MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0196%/8h= −21.5% APRnext payment −$0.98 per $10,000 · paid last 24h −0.086%

Price spread now: Gate against KuCoin−0.034%7-day average −0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs−$290as in the Funding arb table

Net, price: spread back to 7d avg − costs−$266as in the Price arb table

costs, in and out, $10k−$2692.689% of the position

Long on KuCoin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.210%−$21 on $10k

Price spread, last 4 days (all we have)+0.081%+$8 · spread now −0.034%, 7d avg −0.062%

Together, before fees−0.129%−$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.028% dearer against KuCoin than usual: you sell high and buy low (spread −0.034% now, against its 7-day average of −0.062%): +$3 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MORPHOUSDTM	2.6600	0.0100	pay 0.0050% / 4h	2h 15m	$623K	$269K	50x
Short	Gate MORPHO_USDT	2.6591	−0.0096	pay 0.0048% / 4h	2h 15m	$774K	$529K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.034%Rate

Funding earned: −$41.16
Price spread: −0.034% → −0.062%: $2.79
Slippage, 4 orders: −$241.87
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$307.25
Costs to cover: 2.689%
Break-even: never at this rate

Slippage from KuCoin: live order book, 67 min ago; Gate: live order book, 6 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, 67 min ago	13.94 bp	65.8 bp −$66	203.9 bp −$2,039	doesn't fit	doesn't fit
Sell Gate live order book, 6 min ago	7.33 bp	48.4 bp −$48	doesn't fit	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	−0.2050%	1h	2.6589	−0.043%	$83K	$148K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1440%	1h	2.6588	−0.045%	$11K	$911	10x	as long as short
01 Exchange MORPHOUSD	−0.0848%	1h	2.6526	−0.278%	$872	$12K	5x	as long as short
Polymarket Perps MORPHO-USD	−0.0392%	1h	2.6584	−0.060%	$26K	$1.8M	5x	as long as short
Injective MORPHO/USDC PERP	−0.0385%	1h	2.6610	+0.038%	$37	$198K	5.5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0334%	4h	2.6613	+0.048%	$30K	$154K	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0296%	1h	2.6617	+0.064%	$77K	$46K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6592	−0.030%	$644K	$223K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0170%	4h	2.6586	−0.053%	$10K	$34K	10x	as long as short
Bybit MORPHOUSDT	−0.0138%	4h	2.6590	−0.038%	$8.6M	$9.9M	25x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MORPHO_USDTshort	−0.0096%	4h	2.6591	−0.034%	$774K	$529K	50x
Phoenix MORPHO	−0.0030%	1h	2.6655	+0.207%	$34K	$493K	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6595	−0.018%	$16	—	10x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6627	+0.102%	$317K	$336K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6561	−0.146%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6634	+0.128%	$6.3M	$7.2M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6588	−0.045%	$58K	$33K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6573	−0.101%	$16.3M	$26.7M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6590	−0.038%	$3.2M	$4.5M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6572	−0.105%	$5.5M	$1.2M	100x	as long as short
KuCoin MORPHOUSDTMlong	+0.0100%	4h	2.6600	long leg	$623K	$269K	50x
Bitget MORPHOUSDT	+0.0100%	4h	2.6584	−0.060%	$2.9M	$1.9M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6609	+0.034%	—	$1.5M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6639	+0.145%	$647K	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6591	−0.034%	$22K	$3K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6570	−0.114%	$103K	$301K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0188% / S −12.8197%	1h	2.6615	+0.058%	$1K	—	100x	as long as short