Funding you earn now, next payment 00:00 UTC−0.0172%/8h= −18.8% APRnext payment −$0.86 per $10,000 · paid last 24h −0.086%
Price spread now: Gate against Bitget−0.011%7-day average +0.003% · you buy dearer than you sell
Net, funding: paid 7d − costs−$151as in the Funding arb table
Net, price: spread back to 7d avg − costs−$131as in the Price arb table
costs, in and out, $10k−$1291.295% of the position
Funding, last 7 days−0.219%−$22 on $10k
+Price spread, last 4 days (all we have)+0.063%+$6 · spread now −0.011%, 7d avg +0.003%
=The price spread sits at its 7-day average of +0.003%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bitget MORPHOUSDT | 2.6527 | 0.0100 | pay 0.0050% / 4h | 16m 29s | $2.9M | $1.8M | 75x |
| Short | Gate MORPHO_USDT | 2.6524 | −0.0072 | pay 0.0036% / 4h | 16m 29s | $771K | $532K | 50x |
Bitget MORPHOUSDT
Gate MORPHO_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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
- −$36.12
- Price spread: −0.011% → +0.003%
- −$1.44
- Slippage, 4 orders
- −$102.48
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$167.05
- Costs to cover
- 1.295%
- Break-even
- never at this rate
Slippage from Bitget: live order book, 1 min ago; Gate: live order book, 60 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 Bitget live order book, 1 min ago | 3.58 bp | 25.7 bp −$26 | 83.0 bp −$830 | doesn't fit | doesn't fit |
| Sell Gate live order book, 60 min ago | 5.48 bp | 39.4 bp −$39 | 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 | −0.1755% | 1h | 2.6496 | −0.116% | $81K | $143K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.0856% | 1h | 2.6474 | −0.200% | $870 | $12K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0730% | 1h | 2.6503 | −0.090% | $11K | $812 | 10x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0490% | 4h | 2.6537 | +0.038% | $41K | $145K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0462% | 1h | 2.6507 | −0.075% | $28K | $1.7M | 5x | as long as short |
| Injective MORPHO/USDC PERP | −0.0405% | 1h | 2.6430 | −0.366% | $37 | $242K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0360% | 1h | 2.6555 | +0.106% | $76K | $43K | 25x | as long as short |
| Bybit MORPHOUSDT | −0.0347% | 4h | 2.6500 | −0.102% | $8.4M | $9.2M | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0209% | 4h | 2.6538 | +0.041% | $637K | $253K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0145% | 4h | 2.6494 | −0.124% | $10K | $34K | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
GRVT MORPHO_USDT_Perp
Polymarket Perps MORPHO-USD
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
Bybit MORPHOUSDT
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 | −0.0144% | 4h | 2.6501 | −0.096% | $630K | $1.0M | — | as long as short |
| Gate MORPHO_USDTshort | −0.0072% | 4h | 2.6524 | −0.011% | $771K | $532K | 50x | |
| Phoenix MORPHO | −0.0060% | 1h | 2.6556 | +0.109% | $44K | $477K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6503 | −0.091% | $16 | — | 10x | as long as short |
| MEXC MORPHO_USDT | +0.0030% | 4h | 2.6507 | −0.075% | $5.5M | $961K | 100x | as long as short |
| Extended MORPHO-USD | +0.0032% | 1h | 2.6515 | −0.044% | $103K | $298K | 10x | as long as short |
| Binance MORPHOUSDT | +0.0036% | 4h | 2.6516 | −0.042% | $16.0M | $26.0M | 75x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6569 | +0.159% | $316K | $331K | 5x | as long as short |
| Aster MORPHOUSDT | +0.0097% | 4h | 2.6516 | −0.042% | $58K | $30K | 20x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6528 | +0.003% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6576 | +0.185% | $6.3M | $7.0M | 5x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6514 | −0.049% | $3.2M | $4.5M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6532 | +0.019% | $594K | $268K | 50x | as long as short |
| Bitget MORPHOUSDTlong | +0.0100% | 4h | 2.6527 | long leg | $2.9M | $1.8M | 75x | |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6511 | −0.060% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6516 | −0.041% | $22K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0158% / S −0.3418% | 1h | 2.6519 | −0.031% | $1K | — | 100x | as long as short |
Variational Omni MORPHO
Phoenix MORPHO
Reya MORPHORUSDPERP
MEXC MORPHO_USDT
Extended MORPHO-USD
Binance MORPHOUSDT
Lighter MORPHO
Aster MORPHOUSDT
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
BingX MORPHO-USDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]