Funding you earn now, next payment 08:00 UTC−0.0491%/8h= −53.8% APRpaid last 24h −0.029%
Price spread now: Bybit against Extended+0.105%7-day average +0.094% · you sell dearer than you buy
Net, funding: paid 7d − costs−$90as in the Funding arb table
Net, price: spread back to 7d avg − costs−$83as in the Price arb table
costs, in and out, $10k−$840.838% of the position
Funding, last 7 days−0.057%−$6 on $10k
+Price spread, last 7 days−0.001%$0 · spread now +0.105%, 7d avg +0.094%
=Together, before fees−0.059%+ Points / potential airdropExtended: Active · farm board−$6 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.094%, so right now this pair is about funding alone: −$15 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.057% in total (about -3.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended MORPHO-USD | 2.5873 | −0.0016 | get 0.0002% / 1h | 43m 39s | $99K | $342K | 10x |
| Short | Bybit MORPHOUSDT | 2.5900 | −0.0507 | pay 0.0254% / 4h | 43m 39s | $7.9M | $8.7M | 25x |
Extended MORPHO-USD
Bybit MORPHOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Extended. 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
- −$103.15
- Price spread: +0.105% → +0.094%
- $1.14
- Slippage, 4 orders
- −$67.8
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$185.82
- Costs to cover
- 0.838%
- Break-even
- never at this rate
Slippage from Extended: live order book, 59 min ago; Bybit: live order book, 4 min ago.
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 Extended live order book, 59 min ago | 2.89 bp | 22.4 bp −$22 | 180.3 bp −$1,803 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 4 min ago | 1.93 bp | 20.9 bp −$21 | 75.6 bp −$756 | doesn't fit | doesn't fit |
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 | −0.1678% | 1h | 2.5890 | +0.066% | $11K | $3K | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.1472% | 1h | 2.5805 | −0.262% | $848 | $9K | 5x | as long as short |
| Kraken Futures PF_MORPHOUSD | −0.1233% | 1h | 2.5863 | −0.038% | $84K | $133K | 20x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0598% | 4h | 2.5896 | +0.090% | $30K | $134K | 10x | as long as short |
| Bybit MORPHOUSDTshort | −0.0507% | 4h | 2.5900 | +0.105% | $7.9M | $8.7M | 25x | |
| Coinbase International MORPHO-PERP-INTX | −0.0496% | 1h | 2.5758 | −0.444% | $71K | $36K | 25x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0417% | 1h | 2.5898 | +0.097% | $24K | $1.4M | 5x | as long as short |
| Variational Omni MORPHO | −0.0208% | 4h | 2.5930 | +0.221% | $618K | $676K | — | as long as short |
| Phoenix MORPHO | −0.0185% | 1h | 2.5962 | +0.345% | $33K | $336K | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0180% | 4h | 2.5890 | +0.066% | $10K | $34K | 10x | as long as short |
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Kraken Futures PF_MORPHOUSD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
Polymarket Perps MORPHO-USD
Variational Omni MORPHO
Phoenix MORPHO
Orderly PERP_MORPHO_USDCShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | −0.0072% | 4h | 2.5918 | +0.175% | $759K | $502K | 50x | as long as short |
| Binance MORPHOUSDT | −0.0025% | 4h | 2.5881 | +0.032% | $15.6M | $24.5M | 75x | as long as short |
| BloFin MORPHO-USDT | −0.0024% | 4h | 2.5878 | +0.020% | $633K | $240K | 20x | as long as short |
| Extended MORPHO-USDlong | −0.0016% | 1h | 2.5873 | long leg | $99K | $342K | 10x | |
| MEXC MORPHO_USDT | −0.0016% | 4h | 2.5873 | +0.001% | $6.3M | $903K | 100x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.5887 | +0.056% | $16 | — | 10x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +2.154% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.5882 | +0.034% | $311K | $287K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5864 | −0.035% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.5923 | +0.196% | $5.9M | $7.0M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.5928 | +0.213% | $55K | $45K | 20x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.5905 | +0.124% | $3.2M | $4.2M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.5924 | +0.198% | $591K | $264K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5880 | +0.028% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5893 | +0.078% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.5887 | +0.055% | $21K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.5929 | +0.217% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Binance MORPHOUSDT
BloFin MORPHO-USDT
MEXC MORPHO_USDT
Reya MORPHORUSDPERP
Injective MORPHO/USDC PERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]