Variational Omni MORPHO	+0.0100%	4h	2.6700	+0.292%	$649K	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6628	+0.023%	$22K	$3K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6605	−0.063%	$103K	$301K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0193% / S −16.5420%	1h	2.6660	+0.141%	$1K	—	100x	as long as short