MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.2164%/8h= −237.0% APRnext payment −$2.71 per $10,000 · paid last 24h +0.083%

Price spread now: Kraken Futures against Extended+0.052%7-day average +0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs−$148as in the Funding arb table

Net, price: spread back to 7d avg − costs−$138as in the Price arb table

costs, in and out, $10k−$1361.363% of the position

Long on Extended Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.121%−$12 on $10k

Price spread, last 3 days (all we have)+0.087%+$9 · spread now +0.052%, 7d avg +0.065%

Together, before fees−0.034%+ Points / potential airdropExtended: Active · farm board−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.065%, so right now this pair is about funding alone: −$65 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 -0.121% in total (about -6.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.71 per $10,000. 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	2.6446	0.0104	pay 0.0013% / 1h	44m 56s	$103K	$301K	10x
Short	Kraken Futures PF_MORPHOUSD	2.6460	−0.2060	pay 0.0258% / 1h	44m 56s	$82K	$148K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Extended. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 ExtendedbpFee Kraken FuturesbpOrdersPrice spread, now +0.052%Rate

Funding earned: −$454.46
Price spread: +0.052% → +0.065%: −$1.33
Slippage, 4 orders: −$121.34
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$592.13
Costs to cover: 1.363%
Break-even: never at this rate

Slippage from Extended: live order book, 42 min ago; Kraken Futures: live order book, 42 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, 42 min ago	2.23 bp	21.6 bp −$22	258.9 bp −$2,589	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 42 min ago	17.81 bp	64.4 bp −$64	191.7 bp −$1,917	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
Kraken Futures PF_MORPHOUSDshort	−0.2060%	1h	2.6460	+0.052%	$82K	$148K	20x
01 Exchange MORPHOUSD	−0.1144%	1h	2.6440	−0.023%	$869	$12K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0882%	1h	2.6466	+0.075%	$11K	$911	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0621%	1h	2.6471	+0.094%	$26K	$1.9M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0564%	4h	2.6519	+0.275%	$29K	$162K	10x	as long as short
Injective MORPHO/USDC PERP	−0.0385%	1h	2.6460	+0.053%	$37	$161K	5.5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0296%	1h	2.6527	+0.306%	$76K	$46K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6472	+0.098%	$650K	$221K	20x	as long as short
Bybit MORPHOUSDT	−0.0196%	4h	2.6468	+0.083%	$8.6M	$10.1M	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0188%	4h	2.6454	+0.030%	$10K	$34K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MORPHO_USDT	−0.0168%	4h	2.6475	+0.109%	$759K	$522K	50x	as long as short
Phoenix MORPHO	−0.0030%	1h	2.6530	+0.317%	$34K	$493K	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6469	+0.086%	$16	—	10x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6504	+0.219%	$316K	$335K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6480	+0.129%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6494	+0.181%	$6.2M	$7.2M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6494	+0.180%	$58K	$33K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6449	+0.010%	$16.2M	$26.9M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6472	+0.098%	$3.2M	$4.5M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6440	−0.023%	$5.3M	$1.2M	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6488	+0.158%	$621K	$272K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6463	+0.064%	$2.9M	$2.0M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6472	+0.098%	—	$1.5M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6515	+0.261%	$643K	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6450	+0.015%	$22K	$3K	5x	as long as short
Extended MORPHO-USDlong	+0.0104%	1h	2.6446	long leg	$103K	$301K	10x
GMX MORPHO/USD [ETH-USDC]	L +0.0188% / S −12.8197%	1h	2.6478	+0.120%	$1K	—	100x	as long as short