MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0106%/8h= −11.6% APRnext payment −$0.53 per $10,000 · paid last 24h +0.026%

Price spread now: BloFin against Gate−0.144%7-day average +0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$137as in the Price arb table

costs, in and out, $10k−$1211.209% of the position

Long on Gate Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.603%+$60 on $10k

Price spread, last 3 days (all we have)+0.104%+$10 · spread now −0.144%, 7d avg +0.019%

Together, before fees+0.707%+$71 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and BloFin is 0.163% cheaper against Gate than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of +0.019%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.603%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MORPHO_USDT	2.6438	−0.0118	get 0.0059% / 4h	1h 01m	$768K	$534K	50x
Short	BloFin MORPHO-USDT	2.6400	−0.0224	pay 0.0112% / 4h	1h 01m	$639K	$249K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.144%Rate

Funding earned: −$22.26
Price spread: −0.144% → +0.019%: −$16.26
Slippage, 4 orders: −$93.87
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$159.39
Costs to cover: 1.209%
Break-even: never at this rate

Slippage from Gate: live order book, 15 min ago; BloFin: live order book, 15 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, 15 min ago	5.48 bp	47.4 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 15 min ago	2.84 bp	18.6 bp −$19	34.3 bp −$343	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	−0.1859%	1h	2.6398	−0.151%	$81K	$148K	20x	as long as short
01 Exchange MORPHOUSD	−0.1160%	1h	2.6375	−0.238%	$867	$12K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1149%	1h	2.6420	−0.068%	$11K	$812	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0674%	1h	2.6424	−0.053%	$24K	$1.7M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0576%	4h	2.6390	−0.182%	$29K	$134K	10x	as long as short
Bybit MORPHOUSDT	−0.0404%	4h	2.6460	+0.083%	$8.4M	$9.3M	25x	as long as short
Injective MORPHO/USDC PERP	−0.0337%	1h	2.6430	−0.030%	$37	$242K	5.5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0312%	1h	2.6434	−0.015%	$76K	$43K	25x	as long as short
BloFin MORPHO-USDTshort	−0.0224%	4h	2.6400	−0.144%	$639K	$249K	20x
Orderly PERP_MORPHO_USDC	−0.0145%	4h	2.6421	−0.064%	$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_USDTlong	−0.0118%	4h	2.6438	long leg	$768K	$534K	50x
Phoenix MORPHO	−0.0090%	1h	2.6447	+0.034%	$43K	$484K	5x	as long as short
Variational Omni MORPHO	−0.0080%	4h	2.6401	−0.138%	$627K	$1.2M	—	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6420	−0.067%	$16	—	10x	as long as short
Extended MORPHO-USD	+0.0016%	1h	2.6416	−0.082%	$103K	$301K	10x	as long as short
Binance MORPHOUSDT	+0.0016%	4h	2.6424	−0.053%	$16.1M	$25.8M	75x	as long as short
MEXC MORPHO_USDT	+0.0016%	4h	2.6442	+0.015%	$5.4M	$1.1M	100x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6464	+0.097%	$315K	$334K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6423	−0.055%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6487	+0.185%	$6.2M	$7.1M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6428	−0.037%	$58K	$31K	20x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6467	+0.110%	$3.2M	$4.4M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6439	+0.004%	$591K	$269K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6458	+0.076%	$2.9M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6467	+0.110%	—	$1.5M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6420	−0.068%	$22K	$4K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0188% / S −0.3373%	1h	2.6452	+0.052%	$1K	—	100x	as long as short