MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0173%/8h= +19.0% APRnext payment +$0.87 per $10,000 · paid last 24h −0.034%

Price spread now: Orderly against Bybit−0.038%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Orderly is 0.038% cheaper against Bybit than usual: you would sell low and buy high (spread −0.038% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 18 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MORPHOUSDT	2.6008	−0.0328	get 0.0164% / 4h	1h 07m	$7.9M	$8.6M	25x
Short	Orderly PERP_MORPHO_USDC	2.5998	−0.0155	pay 0.0077% / 4h	1h 07m	$10K	$34K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.038%Rate

Funding earned: $36.43
Price spread: −0.038% → 0.000%: −$3.84
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Orderly: 3 bp × 2 orders: −$6
Net: $15.59
Costs to cover: 0.170%
Break-even: 4.0 days

Slippage unknown: Bybit: live order book, 5 min ago; Orderly: no order-book sample. Net counts fees only.

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	3.84 bp	21.8 bp −$22	77.9 bp −$779	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Deribit MORPHO_USDC-PERPETUAL	−0.1401%	1h	2.5996	−0.046%	$11K	$2K	10x	as long as short
Kraken Futures PF_MORPHOUSD	−0.1372%	1h	2.6002	−0.024%	$84K	$135K	20x	as long as short
01 Exchange MORPHOUSD	−0.1168%	1h	2.5904	−0.400%	$851	$9K	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0478%	4h	2.5987	−0.080%	$30K	$134K	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0432%	1h	2.6011	+0.012%	$72K	$38K	25x	as long as short
Bybit MORPHOUSDTlong	−0.0328%	4h	2.6008	long leg	$7.9M	$8.6M	25x
Polymarket Perps MORPHO-USD	−0.0312%	1h	2.6009	+0.004%	$28K	$1.4M	5x	as long as short
BloFin MORPHO-USDT	−0.0236%	4h	2.5983	−0.096%	$637K	$241K	20x	as long as short
Orderly PERP_MORPHO_USDCshort	−0.0155%	4h	2.5998	−0.038%	$10K	$34K	10x
Phoenix MORPHO	−0.0092%	1h	2.6022	+0.054%	$33K	$339K	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MORPHO	−0.0050%	4h	2.5995	−0.049%	$619K	$677K	—	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.6009	+0.005%	$16	—	10x	as long as short
Gate MORPHO_USDT	+0.0026%	4h	2.6023	+0.058%	$763K	$512K	50x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+1.623%	$37	$242K	5.5x	as long as short
Binance MORPHOUSDT	+0.0070%	4h	2.5992	−0.062%	$15.8M	$24.4M	75x	as long as short
Extended MORPHO-USD	+0.0072%	1h	2.5985	−0.090%	$99K	$345K	10x	as long as short
MEXC MORPHO_USDT	+0.0076%	4h	2.5990	−0.069%	$6.3M	$904K	100x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6040	+0.122%	$313K	$294K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.5967	−0.158%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6046	+0.146%	$5.9M	$7.0M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6022	+0.053%	$58K	$33K	20x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6014	+0.023%	$3.2M	$4.2M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6043	+0.135%	$590K	$260K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6007	−0.004%	$2.8M	$1.6M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6012	+0.015%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6007	−0.004%	$21K	$4K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0186% / S −15.6829%	1h	2.6031	+0.088%	$1K	—	100x	as long as short