MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0408%/8h= +44.7% APRnext payment +$0.51 per $10,000 · paid last 24h −0.050%

Price spread now: Extended against Coinbase International−0.146%7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.175%−$17 on $10k

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

Together, before fees—+ Points / potential airdropExtended: Active · farm boardneeds both histories

Funding pays, the price is against you. Extended is 0.146% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.146% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 29 hours of funding at the current rate (+$12 a day). Mind the row above: over the last 7 days funding on this pair cost −0.175%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.175% in total (about -9.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.51 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	Coinbase International MORPHO-PERP-INTX	2.6555	−0.0360	get 0.0045% / 1h	12m 10s	$76K	$43K	25x
Short	Extended MORPHO-USD	2.6516	0.0048	get 0.0006% / 1h	12m 10s	$103K	$298K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Coinbase InternationalbpFee ExtendedbpOrdersPrice spread, now −0.146%Rate

Funding earned: $85.68
Price spread: −0.146% → 0.000%: −$14.63
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $56.05
Costs to cover: 0.150%
Break-even: 2.4 days

Slippage unknown: Coinbase International: no order-book sample; Extended: live order book, 65 min ago. 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Extended live order book, 65 min ago	2.46 bp	22.2 bp −$22	262.1 bp −$2,621	doesn't fit	doesn't fit

Coinbase International: 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	−0.1756%	1h	2.6481	−0.279%	$81K	$143K	20x	as long as short
01 Exchange MORPHOUSD	−0.0840%	1h	2.6477	−0.294%	$870	$12K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0767%	1h	2.6520	−0.132%	$11K	$812	10x	as long as short
GRVT MORPHO_USDT_Perp	−0.0482%	4h	2.6517	−0.143%	$40K	$145K	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0460%	1h	2.6515	−0.151%	$28K	$1.7M	5x	as long as short
Injective MORPHO/USDC PERP	−0.0405%	1h	2.6430	−0.471%	$37	$242K	5.5x	as long as short
Coinbase International MORPHO-PERP-INTXlong	−0.0360%	1h	2.6555	long leg	$76K	$43K	25x
Bybit MORPHOUSDT	−0.0327%	4h	2.6517	−0.143%	$8.4M	$9.2M	25x	as long as short
BloFin MORPHO-USDT	−0.0195%	4h	2.6493	−0.233%	$636K	$253K	20x	as long as short
Variational Omni MORPHO	−0.0165%	4h	2.6511	−0.165%	$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
Orderly PERP_MORPHO_USDC	−0.0146%	4h	2.6514	−0.154%	$10K	$34K	10x	as long as short
Phoenix MORPHO	−0.0060%	1h	2.6531	−0.090%	$43K	$477K	5x	as long as short
Gate MORPHO_USDT	−0.0056%	4h	2.6547	−0.030%	$771K	$532K	50x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6519	−0.136%	$16	—	10x	as long as short
MEXC MORPHO_USDT	+0.0044%	4h	2.6510	−0.169%	$5.5M	$961K	100x	as long as short
Binance MORPHOUSDT	+0.0048%	4h	2.6509	−0.173%	$16.1M	$26.0M	75x	as long as short
Extended MORPHO-USDshort	+0.0048%	1h	2.6516	−0.146%	$103K	$298K	10x
Aster MORPHOUSDT	+0.0091%	4h	2.6520	−0.130%	$58K	$30K	20x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6553	−0.008%	$316K	$331K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6520	−0.133%	$5K	$3	5x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6520	−0.132%	$3.2M	$4.5M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6547	−0.030%	$595K	$268K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6549	−0.023%	$2.9M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6528	−0.102%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6509	−0.173%	$22K	$4K	5x	as long as short
Hyperliquid MORPHO	+0.0107%	1h	2.6587	+0.121%	$6.3M	$7.0M	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0158% / S −0.3418%	1h	2.6541	−0.053%	$1K	—	100x	as long as short