MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0733%/8h= +80.3% APRnext payment +$3.66 per $10,000 · paid last 24h +0.009%

Price spread now: KuCoin against Bybit+0.076%7-day average −0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$186as in the Funding arb table

Net, price: spread back to 7d avg − costs−$180as in the Price arb table

costs, in and out, $10k−$1891.891% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.033%+$3 on $10k

Price spread, last 4 days (all we have)−0.318%−$32 · spread now +0.076%, 7d avg −0.015%

Together, before fees−0.285%−$28 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$22 a day on $10k at the current rate, and KuCoin is 0.091% dearer against Bybit than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.015%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.033% in total (about 1.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.66 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	2.6450	−0.0633	get 0.0316% / 4h	1h 53m	$8.5M	$9.6M	25x
Short	KuCoin MORPHOUSDTM	2.6470	0.0100	get 0.0050% / 4h	1h 53m	$618K	$266K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BybitbpFee KuCoinbpOrdersPrice spread, now +0.076%Rate

Funding earned: $153.92
Price spread: +0.076% → −0.015%: $9.06
Slippage, 4 orders: −$166.15
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$26.17
Costs to cover: 1.891%
Break-even: 8.2 days

Slippage from Bybit: live order book, 5 min ago; KuCoin: live order book, 20 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	3.77 bp	19.7 bp −$20	83.9 bp −$839	doesn't fit	doesn't fit
Sell KuCoin live order book, 20 min ago	9.24 bp	89.6 bp −$90	173.1 bp −$1,731	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	−0.1859%	1h	2.6396	−0.204%	$82K	$149K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1224%	1h	2.6421	−0.110%	$11K	$911	10x	as long as short
01 Exchange MORPHOUSD	−0.1184%	1h	2.6386	−0.242%	$867	$13K	5x	as long as short
Bybit MORPHOUSDTlong	−0.0633%	4h	2.6450	long leg	$8.5M	$9.6M	25x
Polymarket Perps MORPHO-USD	−0.0592%	1h	2.6440	−0.038%	$26K	$1.8M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0544%	4h	2.6541	+0.345%	$29K	$154K	10x	as long as short
Injective MORPHO/USDC PERP	−0.0337%	1h	2.6610	+0.605%	$37	$198K	5.5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0312%	1h	2.6617	+0.631%	$77K	$45K	25x	as long as short
Gate MORPHO_USDT	−0.0212%	4h	2.6468	+0.068%	$771K	$530K	50x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6411	−0.147%	$642K	$245K	20x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_MORPHO_USDC	−0.0161%	4h	2.6431	−0.072%	$10K	$34K	10x	as long as short
Phoenix MORPHO	−0.0090%	1h	2.6500	+0.189%	$34K	$484K	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6446	−0.014%	$16	—	10x	as long as short
Variational Omni MORPHO	+0.0035%	4h	2.6558	+0.407%	$643K	$1.2M	—	as long as short
Lighter MORPHO	+0.0096%	1h	2.6468	+0.069%	$315K	$333K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6444	−0.022%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6494	+0.166%	$6.2M	$7.1M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6484	+0.130%	$58K	$33K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6428	−0.083%	$16.1M	$26.2M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6447	−0.011%	$3.2M	$4.4M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6422	−0.106%	$5.5M	$1.0M	100x	as long as short
KuCoin MORPHOUSDTMshort	+0.0100%	4h	2.6470	+0.076%	$618K	$266K	50x
Bitget MORPHOUSDT	+0.0100%	4h	2.6454	+0.015%	$2.9M	$1.9M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6455	+0.019%	—	$1.5M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6425	−0.095%	$22K	$3K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6422	−0.105%	$103K	$301K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0188% / S −12.8197%	1h	2.6470	+0.074%	$1K	—	100x	as long as short