Funding you earn now, next payment 01:00 UTC+0.0332%/8h= +36.4% APRpaid last 24h −0.031%
Price spread now: MEXC against Coinbase International−0.281%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.183%−$18 on $10k
+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. MEXC is 0.281% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.281% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$28 on $10k: about 2.8 days of funding at the current rate (+$10 a day). Mind the row above: over the last 7 days funding on this pair cost −0.183%, 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 -0.183% in total (about -9.6% 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 | Coinbase International MORPHO-PERP-INTX | 2.6299 | −0.0232 | get 0.0029% / 1h | 31m 44s | $75K | $42K | 25x |
| Short | MEXC MORPHO_USDT | 2.6225 | 0.0100 | get 0.0050% / 4h | 2h 31m | $5.5M | $886K | 100x |
Coinbase International MORPHO-PERP-INTX
MEXC MORPHO_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC against Coinbase International. 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
- $69.72
- Price spread: −0.281% → 0.000%
- −$28.14
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee MEXC: 2 bp × 2 orders
- −$4
- Net
- $27.58
- Costs to cover
- 0.140%
- Break-even
- 4.2 days
Slippage unknown: Coinbase International: no order-book sample; MEXC: live order book, 6 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 MEXC live order book, 6 min ago | 1.34 bp | 7.1 bp −$7 | 41.3 bp −$413 | 200.0 bp −$20.0K | 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 26 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 | −0.1910% | 1h | 2.6233 | −0.249% | $80K | $128K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.0520% | 1h | 2.6252 | −0.179% | $863 | $11K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0321% | 1h | 2.6260 | −0.148% | $11K | $785 | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTXlong | −0.0232% | 1h | 2.6299 | long leg | $75K | $42K | 25x | |
| Orderly PERP_MORPHO_USDC | −0.0149% | 4h | 2.6239 | −0.228% | $10K | $34K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0139% | 1h | 2.6255 | −0.167% | $25K | $1.8M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0072% | 4h | 2.6212 | −0.332% | $32K | $142K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6259 | −0.151% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | +0.0030% | 1h | 2.6271 | −0.106% | $43K | $426K | 5x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +0.498% | $37 | $242K | 5.5x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
Orderly PERP_MORPHO_USDC
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Reya MORPHORUSDPERP
Phoenix MORPHO
Injective MORPHO/USDC PERPShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | +0.0056% | 4h | 2.6231 | −0.259% | $765K | $504K | 50x | as long as short |
| Variational Omni MORPHO | +0.0070% | 4h | 2.6236 | −0.240% | $624K | $920K | — | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6270 | −0.111% | $315K | $319K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6266 | −0.125% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6270 | −0.110% | $6.2M | $7.0M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6237 | −0.236% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6229 | −0.266% | $15.8M | $25.2M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6230 | −0.262% | $8.3M | $9.3M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6246 | −0.202% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDTshort | +0.0100% | 4h | 2.6225 | −0.281% | $5.5M | $886K | 100x | |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6241 | −0.221% | $596K | $255K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6233 | −0.251% | $2.9M | $1.7M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6232 | −0.255% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6250 | −0.186% | $22K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6217 | −0.311% | $101K | $360K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6261 | −0.145% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Variational Omni MORPHO
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]