Funding you earn now, next payment 06:00 UTC+0.0278%/8h= +30.4% APRpaid last 24h −0.053%
Price spread now: Orderly against Coinbase International+0.565%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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
Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Orderly is 0.565% dearer against Coinbase International than usual: you sell high and buy low: +$56 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 | Coinbase International MORPHO-PERP-INTX | 2.5855 | −0.0432 | get 0.0054% / 1h | 8m 26s | $72K | $38K | 25x |
| Short | Orderly PERP_MORPHO_USDC | 2.6001 | −0.0154 | pay 0.0077% / 4h | 1h 08m | $10K | $34K | 10x |
Coinbase International MORPHO-PERP-INTX
Orderly PERP_MORPHO_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- $58.36
- Price spread: +0.565% → 0.000%
- $56.47
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- $98.83
- Costs to cover
- 0.160%
- Break-even
- from the start
Slippage unknown: Coinbase International: no order-book sample; 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 Coinbase International no order-book sample | — | — | — | — | — |
| Sell Orderly no order-book sample | — | — | — | — | — |
Coinbase International and 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 | 2.6001 | +0.565% | $11K | $2K | 10x | as long as short |
| Kraken Futures PF_MORPHOUSD | −0.1372% | 1h | 2.6004 | +0.577% | $84K | $135K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.1168% | 1h | 2.5904 | +0.190% | $851 | $9K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0478% | 4h | 2.5987 | +0.511% | $30K | $134K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTXlong | −0.0432% | 1h | 2.5855 | long leg | $72K | $38K | 25x | |
| Bybit MORPHOUSDT | −0.0328% | 4h | 2.6010 | +0.599% | $7.9M | $8.6M | 25x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0312% | 1h | 2.6009 | +0.596% | $28K | $1.4M | 5x | as long as short |
| BloFin MORPHO-USDT | −0.0236% | 4h | 2.5983 | +0.495% | $637K | $241K | 20x | as long as short |
| Orderly PERP_MORPHO_USDCshort | −0.0154% | 4h | 2.6001 | +0.565% | $10K | $34K | 10x | |
| Phoenix MORPHO | −0.0092% | 1h | 2.6022 | +0.646% | $33K | $339K | 5x | as long as short |
Deribit MORPHO_USDC-PERPETUAL
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Bybit MORPHOUSDT
Polymarket Perps MORPHO-USD
BloFin MORPHO-USDT
Phoenix MORPHOShow 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 | +0.542% | $619K | $677K | — | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.6009 | +0.597% | $16 | — | 10x | as long as short |
| Gate MORPHO_USDT | +0.0026% | 4h | 2.6023 | +0.650% | $763K | $512K | 50x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +2.224% | $37 | $242K | 5.5x | as long as short |
| Binance MORPHOUSDT | +0.0070% | 4h | 2.5985 | +0.503% | $15.7M | $24.4M | 75x | as long as short |
| MEXC MORPHO_USDT | +0.0076% | 4h | 2.5988 | +0.514% | $6.3M | $904K | 100x | as long as short |
| Extended MORPHO-USD | +0.0080% | 1h | 2.5978 | +0.475% | $99K | $345K | 10x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6037 | +0.704% | $313K | $294K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5967 | +0.433% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6046 | +0.738% | $5.9M | $7.0M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6022 | +0.646% | $58K | $33K | 20x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6010 | +0.599% | $3.2M | $4.2M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6038 | +0.708% | $590K | $260K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6007 | +0.588% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5998 | +0.553% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6004 | +0.576% | $21K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6029 | +0.675% | $1K | — | 100x | as long as short |
Variational Omni MORPHO
Reya MORPHORUSDPERP
Gate MORPHO_USDT
Injective MORPHO/USDC PERP
Binance MORPHOUSDT
MEXC MORPHO_USDT
Extended MORPHO-USD
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]