Funding you earn now, next payment 00:00 UTC−0.1019%/8h= −111.6% APRpaid last 24h −0.265%
Price spread now: Deribit against Bitget−0.034%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$31 a day on $10k at the current rate, and Deribit is 0.034% cheaper against Bitget than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bitget MORPHOUSDT | 2.6492 | 0.0100 | pay 0.0050% / 4h | 37m 13s | $2.9M | $1.8M | 75x |
| Short | Deribit MORPHO_USDC-PERPETUAL | 2.6483 | −0.0919 | pay 0.0115% / 1h | 37m 13s | $11K | $812 | 10x |
Bitget MORPHOUSDT
Deribit MORPHO_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Bitget. 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
- −$214.03
- Price spread: −0.034% → 0.000%
- −$3.4
- Slippage, 4 orders
- no order book: not counted
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$236.43
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: Bitget: live order book, just now; Deribit: 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, just now | 4.91 bp | 26.7 bp −$27 | 77.1 bp −$771 | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
Deribit: 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 | −0.1757% | 1h | 2.6467 | −0.094% | $82K | $140K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUALshort | −0.0919% | 1h | 2.6483 | −0.034% | $11K | $812 | 10x | |
| 01 Exchange MORPHOUSD | −0.0840% | 1h | 2.6407 | −0.321% | $868 | $12K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0550% | 1h | 2.6478 | −0.053% | $26K | $1.7M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0522% | 4h | 2.6509 | +0.066% | $29K | $134K | 10x | as long as short |
| Injective MORPHO/USDC PERP | −0.0405% | 1h | 2.6430 | −0.234% | $37 | $242K | 5.5x | as long as short |
| Bybit MORPHOUSDT | −0.0395% | 4h | 2.6480 | −0.045% | $8.4M | $9.2M | 25x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0360% | 1h | 2.6654 | +0.612% | $77K | $43K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0235% | 4h | 2.6484 | −0.030% | $641K | $252K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0143% | 4h | 2.6483 | −0.034% | $10K | $34K | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Injective MORPHO/USDC PERP
Bybit MORPHOUSDT
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDCShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni MORPHO | −0.0104% | 4h | 2.6522 | +0.112% | $629K | $1.0M | — | as long as short |
| Gate MORPHO_USDT | −0.0094% | 4h | 2.6497 | +0.019% | $770K | $532K | 50x | as long as short |
| Phoenix MORPHO | −0.0060% | 1h | 2.6522 | +0.113% | $43K | $477K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6480 | −0.045% | $16 | — | 10x | as long as short |
| MEXC MORPHO_USDT | +0.0004% | 4h | 2.6483 | −0.034% | $5.4M | $942K | 100x | as long as short |
| Binance MORPHOUSDT | +0.0005% | 4h | 2.6477 | −0.058% | $16.0M | $25.8M | 75x | as long as short |
| Extended MORPHO-USD | +0.0008% | 1h | 2.6465 | −0.103% | $103K | $298K | 10x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6521 | +0.111% | $316K | $331K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6458 | −0.129% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6552 | +0.226% | $6.2M | $7.0M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6503 | +0.042% | $58K | $31K | 20x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6472 | −0.075% | $3.2M | $4.4M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6527 | +0.132% | $594K | $270K | 50x | as long as short |
| Bitget MORPHOUSDTlong | +0.0100% | 4h | 2.6492 | long leg | $2.9M | $1.8M | 75x | |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6481 | −0.042% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6475 | −0.064% | $22K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −0.3373% | 1h | 2.6502 | +0.038% | $1K | — | 100x | as long as short |
Variational Omni MORPHO
Gate MORPHO_USDT
Phoenix MORPHO
Reya MORPHORUSDPERP
MEXC MORPHO_USDT
Binance MORPHOUSDT
Extended MORPHO-USD
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
BingX MORPHO-USDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]