Funding you earn now, next payment 04:00 UTC−0.0300%/8h= −32.9% APRnext payment −$1.50 per $10,000 · paid last 24h −0.058%
Price spread now: BloFin against Bybit−0.031%92s7-day average −0.047% · you buy dearer than you sell
Net, funding: paid 7d − costs−$38as 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−$810.806% of the position
Funding, last 7 days+0.428%+$43 on $10k
+Price spread, last 4 days (all we have)−0.202%−$20 · spread now −0.031%, 7d avg −0.047%
=The price spread sits at its 7-day average of −0.047%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.428%, so the current rate has only just turned against you. The two prices were read 92 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 | Bybit MORPHOUSDT | 2.6134 | 0.0100 | pay 0.0050% / 4h | 53m 34s | $8.2M | $9.2M | 25x |
| Short | BloFin MORPHO-USDT | 2.6126 | −0.0200 | pay 0.0100% / 4h | 53m 34s | $640K | $240K | 20x |
Bybit MORPHOUSDT
BloFin MORPHO-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin 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
- −$63
- Price spread: −0.031% → −0.047%
- $1.65
- Slippage, 4 orders
- −$57.6
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$141.96
- Costs to cover
- 0.806%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 5 min ago; BloFin: live order book, 48 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, 5 min ago | 1.92 bp | 23.4 bp −$23 | 73.3 bp −$733 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 48 min ago | 0.19 bp | 16.0 bp −$16 | 32.7 bp −$327 | 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 | −0.1659% | 1h | 2.6113 | −0.082% | $81K | $128K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1202% | 1h | 2.6124 | −0.038% | $11K | $759 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0784% | 1h | 2.6088 | −0.176% | $857 | $9K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0232% | 4h | 2.6112 | −0.084% | $32K | $142K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0224% | 1h | 2.6172 | +0.145% | $75K | $42K | 25x | as long as short |
| BloFin MORPHO-USDTshort | −0.0200% | 4h | 2.6126 | −0.031% | $640K | $240K | 20x | |
| Orderly PERP_MORPHO_USDC | −0.0154% | 4h | 2.6125 | −0.034% | $10K | $34K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0134% | 1h | 2.6145 | +0.042% | $25K | $1.7M | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.6133 | −0.003% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | 0.0000% | 1h | 2.6074 | −0.230% | $43K | $370K | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
Orderly PERP_MORPHO_USDC
Polymarket Perps MORPHO-USD
Reya MORPHORUSDPERP
Phoenix MORPHOShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | +0.0010% | 4h | 2.6154 | +0.077% | $757K | $478K | 50x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +1.133% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6155 | +0.079% | $314K | $309K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6122 | −0.046% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6170 | +0.138% | $6.1M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6139 | +0.018% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6116 | −0.067% | $15.7M | $25.3M | 75x | as long as short |
| Bybit MORPHOUSDTlong | +0.0100% | 4h | 2.6134 | long leg | $8.2M | $9.2M | 25x | |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6151 | +0.065% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6109 | −0.096% | $5.8M | $788K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6154 | +0.077% | $594K | $251K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6143 | +0.034% | $2.8M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6157 | +0.088% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6166 | +0.121% | $623K | $847K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6129 | −0.019% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6110 | −0.094% | $100K | $350K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6152 | +0.069% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Injective MORPHO/USDC PERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]