MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0390%/8h= +42.7% APRnext payment +$1.95 per $10,000 · paid last 24h +0.009%

Price spread now: MEXC against Bybit−0.057%7-day average −0.093% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$500.499% of the position

Long on Bybit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.025%+$3 on $10k

Price spread, last 7 days−0.055%−$6 · spread now −0.057%, 7d avg −0.093%

Together, before fees−0.030%−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and MEXC is 0.036% dearer against Bybit than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.093%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.025% in total (about 1.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.95 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	2.6445	−0.0396	get 0.0198% / 4h	31m 42s	$8.4M	$9.2M	25x
Short	MEXC MORPHO_USDT	2.6430	−0.0006	pay 0.0003% / 4h	31m 42s	$5.5M	$951K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.057%Rate

Funding earned: $81.84
Price spread: −0.057% → −0.093%: $3.61
Slippage, 4 orders: −$34.86
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee MEXC: 2 bp × 2 orders: −$4
Net: $35.59
Costs to cover: 0.499%
Break-even: 4.0 days

Slippage from Bybit: live order book, 1 min ago; MEXC: live order book, 6 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, 1 min ago	1.89 bp	19.5 bp −$20	72.7 bp −$727	doesn't fit	doesn't fit
Sell MEXC live order book, 6 min ago	0.94 bp	6.6 bp −$7	40.5 bp −$405	199.3 bp −$19.9K	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	−0.1761%	1h	2.6404	−0.156%	$82K	$140K	20x	as long as short
01 Exchange MORPHOUSD	−0.0920%	1h	2.6378	−0.253%	$867	$12K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0884%	1h	2.6432	−0.049%	$11K	$812	10x	as long as short
GRVT MORPHO_USDT_Perp	−0.0536%	4h	2.6479	+0.129%	$29K	$134K	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0534%	1h	2.6444	−0.004%	$26K	$1.7M	5x	as long as short
Injective MORPHO/USDC PERP	−0.0405%	1h	2.6430	−0.057%	$37	$242K	5.5x	as long as short
Bybit MORPHOUSDTlong	−0.0396%	4h	2.6445	long leg	$8.4M	$9.2M	25x
Coinbase International MORPHO-PERP-INTX	−0.0360%	1h	2.6508	+0.238%	$76K	$43K	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0145%	4h	2.6431	−0.053%	$10K	$34K	10x	as long as short
Variational Omni MORPHO	−0.0145%	4h	2.6472	+0.102%	$629K	$1.0M	—	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin MORPHO-USDT	−0.0117%	4h	2.6450	+0.019%	$639K	$252K	20x	as long as short
Gate MORPHO_USDT	−0.0104%	4h	2.6475	+0.113%	$770K	$532K	50x	as long as short
Phoenix MORPHO	−0.0060%	1h	2.6522	+0.291%	$43K	$477K	5x	as long as short
Extended MORPHO-USD	−0.0008%	1h	2.6426	−0.072%	$103K	$298K	10x	as long as short
MEXC MORPHO_USDTshort	−0.0006%	4h	2.6430	−0.057%	$5.5M	$951K	100x
Reya MORPHORUSDPERP	−0.0004%	1h	2.6441	−0.014%	$16	—	10x	as long as short
Binance MORPHOUSDT	−0.0003%	4h	2.6429	−0.060%	$16.0M	$25.9M	75x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6476	+0.116%	$315K	$331K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6418	−0.104%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6500	+0.209%	$6.2M	$7.0M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6471	+0.097%	$58K	$31K	20x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6436	−0.034%	$3.2M	$4.4M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6473	+0.106%	$593K	$270K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6454	+0.034%	$2.9M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6452	+0.026%	—	$1.5M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6432	−0.049%	$22K	$4K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0154% / S −0.2700%	1h	2.6467	+0.084%	$1K	—	100x	as long as short