Funding you earn now, next payment 00:00 UTC+0.1770%/8h= +193.8% APRpaid last 24h −0.052%
Price spread now: MEXC against Kraken Futures+0.142%7-day average −0.040% · you sell dearer than you buy
Net, funding: paid 7d − costs−$66as in the Funding arb table
Net, price: spread back to 7d avg − costs−$65as in the Price arb table
costs, in and out, $10k−$830.834% of the position
Funding, last 7 days+0.176%+$18 on $10k
+Price spread, last 3 days (all we have)−0.200%−$20 · spread now +0.142%, 7d avg −0.040%
=Both sides work for this trade now. Funding pays +$53 a day on $10k at the current rate, and MEXC is 0.182% dearer against Kraken Futures than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of −0.040%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.176% in total (about 9.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_MORPHOUSD | 2.6514 | −0.1754 | get 0.0219% / 1h | 53m 16s | $82K | $146K | 20x |
| Short | MEXC MORPHO_USDT | 2.6552 | 0.0016 | get 0.0008% / 4h | 53m 16s | $5.4M | $940K | 100x |
Kraken Futures PF_MORPHOUSD
MEXC MORPHO_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC against Kraken Futures. 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
- $371.63
- Price spread: +0.142% → −0.040%
- $18.18
- Slippage, 4 orders
- −$69.41
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee MEXC: 2 bp × 2 orders
- −$4
- Net
- $306.39
- Costs to cover
- 0.834%
- Break-even
- 1.2 days
Slippage from Kraken Futures: live order book, 24 min ago; MEXC: live order book, 9 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 Kraken Futures live order book, 24 min ago | 10.03 bp | 26.4 bp −$26 | 3798.0 bp −$38.0K | doesn't fit | doesn't fit |
| Sell MEXC live order book, 9 min ago | 1.14 bp | 7.0 bp −$7 | 42.2 bp −$422 | 186.1 bp −$18.6K | 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_MORPHOUSDlong | −0.1754% | 1h | 2.6514 | long leg | $82K | $146K | 20x | |
| Deribit MORPHO_USDC-PERPETUAL | −0.0727% | 1h | 2.6577 | +0.236% | $11K | $812 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0568% | 1h | 2.6471 | −0.163% | $870 | $12K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0544% | 4h | 2.6528 | +0.053% | $29K | $134K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0428% | 1h | 2.6557 | +0.161% | $26K | $1.7M | 5x | as long as short |
| Injective MORPHO/USDC PERP | −0.0405% | 1h | 2.6430 | −0.318% | $37 | $242K | 5.5x | as long as short |
| Bybit MORPHOUSDT | −0.0398% | 4h | 2.6570 | +0.210% | $8.5M | $9.2M | 25x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0360% | 1h | 2.6654 | +0.527% | $77K | $43K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0225% | 4h | 2.6512 | −0.009% | $636K | $250K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0147% | 4h | 2.6552 | +0.142% | $10K | $34K | 10x | as long as short |
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Polymarket Perps MORPHO-USD
Injective MORPHO/USDC PERP
Bybit MORPHOUSDT
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_USDT | −0.0140% | 4h | 2.6565 | +0.191% | $772K | $531K | 50x | as long as short |
| Variational Omni MORPHO | −0.0070% | 4h | 2.6541 | +0.102% | $631K | $1.1M | — | as long as short |
| Phoenix MORPHO | −0.0060% | 1h | 2.6556 | +0.157% | $44K | $477K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6548 | +0.127% | $16 | — | 10x | as long as short |
| Binance MORPHOUSDT | +0.0015% | 4h | 2.6585 | +0.267% | $16.1M | $25.8M | 75x | as long as short |
| Extended MORPHO-USD | +0.0016% | 1h | 2.6553 | +0.147% | $103K | $301K | 10x | as long as short |
| MEXC MORPHO_USDTshort | +0.0016% | 4h | 2.6552 | +0.142% | $5.4M | $940K | 100x | |
| Lighter MORPHO | +0.0096% | 1h | 2.6608 | +0.353% | $317K | $331K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6488 | −0.099% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6617 | +0.387% | $6.3M | $7.0M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6545 | +0.115% | $58K | $31K | 20x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6563 | +0.184% | $3.2M | $4.4M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6566 | +0.195% | $595K | $271K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6579 | +0.244% | $2.9M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6562 | +0.180% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6561 | +0.176% | $22K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −0.3373% | 1h | 2.6574 | +0.226% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Variational Omni MORPHO
Phoenix MORPHO
Reya MORPHORUSDPERP
Binance MORPHOUSDT
Extended MORPHO-USD
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]