MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0222%/8h= +24.3% APRnext payment +$0.28 per $10,000 · paid last 24h −0.098%

Price spread now: Phoenix against Coinbase International+0.049%7-day average — · you sell dearer than you buy

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

Long on Coinbase International Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.352%−$35 on $10k

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 +$7 a day on $10k at the current rate, and Phoenix is 0.049% dearer against Coinbase International than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.352%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MORPHO-PERP-INTX	2.6434	−0.0312	get 0.0039% / 1h	1m 00s	$76K	$43K	25x
Short	Phoenix MORPHO	2.6447	−0.0090	pay 0.0011% / 1h	1m 00s	$43K	$484K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.049%Rate

Funding earned: $46.52
Price spread: +0.049% → 0.000%: $4.92
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $34.44
Costs to cover: 0.170%
Break-even: 1.8 days

Slippage unknown: Coinbase International: no order-book sample; Phoenix: live order book, 16 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 Phoenix live order book, 16 min ago	1.13 bp	13.0 bp −$13	44.6 bp −$446	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	−0.1859%	1h	2.6398	−0.136%	$81K	$148K	20x	as long as short
01 Exchange MORPHOUSD	−0.1160%	1h	2.6375	−0.223%	$867	$12K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1149%	1h	2.6420	−0.053%	$11K	$812	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0674%	1h	2.6424	−0.038%	$24K	$1.7M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0576%	4h	2.6390	−0.167%	$29K	$134K	10x	as long as short
Bybit MORPHOUSDT	−0.0404%	4h	2.6460	+0.098%	$8.4M	$9.3M	25x	as long as short
Injective MORPHO/USDC PERP	−0.0337%	1h	2.6430	−0.015%	$37	$242K	5.5x	as long as short
Coinbase International MORPHO-PERP-INTXlong	−0.0312%	1h	2.6434	long leg	$76K	$43K	25x
BloFin MORPHO-USDT	−0.0224%	4h	2.6400	−0.129%	$639K	$249K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0145%	4h	2.6421	−0.049%	$10K	$34K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MORPHO_USDT	−0.0118%	4h	2.6458	+0.091%	$768K	$534K	50x	as long as short
Phoenix MORPHOshort	−0.0090%	1h	2.6447	+0.049%	$43K	$484K	5x
Variational Omni MORPHO	−0.0080%	4h	2.6401	−0.123%	$627K	$1.2M	—	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6420	−0.051%	$16	—	10x	as long as short
Extended MORPHO-USD	+0.0016%	1h	2.6443	+0.033%	$103K	$301K	10x	as long as short
Binance MORPHOUSDT	+0.0016%	4h	2.6447	+0.049%	$16.1M	$25.8M	75x	as long as short
MEXC MORPHO_USDT	+0.0016%	4h	2.6442	+0.030%	$5.4M	$1.1M	100x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6464	+0.112%	$315K	$334K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6423	−0.040%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6519	+0.322%	$6.2M	$7.1M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6452	+0.068%	$58K	$31K	20x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6456	+0.083%	$3.2M	$4.4M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6439	+0.019%	$591K	$269K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6460	+0.098%	$2.9M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6467	+0.125%	—	$1.5M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6420	−0.053%	$22K	$4K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0188% / S −0.3373%	1h	2.6452	+0.067%	$1K	—	100x	as long as short