Funding you earn now, next payment 06:00 UTC+0.1345%/8h= +147.3% APRpaid last 24h +0.287%
Price spread now: MEXC against Deribit−0.031%52s7-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
Funding pays, the price is against you. MEXC is 0.031% cheaper against Deribit than usual: you would sell low and buy high (spread −0.031% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 2 hours of funding at the current rate (+$40 a day). The two prices were read 52 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 | Deribit MORPHO_USDC-PERPETUAL | 2.5843 | −0.1257 | get 0.0157% / 1h | 41m 29s | $11K | $2K | 10x |
| Short | MEXC MORPHO_USDT | 2.5835 | 0.0088 | get 0.0044% / 4h | 2h 41m | $5.9M | $861K | 100x |
Deribit MORPHO_USDC-PERPETUAL
MEXC MORPHO_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- $282.41
- Price spread: −0.031% → 0.000%
- −$3.1
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee MEXC: 2 bp × 2 orders
- −$4
- Net
- $268.31
- Costs to cover
- 0.110%
- Break-even
- 0.3 days
Slippage unknown: Deribit: no order-book sample; MEXC: live order book, 1 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 MEXC live order book, 1 min ago | 1.93 bp | 7.8 bp −$8 | 45.8 bp −$458 | 196.7 bp −$19.7K | 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_MORPHOUSD | −0.1562% | 1h | 2.5844 | +0.003% | $81K | $129K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUALlong | −0.1257% | 1h | 2.5843 | long leg | $11K | $2K | 10x | |
| 01 Exchange MORPHOUSD | −0.0904% | 1h | 2.5794 | −0.190% | $848 | $9K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0388% | 4h | 2.5911 | +0.264% | $33K | $134K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0216% | 1h | 2.5859 | +0.062% | $73K | $41K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0187% | 4h | 2.5888 | +0.174% | $634K | $244K | 20x | as long as short |
| Phoenix MORPHO | −0.0154% | 1h | 2.5870 | +0.104% | $33K | $330K | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0134% | 4h | 2.5854 | +0.043% | $10K | $34K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.5855 | +0.047% | $16 | — | 10x | as long as short |
| Polymarket Perps MORPHO-USD | +0.0003% | 1h | 2.5862 | +0.074% | $26K | $1.5M | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Phoenix MORPHO
Orderly PERP_MORPHO_USDC
Reya MORPHORUSDPERP
Polymarket Perps MORPHO-USDShow 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 | +2.271% | $37 | $242K | 5.5x | as long as short |
| Extended MORPHO-USD | +0.0088% | 1h | 2.5848 | +0.020% | $104K | $348K | 10x | as long as short |
| MEXC MORPHO_USDTshort | +0.0088% | 4h | 2.5835 | −0.031% | $5.9M | $861K | 100x | |
| Binance MORPHOUSDT | +0.0088% | 4h | 2.5844 | +0.004% | $15.6M | $24.1M | 75x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.5900 | +0.221% | $312K | $295K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5850 | +0.028% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.5884 | +0.159% | $5.9M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.5849 | +0.022% | $57K | $31K | 20x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.5860 | +0.066% | $8.0M | $8.5M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.5872 | +0.112% | $3.2M | $4.0M | 20x | as long as short |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.5882 | +0.151% | $769K | $483K | 50x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.5877 | +0.132% | $594K | $247K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5847 | +0.015% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5863 | +0.077% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.5930 | +0.338% | $617K | $677K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.5866 | +0.089% | $21K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0163% / S +0.0035% | 1h | 2.5874 | +0.120% | $6K | — | 100x | as long as short |
Injective MORPHO/USDC PERP
Extended MORPHO-USD
Binance MORPHOUSDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
Gate MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]