Funding you earn now, next payment 04:00 UTC+0.0300%/8h= +32.9% APRnext payment +$1.50 per $10,000 · paid last 24h +0.088%
Price spread now: Binance against BloFin−0.075%91s7-day average −0.023% · you buy dearer than you sell
Net, funding: paid 7d − costs−$92as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$540.536% of the position
Funding, last 7 days−0.380%−$38 on $10k
+Price spread, last 3 days (all we have)+0.144%+$14 · spread now −0.075%, 7d avg −0.023%
=Funding pays, the price is against you. Binance is 0.051% cheaper against BloFin than usual: you would sell low and buy high (spread −0.075% now, against its 7-day average of −0.023%). If the spread goes back, that is −$5 on $10k: about 14 hours of funding at the current rate (+$9 a day). Mind the row above: over the last 7 days funding on this pair cost −0.380%, so the current rate has only just turned in your favour. The two prices were read 91 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BloFin MORPHO-USDT | 2.6633 | −0.0200 | get 0.0100% / 4h | 3h 19m | $638K | $229K | 20x |
| Short | Binance MORPHOUSDT | 2.6613 | 0.0100 | get 0.0050% / 4h | 3h 19m | $16.1M | $25.8M | 75x |
BloFin MORPHO-USDT
Binance MORPHOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against BloFin. 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
- $63
- Price spread: −0.075% → −0.023%
- −$5.14
- Slippage, 4 orders
- −$31.58
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- $4.28
- Costs to cover
- 0.536%
- Break-even
- 6.5 days
Slippage from BloFin: live order book, 52 min ago; Binance: live order book, 7 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 BloFin live order book, 52 min ago | 0.19 bp | 16.7 bp −$17 | 33.1 bp −$331 | doesn't fit | doesn't fit |
| Sell Binance live order book, 7 min ago | 0.56 bp | 12.7 bp −$13 | 34.4 bp −$344 | 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 | −0.1829% | 1h | 2.6581 | −0.197% | $80K | $132K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0651% | 1h | 2.6614 | −0.071% | $11K | $785 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0448% | 1h | 2.6574 | −0.222% | $873 | $13K | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0280% | 1h | 2.6527 | −0.398% | $76K | $43K | 25x | as long as short |
| BloFin MORPHO-USDTlong | −0.0200% | 4h | 2.6633 | long leg | $638K | $229K | 20x | |
| Orderly PERP_MORPHO_USDC | −0.0146% | 4h | 2.6605 | −0.105% | $10K | $34K | 10x | as long as short |
| Variational Omni MORPHO | −0.0112% | 4h | 2.6621 | −0.047% | $634K | $1.0M | — | as long as short |
| Polymarket Perps MORPHO-USD | −0.0032% | 1h | 2.6603 | −0.113% | $24K | $1.7M | 5x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6753 | +0.451% | $44K | $474K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6593 | −0.151% | $16 | — | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Coinbase International MORPHO-PERP-INTX
Orderly PERP_MORPHO_USDC
Variational Omni MORPHO
Polymarket Perps MORPHO-USD
Phoenix MORPHO
Reya MORPHORUSDPERPShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | +0.0020% | 4h | 2.6627 | −0.023% | $770K | $524K | 50x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | −0.762% | $37 | $242K | 5.5x | as long as short |
| GRVT MORPHO_USDT_Perp | +0.0070% | 4h | 2.6728 | +0.359% | $41K | $133K | 10x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6724 | +0.343% | $320K | $325K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6579 | −0.203% | $5K | $3 | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6637 | +0.014% | $58K | $30K | 20x | as long as short |
| Binance MORPHOUSDTshort | +0.0100% | 4h | 2.6613 | −0.075% | $16.1M | $25.8M | 75x | |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6610 | −0.086% | $8.4M | $9.2M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6622 | −0.041% | $3.2M | $4.5M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6620 | −0.049% | $5.6M | $904K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6642 | +0.034% | $595K | $266K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6605 | −0.105% | $2.9M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6615 | −0.068% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6613 | −0.075% | $22K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6610 | −0.086% | $104K | $364K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −0.4126% | 1h | 2.6615 | −0.067% | $1K | — | 100x | as long as short |
| Hyperliquid MORPHO | +0.0354% | 1h | 2.6677 | +0.167% | $6.3M | $7.0M | 5x | as long as short |
Gate MORPHO_USDT
Injective MORPHO/USDC PERP
GRVT MORPHO_USDT_Perp
Lighter MORPHO
Paradex MORPHO-USD-PERP
Aster MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]
Hyperliquid MORPHO