MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0234%/8h= +25.6% APRnext payment +$1.17 per $10,000 · paid last 24h +0.086%

Price spread now: BingX against Gate−0.030%7-day average +0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$102as in the Funding arb table

Net, price: spread back to 7d avg − costs−$131as in the Price arb table

costs, in and out, $10k−$1241.242% of the position

Long on Gate Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.219%+$22 on $10k

Price spread, last 4 days (all we have)+0.092%+$9 · spread now −0.030%, 7d avg +0.036%

Together, before fees+0.311%+$31 on $10k · with fees, hour by hour

Funding pays, the price is against you. BingX is 0.067% cheaper against Gate than usual: you would sell low and buy high (spread −0.030% now, against its 7-day average of +0.036%). If the spread goes back, that is −$7 on $10k: about 23 hours of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.219% in total) that is about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MORPHO_USDT	2.6532	−0.0134	get 0.0067% / 4h	2h 41m	$761K	$523K	50x
Short	BingX MORPHO-USDT	2.6524	0.0100	get 0.0050% / 4h	2h 41m	—	$1.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Gate. 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 GatebpFee BingXbpOrdersPrice spread, now −0.030%Rate

Funding earned: $49.14
Price spread: −0.030% → +0.036%: −$6.66
Slippage, 4 orders: −$99.2
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$81.72
Costs to cover: 1.242%
Break-even: 18.6 days

Slippage from Gate: live order book, 44 min ago; BingX: live order book, 5 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 Gate live order book, 44 min ago	8.90 bp	39.0 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 5 min ago	2.83 bp	19.2 bp −$19	42.3 bp −$423	185.7 bp −$18.6K	522.3 bp −$261.2K

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	−0.2058%	1h	2.6486	−0.174%	$83K	$148K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1143%	1h	2.6525	−0.026%	$11K	$911	10x	as long as short
01 Exchange MORPHOUSD	−0.1080%	1h	2.6488	−0.166%	$870	$12K	5x	as long as short
Polymarket Perps MORPHO-USD	−0.0565%	1h	2.6535	+0.011%	$26K	$1.9M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0550%	4h	2.6452	−0.303%	$29K	$162K	10x	as long as short
Injective MORPHO/USDC PERP	−0.0385%	1h	2.6460	−0.271%	$37	$161K	5.5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0296%	1h	2.6527	−0.019%	$76K	$46K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6496	−0.136%	$652K	$221K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0184%	4h	2.6522	−0.038%	$10K	$34K	10x	as long as short
Bybit MORPHOUSDT	−0.0176%	4h	2.6520	−0.045%	$8.6M	$10.1M	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_USDTlong	−0.0134%	4h	2.6532	long leg	$761K	$523K	50x
Phoenix MORPHO	−0.0030%	1h	2.6479	−0.200%	$34K	$493K	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6534	+0.008%	$16	—	10x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6589	+0.215%	$317K	$336K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6532	−0.001%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6563	+0.117%	$6.2M	$7.2M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6550	+0.067%	$58K	$33K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6494	−0.143%	$16.2M	$26.9M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6523	−0.034%	$3.2M	$4.5M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6496	−0.136%	$5.3M	$1.2M	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6519	−0.049%	$622K	$271K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6524	−0.030%	$2.9M	$2.0M	75x	as long as short
BingX MORPHO-USDTshort	+0.0100%	4h	2.6524	−0.030%	—	$1.5M	—
Variational Omni MORPHO	+0.0100%	4h	2.6515	−0.064%	$643K	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6511	−0.079%	$22K	$3K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6496	−0.136%	$103K	$301K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0188% / S −12.8197%	1h	2.6557	+0.095%	$1K	—	100x	as long as short