MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0496%/8h= −54.3% APRnext payment −$0.62 per $10,000 · paid last 24h −0.050%

Price spread now: Polymarket Perps against Extended+0.041%7-day average +0.057% · you sell dearer than you buy

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$610.606% of the position

Long on Extended Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.214%−$21 on $10k

Price spread, last 7 days+0.121%+$12 · spread now +0.041%, 7d avg +0.057%

Together, before fees−0.093%+ Points / potential airdropExtended: Active · farm board−$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.057%, 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 -0.214% in total (about -11.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.62 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	2.6573	0.0104	pay 0.0013% / 1h	16m 32s	$103K	$301K	10x
Short	Polymarket Perps MORPHO-USD	2.6584	−0.0392	pay 0.0049% / 1h	16m 32s	$26K	$1.8M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.041%Rate

Funding earned: −$104.14
Price spread: +0.041% → +0.057%: −$1.62
Slippage, 4 orders: −$47.57
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$166.33
Costs to cover: 0.606%
Break-even: never at this rate

Slippage from Extended: live order book, 6 min ago; Polymarket Perps: live order book, 2 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, 6 min ago	2.07 bp	21.5 bp −$21	167.1 bp −$1,671	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 2 min ago	2.63 bp	6.6 bp −$7	6.8 bp −$68	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_MORPHOUSD	−0.2050%	1h	2.6596	+0.085%	$83K	$148K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1476%	1h	2.6607	+0.128%	$11K	$911	10x	as long as short
01 Exchange MORPHOUSD	−0.0840%	1h	2.6537	−0.136%	$872	$12K	5x	as long as short
Polymarket Perps MORPHO-USDshort	−0.0392%	1h	2.6584	+0.041%	$26K	$1.8M	5x
Injective MORPHO/USDC PERP	−0.0385%	1h	2.6610	+0.139%	$37	$198K	5.5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0334%	4h	2.6613	+0.150%	$30K	$154K	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0296%	1h	2.6617	+0.165%	$77K	$46K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6592	+0.071%	$644K	$223K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0170%	4h	2.6609	+0.135%	$10K	$34K	10x	as long as short
Bybit MORPHOUSDT	−0.0102%	4h	2.6592	+0.071%	$8.6M	$9.9M	25x	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	−0.0096%	4h	2.6597	+0.090%	$767K	$526K	50x	as long as short
Phoenix MORPHO	−0.0030%	1h	2.6655	+0.308%	$34K	$493K	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6595	+0.083%	$16	—	10x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6636	+0.237%	$317K	$336K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6575	+0.008%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6642	+0.261%	$6.3M	$7.2M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6600	+0.100%	$58K	$33K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6575	+0.008%	$16.3M	$26.7M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6608	+0.131%	$3.2M	$4.5M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6576	+0.011%	$5.5M	$1.2M	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6632	+0.222%	$624K	$269K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6586	+0.049%	$2.9M	$1.9M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6614	+0.154%	—	$1.5M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6639	+0.246%	$647K	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6600	+0.101%	$22K	$3K	5x	as long as short
Extended MORPHO-USDlong	+0.0104%	1h	2.6573	long leg	$103K	$301K	10x
GMX MORPHO/USD [ETH-USDC]	L +0.0188% / S −12.8197%	1h	2.6635	+0.233%	$1K	—	100x	as long as short