Funding you earn now, next payment 22:00 UTC−0.1291%/8h= −141.4% APRnext payment −$1.61 per $10,000 · paid last 24h +0.331%
Price spread now: Kraken Futures against Deribit−0.071%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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—needs both histories
Both sides work against this trade now: funding costs −$39 a day on $10k at the current rate, and Kraken Futures is 0.071% cheaper against Deribit than usual: you would sell low and buy high (−$7 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 | Deribit MORPHO_USDC-PERPETUAL | 2.6490 | −0.0768 | get 0.0096% / 1h | 44m 12s | $11K | $911 | 10x |
| Short | Kraken Futures PF_MORPHOUSD | 2.6471 | −0.2059 | pay 0.0257% / 1h | 44m 12s | $83K | $148K | 20x |
Deribit MORPHO_USDC-PERPETUAL
Kraken Futures PF_MORPHOUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Deribit. 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
- −$271.12
- Price spread: −0.071% → 0.000%
- −$7.13
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$295.24
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Deribit: no order-book sample; Kraken Futures: live order book, 43 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 Deribit no order-book sample | — | — | — | — | — |
| Sell Kraken Futures live order book, 43 min ago | 17.81 bp | 64.4 bp −$64 | 191.7 bp −$1,917 | doesn't fit | doesn't fit |
Deribit: 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_MORPHOUSDshort | −0.2059% | 1h | 2.6471 | −0.071% | $83K | $148K | 20x | |
| 01 Exchange MORPHOUSD | −0.1120% | 1h | 2.6447 | −0.162% | $869 | $12K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUALlong | −0.0768% | 1h | 2.6490 | long leg | $11K | $911 | 10x | |
| Polymarket Perps MORPHO-USD | −0.0609% | 1h | 2.6486 | −0.015% | $33K | $1.9M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0564% | 4h | 2.6519 | +0.109% | $29K | $162K | 10x | as long as short |
| Injective MORPHO/USDC PERP | −0.0385% | 1h | 2.6460 | −0.113% | $37 | $161K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0296% | 1h | 2.6527 | +0.140% | $76K | $46K | 25x | as long as short |
| Bybit MORPHOUSDT | −0.0233% | 4h | 2.6493 | +0.011% | $8.6M | $10.1M | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6472 | −0.068% | $650K | $221K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0187% | 4h | 2.6488 | −0.008% | $10K | $34K | 10x | as long as short |
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
Bybit MORPHOUSDT
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDCShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | −0.0168% | 4h | 2.6497 | +0.026% | $759K | $522K | 50x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6530 | +0.151% | $34K | $493K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6493 | +0.012% | $16 | — | 10x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6538 | +0.182% | $316K | $336K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6483 | −0.028% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6536 | +0.174% | $6.2M | $7.2M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6510 | +0.074% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6487 | −0.011% | $16.2M | $26.9M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6507 | +0.064% | $3.2M | $4.5M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6490 | 0.000% | $5.3M | $1.2M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6498 | +0.030% | $621K | $272K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6492 | +0.008% | $2.9M | $2.0M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6485 | −0.019% | — | $1.5M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6515 | +0.095% | $643K | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6486 | −0.015% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6484 | −0.023% | $103K | $301K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6517 | +0.102% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Phoenix MORPHO
Reya MORPHORUSDPERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]