Funding you earn now, next payment 00:00 UTC−0.0042%/8h= −4.6% APRnext payment −$0.21 per $10,000 · paid last 24h +0.078%
Price spread now: Bybit against Gate+0.094%7-day average +0.077% · you sell dearer than you buy
Net, funding: paid 7d − costs−$123as in the Funding arb table
Net, price: spread back to 7d avg − costs−$139as in the Price arb table
costs, in and out, $10k−$1411.406% of the position
Funding, last 7 days+0.177%+$18 on $10k
+Price spread, last 4 days (all we have)+0.101%+$10 · spread now +0.094%, 7d avg +0.077%
=The price spread sits at its 7-day average of +0.077%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.177%, 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 | 2.6525 | −0.0134 | get 0.0067% / 4h | 2h 42m | $760K | $523K | 50x |
| Short | Bybit MORPHOUSDT | 2.6550 | −0.0176 | pay 0.0088% / 4h | 2h 42m | $8.6M | $10.1M | 25x |
Gate MORPHO_USDT
Bybit MORPHOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Gate. 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
- −$8.84
- Price spread: +0.094% → +0.077%
- $1.76
- Slippage, 4 orders
- −$114.55
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$147.63
- Costs to cover
- 1.406%
- Break-even
- never at this rate
Slippage from Gate: live order book, 43 min ago; Bybit: live order book, 6 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, 43 min ago | 8.90 bp | 39.0 bp −$39 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 6 min ago | 1.88 bp | 27.4 bp −$27 | 86.7 bp −$867 | 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 | −0.2059% | 1h | 2.6474 | −0.194% | $83K | $148K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.1080% | 1h | 2.6488 | −0.139% | $870 | $12K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0956% | 1h | 2.6500 | −0.094% | $11K | $911 | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0565% | 1h | 2.6535 | +0.038% | $26K | $1.9M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0550% | 4h | 2.6452 | −0.276% | $29K | $162K | 10x | as long as short |
| Injective MORPHO/USDC PERP | −0.0385% | 1h | 2.6460 | −0.245% | $37 | $161K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0296% | 1h | 2.6527 | +0.008% | $76K | $46K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6496 | −0.109% | $652K | $221K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0186% | 4h | 2.6498 | −0.102% | $10K | $34K | 10x | as long as short |
| Bybit MORPHOUSDTshort | −0.0176% | 4h | 2.6550 | +0.094% | $8.6M | $10.1M | 25x |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDCShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDTlong | −0.0134% | 4h | 2.6525 | long leg | $760K | $523K | 50x | |
| Phoenix MORPHO | −0.0030% | 1h | 2.6479 | −0.173% | $34K | $493K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6534 | +0.034% | $16 | — | 10x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6588 | +0.237% | $317K | $336K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6532 | +0.026% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6582 | +0.216% | $6.2M | $7.2M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6541 | +0.060% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6524 | −0.004% | $16.3M | $26.9M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6549 | +0.090% | $3.2M | $4.5M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6518 | −0.026% | $5.3M | $1.2M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6538 | +0.049% | $622K | $271K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6535 | +0.038% | $2.9M | $2.0M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6527 | +0.008% | — | $1.5M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6515 | −0.037% | $643K | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6489 | −0.136% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6512 | −0.050% | $103K | $301K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6515 | −0.036% | $1K | — | 100x | as long as short |
Phoenix MORPHO
Reya MORPHORUSDPERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]