MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0300%/8h= −32.9% APRnext payment −$1.50 per $10,000 · paid last 24h −0.090%

Price spread now: BloFin against KuCoin−0.122%7-day average −0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$161as in the Funding arb table

Net, price: spread back to 7d avg − costs−$206as in the Price arb table

costs, in and out, $10k−$1981.983% of the position

Long on KuCoin Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.373%+$37 on $10k

Price spread, last 4 days (all we have)+0.039%+$4 · spread now −0.122%, 7d avg −0.047%

Together, before fees+0.412%+$41 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and BloFin is 0.076% cheaper against KuCoin than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.047%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.373%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MORPHOUSDTM	2.6175	0.0100	pay 0.0050% / 4h	1h 40m	$596K	$252K	50x
Short	BloFin MORPHO-USDT	2.6143	−0.0200	pay 0.0100% / 4h	1h 40m	$639K	$243K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.122%Rate

Funding earned: −$63
Price spread: −0.122% → −0.047%: −$7.57
Slippage, 4 orders: −$174.29
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$268.86
Costs to cover: 1.983%
Break-even: never at this rate

Slippage from KuCoin: live order book, 57 min ago; BloFin: live order book, 86 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, 57 min ago	10.32 bp	67.2 bp −$67	173.2 bp −$1,732	doesn't fit	doesn't fit
Sell BloFin live order book, 86 min ago	3.94 bp	12.1 bp −$12	23.5 bp −$235	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	−0.1679%	1h	2.6112	−0.241%	$81K	$128K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1011%	1h	2.6137	−0.145%	$11K	$955	10x	as long as short
01 Exchange MORPHOUSD	−0.0544%	1h	2.6142	−0.126%	$859	$9K	5x	as long as short
BloFin MORPHO-USDTshort	−0.0200%	4h	2.6143	−0.122%	$639K	$243K	20x
Coinbase International MORPHO-PERP-INTX	−0.0192%	1h	2.6327	+0.581%	$75K	$42K	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0157%	4h	2.6140	−0.134%	$10K	$34K	10x	as long as short
GRVT MORPHO_USDT_Perp	−0.0114%	4h	2.6163	−0.046%	$32K	$142K	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0079%	1h	2.6160	−0.057%	$25K	$1.8M	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6152	−0.087%	$16	—	10x	as long as short
Phoenix MORPHO	0.0000%	1h	2.6187	+0.046%	$43K	$392K	5x	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	+0.974%	$37	$242K	5.5x	as long as short
Gate MORPHO_USDT	+0.0036%	4h	2.6180	+0.019%	$755K	$503K	50x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6173	−0.008%	$314K	$308K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6175	−0.001%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6200	+0.096%	$6.1M	$7.0M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6161	−0.055%	$57K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6138	−0.142%	$15.8M	$25.7M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6175	0.000%	$8.3M	$9.4M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6178	+0.011%	$3.2M	$4.4M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6147	−0.107%	$5.8M	$840K	100x	as long as short
KuCoin MORPHOUSDTMlong	+0.0100%	4h	2.6175	long leg	$596K	$252K	50x
Bitget MORPHOUSDT	+0.0100%	4h	2.6183	+0.031%	$2.8M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6176	+0.004%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6155	−0.077%	$624K	$907K	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6133	−0.160%	$21K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6148	−0.104%	$101K	$350K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0186% / S −15.6829%	1h	2.6174	−0.004%	$1K	—	100x	as long as short