Funding you earn now, next payment 00:00 UTC+0.0246%/8h= +26.9% APRnext payment +$0.31 per $10,000 · paid last 24h −0.111%
Price spread now: Polymarket Perps against Coinbase International−0.516%47s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.413%−$41 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. Polymarket Perps is 0.516% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.516% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$52 on $10k: about 7.0 days of funding at the current rate (+$7 a day). Mind the row above: over the last 7 days funding on this pair cost −0.413%, so the current rate has only just turned in your favour. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International MORPHO-PERP-INTX | 2.6746 | −0.0280 | get 0.0035% / 1h | 21m 22s | $77K | $43K | 25x |
| Short | Polymarket Perps MORPHO-USD | 2.6608 | −0.0034 | pay 0.0004% / 1h | 21m 22s | $24K | $1.7M | 5x |
Coinbase International MORPHO-PERP-INTX
Polymarket Perps MORPHO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket Perps 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
- $51.61
- Price spread: −0.516% → 0.000%
- −$51.6
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$17.99
- Costs to cover
- 0.180%
- Break-even
- 9.4 days
Slippage unknown: Coinbase International: no order-book sample; Polymarket Perps: live order book, 2 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 Polymarket Perps live order book, 2 min ago | 3.56 bp | 7.6 bp −$8 | 8.2 bp −$82 | 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 | −0.1829% | 1h | 2.6568 | −0.666% | $80K | $132K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0689% | 1h | 2.6613 | −0.497% | $11K | $785 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0440% | 1h | 2.6567 | −0.669% | $873 | $13K | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTXlong | −0.0280% | 1h | 2.6746 | long leg | $77K | $43K | 25x | |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6674 | −0.269% | $639K | $238K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0145% | 4h | 2.6598 | −0.553% | $10K | $34K | 10x | as long as short |
| Variational Omni MORPHO | −0.0112% | 4h | 2.6621 | −0.469% | $634K | $1.0M | — | as long as short |
| Polymarket Perps MORPHO-USDshort | −0.0034% | 1h | 2.6608 | −0.516% | $24K | $1.7M | 5x | |
| Phoenix MORPHO | −0.0030% | 1h | 2.6753 | +0.026% | $44K | $474K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6606 | −0.523% | $16 | — | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDC
Variational Omni MORPHO
Phoenix MORPHO
Reya MORPHORUSDPERPShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | −1.181% | $37 | $242K | 5.5x | as long as short |
| Gate MORPHO_USDT | +0.0050% | 4h | 2.6652 | −0.351% | $771K | $523K | 50x | as long as short |
| GRVT MORPHO_USDT_Perp | +0.0070% | 4h | 2.6728 | −0.065% | $41K | $133K | 10x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6757 | +0.041% | $320K | $325K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6621 | −0.469% | $5K | $3 | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6654 | −0.346% | $58K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6604 | −0.531% | $16.1M | $25.8M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6640 | −0.396% | $8.5M | $9.2M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6617 | −0.482% | $3.2M | $4.5M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6598 | −0.553% | $5.6M | $904K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6642 | −0.389% | $595K | $266K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6610 | −0.508% | $3.0M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6623 | −0.460% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6607 | −0.520% | $22K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6598 | −0.555% | $104K | $367K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −0.4126% | 1h | 2.6624 | −0.458% | $1K | — | 100x | as long as short |
| Hyperliquid MORPHO | +0.0349% | 1h | 2.6670 | −0.284% | $6.3M | $7.0M | 5x | as long as short |
Injective MORPHO/USDC PERP
Gate MORPHO_USDT
GRVT MORPHO_USDT_Perp
Lighter MORPHO
Paradex MORPHO-USD-PERP
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]
Hyperliquid MORPHO