Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0412%/8h= −45.1% APRpaid last 24h +0.066%

Price spread now: Coinbase International against Bitget−0.008%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bitget Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.164%+$16 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$12 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.164%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.164% in total (about 8.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MORPHOUSDT	2.6415	0.0100	pay 0.0050% / 4h	1h 24m	$2.9M	$1.8M	75x
Short	Coinbase International MORPHO-PERP-INTX	2.6413	−0.0312	pay 0.0039% / 1h	24m 31s	$76K	$43K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bitget. 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 BitgetbpFee Coinbase InternationalbpOrdersPrice spread, now −0.008%Rate

Funding earned: −$86.52
Price spread: −0.008% → 0.000%: −$0.76
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$109.28
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 3 min ago; Coinbase International: no order-book sample. Net counts fees only.

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 Bitget live order book, 3 min ago	4.17 bp	24.2 bp −$24	76.9 bp −$769	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1862%	1h	2.6361	−0.204%	$82K	$149K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1414%	1h	2.6391	−0.091%	$11K	$812	10x	as long as short
01 Exchange MORPHOUSD	−0.1200%	1h	2.6341	−0.280%	$866	$13K	5x	as long as short
Polymarket Perps MORPHO-USD	−0.0703%	1h	2.6394	−0.080%	$24K	$1.7M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0610%	4h	2.6378	−0.141%	$29K	$146K	10x	as long as short
Bybit MORPHOUSDT	−0.0522%	4h	2.6411	−0.015%	$8.5M	$9.3M	25x	as long as short
Injective MORPHO/USDC PERP	−0.0337%	1h	2.6430	+0.057%	$37	$242K	5.5x	as long as short
Coinbase International MORPHO-PERP-INTXshort	−0.0312%	1h	2.6413	−0.008%	$76K	$43K	25x
BloFin MORPHO-USDT	−0.0207%	4h	2.6354	−0.231%	$640K	$243K	20x	as long as short
Gate MORPHO_USDT	−0.0160%	4h	2.6400	−0.057%	$767K	$533K	50x	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	−0.0149%	4h	2.6394	−0.080%	$10K	$34K	10x	as long as short
Phoenix MORPHO	−0.0090%	1h	2.6408	−0.027%	$34K	$484K	5x	as long as short
Variational Omni MORPHO	−0.0077%	4h	2.6372	−0.164%	$627K	$1.2M	—	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6400	−0.058%	$16	—	10x	as long as short
Extended MORPHO-USD	+0.0032%	1h	2.6400	−0.058%	$102K	$301K	10x	as long as short
MEXC MORPHO_USDT	+0.0032%	4h	2.6405	−0.038%	$5.4M	$1.1M	100x	as long as short
Binance MORPHOUSDT	+0.0033%	4h	2.6402	−0.049%	$16.1M	$25.8M	75x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6452	+0.142%	$315K	$334K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6412	−0.010%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6467	+0.197%	$6.2M	$7.0M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6409	−0.021%	$58K	$31K	20x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6411	−0.015%	$3.2M	$4.4M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6423	+0.030%	$591K	$269K	50x	as long as short
Bitget MORPHOUSDTlong	+0.0100%	4h	2.6415	long leg	$2.9M	$1.8M	75x
BingX MORPHO-USDT	+0.0100%	4h	2.6412	−0.011%	—	$1.5M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6394	−0.080%	$22K	$4K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0188% / S −12.8197%	1h	2.6431	+0.059%	$1K	—	100x	as long as short