Funding you earn now, next payment 04:00 UTC+0.0088%/8h= +9.6% APRnext payment +$0.44 per $10,000 · paid last 24h +0.075%
Price spread now: MEXC against Gate−0.111%7-day average 0.000% · you buy dearer than you sell
Net, funding: paid 7d − costs−$81as in the Funding arb table
Net, price: spread back to 7d avg − costs−$113as in the Price arb table
costs, in and out, $10k−$1021.023% of the position
Funding, last 7 days+0.211%+$21 on $10k
+Price spread, last 4 days (all we have)+0.127%+$13 · spread now −0.111%, 7d avg 0.000%
=Funding pays, the price is against you. MEXC is 0.111% cheaper against Gate than usual: you would sell low and buy high (spread −0.111% now, against its 7-day average of 0.000%). If the spread goes back, that is −$11 on $10k: about 4.2 days of funding at the current rate (+$3 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate MORPHO_USDT | 2.6155 | 0.0012 | pay 0.0006% / 4h | 55m 06s | $757K | $478K | 50x |
| Short | MEXC MORPHO_USDT | 2.6126 | 0.0100 | get 0.0050% / 4h | 55m 06s | $5.8M | $788K | 100x |
Gate MORPHO_USDT
MEXC MORPHO_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- $18.48
- Price spread: −0.111% → 0.000%
- −$11.14
- Slippage, 4 orders
- −$83.26
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee MEXC: 2 bp × 2 orders
- −$4
- Net
- −$94.92
- Costs to cover
- 1.023%
- Break-even
- 43.0 days
Slippage from Gate: live order book, 1 min ago; MEXC: live order book, 2 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, 1 min ago | 6.88 bp | 46.7 bp −$47 | doesn't fit | doesn't fit | doesn't fit |
| Sell MEXC live order book, 2 min ago | 0.38 bp | 5.1 bp −$5 | 37.8 bp −$378 | 201.1 bp −$20.1K | 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 | −0.1659% | 1h | 2.6118 | −0.143% | $81K | $128K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0935% | 1h | 2.6138 | −0.065% | $11K | $759 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0816% | 1h | 2.6110 | −0.172% | $858 | $9K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0232% | 4h | 2.6112 | −0.164% | $32K | $142K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0224% | 1h | 2.6172 | +0.065% | $75K | $42K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6126 | −0.111% | $640K | $240K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0155% | 4h | 2.6127 | −0.107% | $10K | $34K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0112% | 1h | 2.6130 | −0.096% | $25K | $1.7M | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.6126 | −0.110% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | 0.0000% | 1h | 2.6074 | −0.310% | $43K | $370K | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDC
Polymarket Perps MORPHO-USD
Reya MORPHORUSDPERP
Phoenix MORPHOShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDTlong | +0.0012% | 4h | 2.6155 | long leg | $757K | $478K | 50x | |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +1.051% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6163 | +0.031% | $314K | $309K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6134 | −0.081% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6189 | +0.130% | $6.1M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6137 | −0.070% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6134 | −0.080% | $15.8M | $25.3M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6162 | +0.027% | $8.2M | $9.2M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6160 | +0.019% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDTshort | +0.0100% | 4h | 2.6126 | −0.111% | $5.8M | $788K | 100x | |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6154 | −0.004% | $594K | $251K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6143 | −0.046% | $2.8M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6139 | −0.061% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6166 | +0.041% | $623K | $847K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6135 | −0.076% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6120 | −0.134% | $100K | $350K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6159 | +0.015% | $1K | — | 100x | as long as short |
Injective MORPHO/USDC PERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]