MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0292%/8h= +31.9% APRnext payment +$0.36 per $10,000 · paid last 24h −0.119%

Price spread now: Reya against Coinbase International−0.738%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 Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

Funding pays, the price is against you. Reya is 0.738% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.738% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$74 on $10k: about 8.4 days of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MORPHO-PERP-INTX	2.6813	−0.0296	get 0.0037% / 1h	54m 09s	$77K	$46K	25x
Short	Reya MORPHORUSDPERP	2.6615	−0.0004	pay 0.0001% / 1h	54m 09s	$16	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ReyabpOrdersPrice spread, now −0.738%Rate

Funding earned: $61.24
Price spread: −0.738% → 0.000%: −$73.84
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$28.6
Costs to cover: 0.160%
Break-even: 10.3 days

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

Coinbase International and Reya: 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	−0.2049%	1h	2.6609	−0.761%	$84K	$147K	20x	as long as short
01 Exchange MORPHOUSD	−0.1400%	1h	2.6554	−0.966%	$873	$12K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1100%	1h	2.6637	−0.656%	$10K	$623	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0664%	1h	2.6607	−0.768%	$25K	$2.0M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0608%	4h	2.6672	−0.525%	$41K	$151K	10x	as long as short
Bybit MORPHOUSDT	−0.0396%	4h	2.6623	−0.709%	$8.8M	$10.0M	25x	as long as short
Injective MORPHO/USDC PERP	−0.0385%	1h	2.7020	+0.772%	$38	$123K	5.5x	as long as short
Coinbase International MORPHO-PERP-INTXlong	−0.0296%	1h	2.6813	long leg	$77K	$46K	25x
Gate MORPHO_USDT	−0.0256%	4h	2.6644	−0.630%	$761K	$517K	50x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6643	−0.634%	$653K	$205K	20x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_MORPHO_USDC	−0.0197%	4h	2.6623	−0.709%	$10K	$34K	10x	as long as short
Reya MORPHORUSDPERPshort	−0.0004%	1h	2.6615	−0.738%	$16	—	10x
Phoenix MORPHO	+0.0059%	1h	2.6653	−0.597%	$34K	$493K	5x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6658	−0.577%	$317K	$335K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6618	−0.726%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6676	−0.511%	$6.3M	$7.1M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6594	−0.817%	$58K	$33K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6610	−0.757%	$16.3M	$26.8M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6637	−0.656%	$3.2M	$4.5M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6616	−0.735%	$5.4M	$1.1M	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6650	−0.608%	$600K	$268K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6635	−0.664%	$2.9M	$2.0M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6622	−0.712%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6700	−0.422%	$649K	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6628	−0.690%	$22K	$3K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6605	−0.775%	$103K	$301K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0193% / S −16.5420%	1h	2.6660	−0.572%	$1K	—	100x	as long as short