Funding you earn now, next payment 00:00 UTC+0.0300%/8h= +32.9% APRnext payment +$1.50 per $10,000 · paid last 24h +0.060%
Price spread now: BingX against BloFin−0.015%7-day average +0.019% · you buy dearer than you sell
Net, funding: paid 7d − costs−$107as in the Funding arb table
Net, price: spread back to 7d avg − costs−$72as in the Price arb table
costs, in and out, $10k−$680.682% of the position
Funding, last 7 days−0.384%−$38 on $10k
+Price spread, last 3 days (all we have)+0.131%+$13 · spread now −0.015%, 7d avg +0.019%
=Funding pays, the price is against you. BingX is 0.034% cheaper against BloFin than usual: you would sell low and buy high (spread −0.015% now, against its 7-day average of +0.019%). If the spread goes back, that is −$3 on $10k: about 9 hours of funding at the current rate (+$9 a day). Mind the row above: over the last 7 days funding on this pair cost −0.384%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BloFin MORPHO-USDT | 2.6593 | −0.0200 | get 0.0100% / 4h | 2h 14m | $645K | $223K | 20x |
| Short | BingX MORPHO-USDT | 2.6589 | 0.0100 | get 0.0050% / 4h | 2h 14m | — | $1.5M | — |
BloFin MORPHO-USDT
BingX MORPHO-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX 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: −0.015% → +0.019%
- −$3.45
- Slippage, 4 orders
- −$46.21
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$8.66
- Costs to cover
- 0.682%
- Break-even
- 8.0 days
Slippage from BloFin: live order book, 7 min ago; BingX: live order book, 2 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, 7 min ago | 0.56 bp | 13.5 bp −$13 | 27.9 bp −$279 | doesn't fit | doesn't fit |
| Sell BingX live order book, 2 min ago | 3.76 bp | 18.8 bp −$19 | 37.3 bp −$373 | 240.7 bp −$24.1K | 573.7 bp −$286.9K |
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 | −0.2052% | 1h | 2.6559 | −0.127% | $83K | $148K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1253% | 1h | 2.6570 | −0.086% | $11K | $911 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0856% | 1h | 2.6513 | −0.301% | $871 | $12K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0392% | 1h | 2.6572 | −0.079% | $26K | $1.8M | 5x | as long as short |
| Injective MORPHO/USDC PERP | −0.0385% | 1h | 2.6610 | +0.064% | $37 | $198K | 5.5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0344% | 4h | 2.6601 | +0.031% | $30K | $154K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0296% | 1h | 2.6617 | +0.090% | $77K | $46K | 25x | as long as short |
| BloFin MORPHO-USDTlong | −0.0200% | 4h | 2.6593 | long leg | $645K | $223K | 20x | |
| Orderly PERP_MORPHO_USDC | −0.0171% | 4h | 2.6574 | −0.071% | $10K | $34K | 10x | as long as short |
| Bybit MORPHOUSDT | −0.0163% | 4h | 2.6577 | −0.060% | $8.6M | $9.9M | 25x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
Injective MORPHO/USDC PERP
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
Orderly PERP_MORPHO_USDC
Bybit MORPHOUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | −0.0098% | 4h | 2.6591 | −0.008% | $774K | $547K | 50x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6639 | +0.173% | $34K | $493K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6578 | −0.058% | $16 | — | 10x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6609 | +0.061% | $317K | $336K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6557 | −0.137% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6632 | +0.147% | $6.3M | $7.2M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6585 | −0.031% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6572 | −0.079% | $16.3M | $26.7M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6595 | +0.008% | $3.2M | $4.5M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6568 | −0.094% | $5.5M | $1.2M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6600 | +0.026% | $623K | $269K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6578 | −0.056% | $2.9M | $1.9M | 75x | as long as short |
| BingX MORPHO-USDTshort | +0.0100% | 4h | 2.6589 | −0.015% | — | $1.5M | — | |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6594 | +0.003% | $647K | $1.2M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6574 | −0.071% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6563 | −0.112% | $103K | $301K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6603 | +0.039% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Phoenix MORPHO
Reya MORPHORUSDPERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]