MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0094%/8h= −10.3% APRnext payment −$0.47 per $10,000 · paid last 24h −0.002%

Price spread now: Binance against KuCoin−0.214%7-day average −0.066% · you buy dearer than you sell

Net, funding: paid 7d − costs−$174as in the Funding arb table

Net, price: spread back to 7d avg − costs−$189as in the Price arb table

costs, in and out, $10k−$1741.740% of the position

Long on KuCoin Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 4 days (all we have)+0.247%+$25 · spread now −0.214%, 7d avg −0.066%

Together, before fees+0.243%+$24 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Binance is 0.148% cheaper against KuCoin than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.066%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MORPHOUSDTM	2.5928	0.0100	pay 0.0050% / 4h	52m 42s	$590K	$261K	50x
Short	Binance MORPHOUSDT	2.5872	0.0006	get 0.0003% / 4h	52m 42s	$15.6M	$24.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee KuCoinbpFee BinancebpOrdersPrice spread, now −0.214%Rate

Funding earned: −$19.78
Price spread: −0.214% → −0.066%: −$14.85
Slippage, 4 orders: −$151.97
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$208.59
Costs to cover: 1.740%
Break-even: never at this rate

Slippage from KuCoin: live order book, 52 min ago; Binance: live order book, 3 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 KuCoin live order book, 52 min ago	8.07 bp	54.1 bp −$54	152.6 bp −$1,526	doesn't fit	doesn't fit
Sell Binance live order book, 3 min ago	0.77 bp	15.1 bp −$15	42.6 bp −$426	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
Deribit MORPHO_USDC-PERPETUAL	−0.1717%	1h	2.5875	−0.204%	$11K	$2K	10x	as long as short
01 Exchange MORPHOUSD	−0.1488%	1h	2.5831	−0.374%	$849	$9K	5x	as long as short
Kraken Futures PF_MORPHOUSD	−0.1233%	1h	2.5875	−0.205%	$84K	$134K	20x	as long as short
GRVT MORPHO_USDT_Perp	−0.0568%	4h	2.5889	−0.150%	$30K	$134K	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0496%	1h	2.5918	−0.039%	$72K	$38K	25x	as long as short
Bybit MORPHOUSDT	−0.0428%	4h	2.5903	−0.096%	$7.9M	$8.6M	25x	as long as short
Polymarket Perps MORPHO-USD	−0.0420%	1h	2.5918	−0.039%	$27K	$1.4M	5x	as long as short
BloFin MORPHO-USDT	−0.0232%	4h	2.5901	−0.104%	$638K	$240K	20x	as long as short
Variational Omni MORPHO	−0.0212%	4h	2.5850	−0.300%	$616K	$677K	—	as long as short
Phoenix MORPHO	−0.0185%	1h	2.5900	−0.108%	$33K	$336K	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_MORPHO_USDC	−0.0171%	4h	2.5891	−0.143%	$10K	$34K	10x	as long as short
Gate MORPHO_USDT	−0.0044%	4h	2.5894	−0.131%	$759K	$502K	50x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.5904	−0.094%	$16	—	10x	as long as short
Binance MORPHOUSDTshort	+0.0006%	4h	2.5872	−0.214%	$15.6M	$24.6M	75x
MEXC MORPHO_USDT	+0.0006%	4h	2.5874	−0.208%	$6.3M	$902K	100x	as long as short
Extended MORPHO-USD	+0.0008%	1h	2.5865	−0.243%	$99K	$342K	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+1.936%	$37	$242K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	2.5928	+0.001%	$312K	$287K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.5861	−0.259%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.5929	+0.004%	$5.9M	$7.0M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.5881	−0.182%	$58K	$44K	20x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.5882	−0.177%	$3.2M	$4.2M	20x	as long as short
KuCoin MORPHOUSDTMlong	+0.0100%	4h	2.5928	long leg	$590K	$261K	50x
Bitget MORPHOUSDT	+0.0100%	4h	2.5904	−0.093%	$2.8M	$1.7M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.5881	−0.181%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.5886	−0.162%	$21K	$4K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0186% / S −15.6829%	1h	2.5921	−0.026%	$1K	—	100x	as long as short