Funding you earn now, next payment 07:00 UTC−0.0992%/8h= −108.6% APRnext payment −$1.24 per $10,000 · paid last 24h −0.211%
Price spread now: 01 Exchange against Coinbase International−0.256%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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—needs both histories
Both sides work against this trade now: funding costs −$30 a day on $10k at the current rate, and 01 Exchange is 0.256% cheaper against Coinbase International than usual: you would sell low and buy high (−$26 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International MORPHO-PERP-INTX | 2.5791 | −0.0496 | get 0.0062% / 1h | 14m 51s | $71K | $37K | 25x |
| Short | 01 Exchange MORPHOUSD | 2.5725 | −0.1488 | pay 0.0186% / 1h | 14m 51s | $845 | $9K | 5x |
Coinbase International MORPHO-PERP-INTX
01 Exchange MORPHOUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
01 Exchange 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
- −$208.32
- Price spread: −0.256% → 0.000%
- −$25.59
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee 01 Exchange: 3.5 bp × 2 orders
- −$7
- Net
- −$250.91
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Coinbase International: no order-book sample; 01 Exchange: 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 01 Exchange no order-book sample | — | — | — | — | — |
Coinbase International and 01 Exchange: 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 | −0.1532% | 1h | 2.5773 | −0.070% | $11K | $3K | 10x | as long as short |
| 01 Exchange MORPHOUSDshort | −0.1488% | 1h | 2.5725 | −0.256% | $845 | $9K | 5x | |
| Kraken Futures PF_MORPHOUSD | −0.1239% | 1h | 2.5742 | −0.191% | $84K | $133K | 20x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0704% | 4h | 2.5772 | −0.074% | $30K | $135K | 10x | as long as short |
| Bybit MORPHOUSDT | −0.0508% | 4h | 2.5800 | +0.035% | $7.9M | $8.4M | 25x | as long as short |
| Coinbase International MORPHO-PERP-INTXlong | −0.0496% | 1h | 2.5791 | long leg | $71K | $37K | 25x | |
| Polymarket Perps MORPHO-USD | −0.0409% | 1h | 2.5793 | +0.008% | $27K | $1.4M | 5x | as long as short |
| BloFin MORPHO-USDT | −0.0388% | 4h | 2.5761 | −0.116% | $630K | $238K | 20x | as long as short |
| Variational Omni MORPHO | −0.0378% | 4h | 2.5786 | −0.019% | $614K | $526K | — | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0235% | 4h | 2.5768 | −0.089% | $10K | $34K | 10x | as long as short |
Deribit MORPHO_USDC-PERPETUAL
Kraken Futures PF_MORPHOUSD
GRVT MORPHO_USDT_Perp
Bybit MORPHOUSDT
Polymarket Perps MORPHO-USD
BloFin MORPHO-USDT
Variational Omni MORPHO
Orderly PERP_MORPHO_USDCShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix MORPHO | −0.0185% | 1h | 2.5801 | +0.039% | $33K | $336K | 5x | as long as short |
| Extended MORPHO-USD | −0.0152% | 1h | 2.5765 | −0.101% | $99K | $375K | 10x | as long as short |
| MEXC MORPHO_USDT | −0.0150% | 4h | 2.5771 | −0.078% | $6.2M | $908K | 100x | as long as short |
| Binance MORPHOUSDT | −0.0148% | 4h | 2.5771 | −0.076% | $15.5M | $24.1M | 75x | as long as short |
| Gate MORPHO_USDT | −0.0146% | 4h | 2.5792 | +0.004% | $759K | $506K | 50x | as long as short |
| Aster MORPHOUSDT | −0.0075% | 4h | 2.5778 | −0.049% | $54K | $48K | 20x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.5764 | −0.104% | $15 | — | 10x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +2.478% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.5811 | +0.077% | $311K | $288K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5790 | −0.003% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.5830 | +0.151% | $5.9M | $7.0M | 5x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.5781 | −0.039% | $3.2M | $4.1M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.5792 | +0.004% | $587K | $264K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5782 | −0.035% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5789 | −0.008% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.5765 | −0.101% | $21K | $5K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0157% / S −12.8912% | 1h | 2.5804 | +0.050% | $1K | — | 100x | as long as short |
Phoenix MORPHO
Extended MORPHO-USD
MEXC MORPHO_USDT
Binance MORPHOUSDT
Gate MORPHO_USDT
Aster MORPHOUSDT
Reya MORPHORUSDPERP
Injective MORPHO/USDC PERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]