Funding you earn now, next payment 22:00 UTC+0.0352%/8h= +38.5% APRpaid last 24h −0.023%
Price spread now: Reya against Bybit+0.028%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Reya is 0.028% dearer against Bybit than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit MORPHOUSDT | 2.6657 | −0.0356 | get 0.0178% / 4h | 2h 53m | $8.8M | $10.0M | 25x |
| Short | Reya MORPHORUSDPERP | 2.6665 | −0.0004 | pay 0.0001% / 1h | 53m 11s | $16 | — | 10x |
Bybit MORPHOUSDT
Reya MORPHORUSDPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Reya 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
- $73.88
- Price spread: +0.028% → 0.000%
- $2.84
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Reya: 3 bp × 2 orders
- −$6
- Net
- $59.72
- Costs to cover
- 0.170%
- Break-even
- 1.3 days
Slippage unknown: Bybit: live order book, 5 min ago; Reya: 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 | 3.74 bp | 19.4 bp −$19 | 70.5 bp −$705 | doesn't fit | doesn't fit |
| Sell Reya no order-book sample | — | — | — | — | — |
Reya: 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_MORPHOUSD | −0.2050% | 1h | 2.6596 | −0.228% | $83K | $147K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.1400% | 1h | 2.6554 | −0.386% | $873 | $12K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1324% | 1h | 2.6650 | −0.026% | $10K | $623 | 10x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0646% | 4h | 2.6664 | +0.027% | $41K | $151K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0623% | 1h | 2.6653 | −0.015% | $25K | $2.0M | 5x | as long as short |
| Injective MORPHO/USDC PERP | −0.0385% | 1h | 2.6670 | +0.049% | $38K | $142K | 5.5x | as long as short |
| Bybit MORPHOUSDTlong | −0.0356% | 4h | 2.6657 | long leg | $8.8M | $10.0M | 25x | |
| Coinbase International MORPHO-PERP-INTX | −0.0296% | 1h | 2.6813 | +0.585% | $77K | $46K | 25x | as long as short |
| Gate MORPHO_USDT | −0.0234% | 4h | 2.6656 | −0.004% | $761K | $517K | 50x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6648 | −0.034% | $653K | $205K | 20x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
GRVT MORPHO_USDT_Perp
Polymarket Perps MORPHO-USD
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
Gate MORPHO_USDT
BloFin MORPHO-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_MORPHO_USDC | −0.0196% | 4h | 2.6642 | −0.056% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6664 | +0.026% | $34K | $493K | 5x | as long as short |
| Reya MORPHORUSDPERPshort | −0.0004% | 1h | 2.6665 | +0.028% | $16 | — | 10x | |
| Lighter MORPHO | +0.0096% | 1h | 2.6670 | +0.049% | $317K | $335K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6652 | −0.019% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6677 | +0.075% | $6.3M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6631 | −0.097% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6622 | −0.131% | $16.3M | $26.8M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6658 | +0.004% | $3.2M | $4.5M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6621 | −0.135% | $5.4M | $1.1M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6645 | −0.045% | $601K | $268K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6639 | −0.068% | $2.9M | $2.0M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6644 | −0.049% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6700 | +0.161% | $649K | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6638 | −0.071% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6634 | −0.085% | $103K | $301K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0193% / S −16.5420% | 1h | 2.6681 | +0.091% | $1K | — | 100x | as long as short |
Orderly PERP_MORPHO_USDC
Phoenix MORPHO
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]