Funding you earn now, next payment 00:00 UTC+0.0744%/8h= +81.5% APRnext payment +$3.72 per $10,000 · paid last 24h +0.009%
Price spread now: BingX against Bybit+0.015%7-day average −0.051% · you sell dearer than you buy
Net, funding: paid 7d − costs−$69as in the Funding arb table
Net, price: spread back to 7d avg − costs−$66as in the Price arb table
costs, in and out, $10k−$730.727% of the position
Funding, last 7 days+0.042%+$4 on $10k
+Price spread, last 7 days−0.094%−$9 · spread now +0.015%, 7d avg −0.051%
=Both sides work for this trade now. Funding pays +$22 a day on $10k at the current rate, and BingX is 0.066% dearer against Bybit than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.051%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.042% in total (about 2.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.72 per $10,000. 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 | Bybit MORPHOUSDT | 2.6536 | −0.0644 | get 0.0322% / 4h | 1h 56m | $8.6M | $9.6M | 25x |
| Short | BingX MORPHO-USDT | 2.6540 | 0.0100 | get 0.0050% / 4h | 1h 56m | — | $1.5M | — |
Bybit MORPHOUSDT
BingX MORPHO-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX against Bybit. 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
- $156.32
- Price spread: +0.015% → −0.051%
- $6.62
- Slippage, 4 orders
- −$51.74
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- $90.21
- Costs to cover
- 0.727%
- Break-even
- 3.0 days
Slippage from Bybit: live order book, 2 min ago; BingX: live order book, 4 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 Bybit live order book, 2 min ago | 3.77 bp | 19.7 bp −$20 | 83.9 bp −$839 | doesn't fit | doesn't fit |
| Sell BingX live order book, 4 min ago | 2.64 bp | 18.0 bp −$18 | 39.9 bp −$399 | 230.2 bp −$23.0K | 550.3 bp −$275.1K |
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 | −0.1850% | 1h | 2.6531 | −0.019% | $83K | $149K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.1264% | 1h | 2.6489 | −0.177% | $870 | $13K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1104% | 1h | 2.6547 | +0.041% | $11K | $911 | 10x | as long as short |
| Bybit MORPHOUSDTlong | −0.0644% | 4h | 2.6536 | long leg | $8.6M | $9.6M | 25x | |
| GRVT MORPHO_USDT_Perp | −0.0544% | 4h | 2.6520 | −0.059% | $29K | $154K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0540% | 1h | 2.6540 | +0.015% | $26K | $1.8M | 5x | as long as short |
| Injective MORPHO/USDC PERP | −0.0337% | 1h | 2.6610 | +0.279% | $37 | $198K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0312% | 1h | 2.6617 | +0.305% | $77K | $45K | 25x | as long as short |
| Gate MORPHO_USDT | −0.0216% | 4h | 2.6522 | −0.053% | $773K | $530K | 50x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6503 | −0.124% | $646K | $246K | 20x | 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
Gate MORPHO_USDT
BloFin MORPHO-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_MORPHO_USDC | −0.0164% | 4h | 2.6550 | +0.053% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6528 | −0.030% | $34K | $484K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6550 | +0.052% | $16 | — | 10x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6568 | +0.121% | $316K | $333K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6551 | +0.057% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6591 | +0.207% | $6.3M | $7.2M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6558 | +0.083% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6537 | +0.004% | $16.2M | $26.2M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6536 | 0.000% | $3.2M | $4.4M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6542 | +0.023% | $5.5M | $1.0M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6546 | +0.038% | $620K | $266K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6539 | +0.011% | $2.9M | $1.9M | 75x | as long as short |
| BingX MORPHO-USDTshort | +0.0100% | 4h | 2.6540 | +0.015% | — | $1.5M | — | |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6529 | −0.026% | $644K | $1.2M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6545 | +0.034% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6533 | −0.012% | $103K | $301K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6573 | +0.141% | $1K | — | 100x | as long as short |
Orderly PERP_MORPHO_USDC
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]