Funding you earn now, next payment 08:00 UTC+0.0240%/8h= +26.3% APRnext payment +$1.20 per $10,000 · paid last 24h +0.069%
Price spread now: KuCoin against Gate−0.019%7-day average +0.059% · you buy dearer than you sell
Net, funding: paid 7d − costs−$221as in the Funding arb table
Net, price: spread back to 7d avg − costs−$251as in the Price arb table
costs, in and out, $10k−$2432.431% of the position
Funding, last 7 days+0.221%+$22 on $10k
+Price spread, last 4 days (all we have)−0.035%−$3 · spread now −0.019%, 7d avg +0.059%
=Funding pays, the price is against you. KuCoin is 0.078% cheaper against Gate than usual: you would sell low and buy high (spread −0.019% now, against its 7-day average of +0.059%). If the spread goes back, that is −$8 on $10k: about 26 hours of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.221% in total) that is about 2.5 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate MORPHO_USDT | 2.5810 | −0.0140 | get 0.0070% / 4h | 14m 23s | $760K | $506K | 50x |
| Short | KuCoin MORPHOUSDTM | 2.5805 | 0.0100 | get 0.0050% / 4h | 14m 23s | $588K | $264K | 50x |
Gate MORPHO_USDT
KuCoin MORPHOUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- $50.4
- Price spread: −0.019% → +0.059%
- −$7.84
- Slippage, 4 orders
- −$216.13
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$200.57
- Costs to cover
- 2.431%
- Break-even
- 34.9 days
Slippage from Gate: live order book, 22 min ago; KuCoin: live order book, 20 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, 22 min ago | 4.84 bp | 41.7 bp −$42 | doesn't fit | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 20 min ago | 10.65 bp | 95.1 bp −$95 | 170.6 bp −$1,706 | 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 | |
|---|---|---|---|---|---|---|---|---|
| 01 Exchange MORPHOUSD | −0.1480% | 1h | 2.5720 | −0.349% | $845 | $9K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1415% | 1h | 2.5789 | −0.081% | $11K | $3K | 10x | as long as short |
| Kraken Futures PF_MORPHOUSD | −0.1239% | 1h | 2.5748 | −0.239% | $84K | $133K | 20x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0704% | 4h | 2.5772 | −0.147% | $30K | $135K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0496% | 1h | 2.5634 | −0.682% | $70K | $37K | 25x | as long as short |
| Bybit MORPHOUSDT | −0.0494% | 4h | 2.5807 | −0.012% | $7.9M | $8.4M | 25x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0413% | 1h | 2.5792 | −0.070% | $27K | $1.4M | 5x | as long as short |
| BloFin MORPHO-USDT | −0.0388% | 4h | 2.5761 | −0.190% | $630K | $238K | 20x | as long as short |
| Variational Omni MORPHO | −0.0378% | 4h | 2.5786 | −0.093% | $614K | $526K | — | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0237% | 4h | 2.5790 | −0.077% | $10K | $34K | 10x | as long as short |
01 Exchange MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
Kraken Futures PF_MORPHOUSD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
Bybit MORPHOUSDT
Polymarket Perps MORPHO-USD
BloFin MORPHO-USDT
Variational Omni MORPHO
Orderly PERP_MORPHO_USDCShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix MORPHO | −0.0185% | 1h | 2.5801 | −0.035% | $33K | $336K | 5x | as long as short |
| Extended MORPHO-USD | −0.0152% | 1h | 2.5777 | −0.129% | $99K | $375K | 10x | as long as short |
| Binance MORPHOUSDT | −0.0148% | 4h | 2.5783 | −0.105% | $15.5M | $24.1M | 75x | as long as short |
| MEXC MORPHO_USDT | −0.0148% | 4h | 2.5778 | −0.124% | $6.2M | $908K | 100x | as long as short |
| Gate MORPHO_USDTlong | −0.0140% | 4h | 2.5810 | long leg | $760K | $506K | 50x | |
| Aster MORPHOUSDT | −0.0081% | 4h | 2.5789 | −0.081% | $54K | $48K | 20x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.5764 | −0.178% | $15 | — | 10x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +2.402% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.5817 | +0.029% | $311K | $288K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5794 | −0.064% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.5826 | +0.062% | $5.9M | $7.0M | 5x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.5819 | +0.035% | $3.2M | $4.1M | 20x | as long as short |
| KuCoin MORPHOUSDTMshort | +0.0100% | 4h | 2.5805 | −0.019% | $588K | $264K | 50x | |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5782 | −0.108% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5800 | −0.039% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.5781 | −0.112% | $21K | $5K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0157% / S −12.8912% | 1h | 2.5804 | −0.023% | $1K | — | 100x | as long as short |
Phoenix MORPHO
Extended MORPHO-USD
Binance MORPHOUSDT
MEXC MORPHO_USDT
Aster MORPHOUSDT
Reya MORPHORUSDPERP
Injective MORPHO/USDC PERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
OKX MORPHO-USDT-SWAP
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]