Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against KuCoin+0.026%7-day average −0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs−$210as in the Funding arb table

Net, price: spread back to 7d avg − costs−$202as in the Price arb table

costs, in and out, $10k−$2112.108% of the position

Long on KuCoin Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 4 days (all we have)−0.021%−$2 · spread now +0.026%, 7d avg −0.063%

Together, before fees−0.012%−$1 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.089% dearer against KuCoin than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.063%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MORPHOUSDTM	2.6524	0.0100	pay 0.0050% / 4h	3h 43m	$594K	$266K	50x
Short	Bitget MORPHOUSDT	2.6531	0.0100	get 0.0050% / 4h	3h 43m	$2.9M	$1.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.026%Rate

Funding earned: $0
Price spread: +0.026% → −0.063%: $8.89
Slippage, 4 orders: −$186.85
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$201.96
Costs to cover: 2.108%
Break-even: never at this rate

Slippage from KuCoin: live order book, 10 min ago; Bitget: live order book, 4 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, 10 min ago	8.87 bp	62.5 bp −$62	172.0 bp −$1,720	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	6.05 bp	20.8 bp −$21	72.9 bp −$729	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
Kraken Futures PF_MORPHOUSD	−0.1835%	1h	2.6483	−0.156%	$80K	$132K	20x	as long as short
01 Exchange MORPHOUSD	−0.0472%	1h	2.6539	+0.057%	$872	$13K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0390%	1h	2.6535	+0.041%	$11K	$785	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0280%	1h	2.6554	+0.113%	$76K	$43K	25x	as long as short
Variational Omni MORPHO	−0.0242%	4h	2.6451	−0.276%	$628K	$1.0M	—	as long as short
BloFin MORPHO-USDT	−0.0191%	4h	2.6518	−0.023%	$639K	$229K	20x	as long as short
Polymarket Perps MORPHO-USD	−0.0166%	1h	2.6534	+0.038%	$28K	$1.7M	5x	as long as short
Orderly PERP_MORPHO_USDC	−0.0141%	4h	2.6519	−0.019%	$10K	$34K	10x	as long as short
Phoenix MORPHO	−0.0030%	1h	2.6525	+0.004%	$43K	$474K	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6532	+0.029%	$16	—	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	−0.354%	$37	$242K	5.5x	as long as short
GRVT MORPHO_USDT_Perp	+0.0064%	4h	2.6465	−0.223%	$41K	$133K	10x	as long as short
MEXC MORPHO_USDT	+0.0094%	4h	2.6522	−0.008%	$5.5M	$901K	100x	as long as short
Binance MORPHOUSDT	+0.0096%	4h	2.6525	+0.005%	$16.1M	$25.9M	75x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6603	+0.297%	$318K	$325K	5x	as long as short
Extended MORPHO-USD	+0.0096%	1h	2.6526	+0.008%	$108K	$414K	10x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6523	−0.004%	$5K	$3	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6530	+0.022%	$58K	$30K	20x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6516	−0.030%	$8.4M	$9.2M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6526	+0.008%	$3.2M	$4.5M	20x	as long as short
Gate MORPHO_USDT	+0.0100%	4h	2.6509	−0.057%	$767K	$516K	50x	as long as short
KuCoin MORPHOUSDTMlong	+0.0100%	4h	2.6524	long leg	$594K	$266K	50x
Bitget MORPHOUSDTshort	+0.0100%	4h	2.6531	+0.026%	$2.9M	$1.8M	75x
BingX MORPHO-USDT	+0.0100%	4h	2.6516	−0.030%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6530	+0.023%	$22K	$4K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0158% / S −0.3418%	1h	2.6545	+0.079%	$1K	—	100x	as long as short
Hyperliquid MORPHO	+0.0347%	1h	2.6598	+0.279%	$6.3M	$7.0M	5x	as long as short