Funding you earn now, next payment 02:00 UTC−0.0740%/8h= −81.0% APRpaid last 24h −0.211%
Price spread now: Deribit against Gate−0.038%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and Deribit is 0.038% cheaper against Gate than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate MORPHO_USDT | 2.6356 | 0.0004 | pay 0.0002% / 4h | 2h 51m | $759K | $494K | 50x |
| Short | Deribit MORPHO_USDC-PERPETUAL | 2.6346 | −0.0736 | pay 0.0092% / 1h | 51m 17s | $11K | $785 | 10x |
Gate MORPHO_USDT
Deribit MORPHO_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$155.38
- Price spread: −0.038% → 0.000%
- −$3.79
- Slippage, 4 orders
- no order book: not counted
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$181.17
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage unknown: Gate: live order book, 15 min ago; Deribit: no order-book sample. Net counts fees only.
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 | 5.82 bp | 38.8 bp −$39 | doesn't fit | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.1903% | 1h | 2.6325 | −0.119% | $80K | $126K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUALshort | −0.0736% | 1h | 2.6346 | −0.038% | $11K | $785 | 10x | |
| 01 Exchange MORPHOUSD | −0.0688% | 1h | 2.6342 | −0.053% | $866 | $10K | 5x | as long as short |
| BloFin MORPHO-USDT | −0.0234% | 4h | 2.6322 | −0.129% | $642K | $237K | 20x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0232% | 1h | 2.6456 | +0.379% | $76K | $43K | 25x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0149% | 4h | 2.6327 | −0.110% | $10K | $34K | 10x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0116% | 4h | 2.6313 | −0.162% | $40K | $133K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0111% | 1h | 2.6335 | −0.080% | $47K | $1.8M | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6326 | −0.113% | $16 | — | 10x | as long as short |
| Gate MORPHO_USDTlong | +0.0004% | 4h | 2.6356 | long leg | $759K | $494K | 50x |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
BloFin MORPHO-USDT
Coinbase International MORPHO-PERP-INTX
Orderly PERP_MORPHO_USDC
GRVT MORPHO_USDT_Perp
Polymarket Perps MORPHO-USD
Reya MORPHORUSDPERPShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix MORPHO | +0.0030% | 1h | 2.6277 | −0.300% | $43K | $426K | 5x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +0.281% | $37 | $242K | 5.5x | as long as short |
| Variational Omni MORPHO | +0.0062% | 4h | 2.6331 | −0.095% | $627K | $925K | — | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6466 | +0.418% | $317K | $319K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6338 | −0.068% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6390 | +0.129% | $6.2M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6335 | −0.080% | $58K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6335 | −0.080% | $15.9M | $25.2M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6351 | −0.019% | $8.3M | $9.2M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6348 | −0.030% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6328 | −0.106% | $5.5M | $873K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6359 | +0.011% | $595K | $258K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6346 | −0.038% | $2.9M | $1.7M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6369 | +0.049% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6340 | −0.061% | $22K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6328 | −0.105% | $101K | $358K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −0.4126% | 1h | 2.6354 | −0.007% | $1K | — | 100x | as long as short |
Phoenix MORPHO
Injective MORPHO/USDC PERP
Variational Omni MORPHO
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]