Funding you earn now, next payment 22:00 UTC−0.0326%/8h= −35.7% APRpaid last 24h −0.041%
Price spread now: Polymarket Perps against Bybit−0.064%7-day average −0.051% · you buy dearer than you sell
Net, funding: paid 7d − costs−$85as in the Funding arb table
Net, price: spread back to 7d avg − costs−$68as in the Price arb table
costs, in and out, $10k−$660.663% of the position
Funding, last 7 days−0.182%−$18 on $10k
+Price spread, last 7 days+0.014%+$1 · spread now −0.064%, 7d avg −0.051%
=The price spread sits at its 7-day average of −0.051%, so right now this pair is about funding alone: −$10 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.182% in total (about -9.5% a year). A funding rate is set anew for every payment. 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 | 2.6510 | −0.0236 | get 0.0118% / 4h | 2h 40m | $8.6M | $10.1M | 25x |
| Short | Polymarket Perps MORPHO-USD | 2.6493 | −0.0562 | pay 0.0070% / 1h | 40m 36s | $26K | $1.9M | 5x |
Bybit MORPHOUSDT
Polymarket Perps MORPHO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket Perps 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
- −$68.49
- Price spread: −0.064% → −0.051%
- −$1.36
- Slippage, 4 orders
- −$47.35
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$136.2
- Costs to cover
- 0.663%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 3 min ago; Polymarket Perps: live order book, 3 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, 3 min ago | 3.78 bp | 25.8 bp −$26 | 95.2 bp −$952 | doesn't fit | doesn't fit |
| Sell Polymarket Perps live order book, 3 min ago | 2.64 bp | 7.7 bp −$8 | 8.8 bp −$88 | 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 | −0.2058% | 1h | 2.6488 | −0.084% | $83K | $148K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1144% | 1h | 2.6506 | −0.015% | $11K | $911 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.1048% | 1h | 2.6457 | −0.200% | $869 | $12K | 5x | as long as short |
| Polymarket Perps MORPHO-USDshort | −0.0562% | 1h | 2.6493 | −0.064% | $26K | $1.9M | 5x | |
| GRVT MORPHO_USDT_Perp | −0.0550% | 4h | 2.6452 | −0.220% | $29K | $162K | 10x | as long as short |
| Injective MORPHO/USDC PERP | −0.0385% | 1h | 2.6460 | −0.189% | $37 | $161K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0296% | 1h | 2.6527 | +0.064% | $76K | $46K | 25x | as long as short |
| Bybit MORPHOUSDTlong | −0.0236% | 4h | 2.6510 | long leg | $8.6M | $10.1M | 25x | |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6503 | −0.026% | $652K | $221K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0183% | 4h | 2.6505 | −0.019% | $10K | $34K | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDCShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | −0.0156% | 4h | 2.6506 | −0.015% | $760K | $523K | 50x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6479 | −0.117% | $34K | $493K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6501 | −0.033% | $16 | — | 10x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6586 | +0.286% | $317K | $336K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6494 | −0.060% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6548 | +0.143% | $6.2M | $7.2M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6538 | +0.104% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6488 | −0.083% | $16.2M | $26.9M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6519 | +0.034% | $3.2M | $4.5M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6490 | −0.075% | $5.3M | $1.2M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6536 | +0.098% | $622K | $271K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6524 | +0.053% | $2.9M | $2.0M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6506 | −0.015% | — | $1.5M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6500 | −0.037% | $644K | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6500 | −0.038% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6490 | −0.075% | $103K | $301K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6526 | +0.062% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
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
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]