Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0460%/8h= +50.4% APRpaid last 24h −0.049%

Price spread now: Paradex against Coinbase International−0.341%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 Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

Funding pays, the price is against you. Paradex is 0.341% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.341% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$34 on $10k: about 2.5 days of funding at the current rate (+$14 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MORPHO-PERP-INTX	2.6508	−0.0360	get 0.0045% / 1h	31m 32s	$76K	$43K	25x
Short	Paradex MORPHO-USD-PERP	2.6418	0.0100	get 0.0100% / 8h	31m 32s	$5K	$3	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 it

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 ParadexbpOrdersPrice spread, now −0.341%Rate

Funding earned: $96.6
Price spread: −0.341% → 0.000%: −$34.1
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: $48.49
Costs to cover: 0.140%
Break-even: 3.5 days

Slippage unknown: Coinbase International: no order-book sample; Paradex: 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 Paradex no order-book sample	—	—	—	—	—

Coinbase International and Paradex: 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	−0.1761%	1h	2.6404	−0.393%	$82K	$140K	20x	as long as short
01 Exchange MORPHOUSD	−0.0928%	1h	2.6360	−0.558%	$866	$12K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0884%	1h	2.6432	−0.287%	$11K	$812	10x	as long as short
GRVT MORPHO_USDT_Perp	−0.0548%	4h	2.6445	−0.237%	$29K	$134K	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0535%	1h	2.6425	−0.313%	$26K	$1.7M	5x	as long as short
Injective MORPHO/USDC PERP	−0.0405%	1h	2.6430	−0.294%	$37	$242K	5.5x	as long as short
Bybit MORPHOUSDT	−0.0396%	4h	2.6434	−0.279%	$8.4M	$9.2M	25x	as long as short
Coinbase International MORPHO-PERP-INTXlong	−0.0360%	1h	2.6508	long leg	$76K	$43K	25x
Orderly PERP_MORPHO_USDC	−0.0145%	4h	2.6431	−0.290%	$10K	$34K	10x	as long as short
Variational Omni MORPHO	−0.0145%	4h	2.6472	−0.136%	$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
BloFin MORPHO-USDT	−0.0117%	4h	2.6450	−0.219%	$639K	$252K	20x	as long as short
Gate MORPHO_USDT	−0.0104%	4h	2.6475	−0.124%	$770K	$532K	50x	as long as short
Phoenix MORPHO	−0.0060%	1h	2.6496	−0.045%	$43K	$477K	5x	as long as short
Extended MORPHO-USD	−0.0008%	1h	2.6426	−0.309%	$103K	$298K	10x	as long as short
MEXC MORPHO_USDT	−0.0006%	4h	2.6430	−0.294%	$5.5M	$951K	100x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6422	−0.324%	$16	—	10x	as long as short
Binance MORPHOUSDT	−0.0003%	4h	2.6421	−0.329%	$16.0M	$25.9M	75x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6476	−0.122%	$315K	$331K	5x	as long as short
Paradex MORPHO-USD-PERPshort	+0.0100%	8h	2.6418	−0.341%	$5K	$3	5x
Hyperliquid MORPHO	+0.0100%	1h	2.6498	−0.038%	$6.2M	$7.0M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6470	−0.142%	$58K	$31K	20x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6429	−0.298%	$3.2M	$4.4M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6473	−0.132%	$593K	$270K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6454	−0.204%	$2.9M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6452	−0.211%	—	$1.5M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6432	−0.287%	$22K	$4K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0154% / S −0.2700%	1h	2.6467	−0.154%	$1K	—	100x	as long as short