MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0664%/8h= −72.7% APRnext payment −$3.32 per $10,000 · paid last 24h −0.042%

Price spread now: GRVT against KuCoin−0.098%7-day average −0.086% · you buy dearer than you sell

Net, funding: paid 7d − costs−$234as in the Funding arb table

Net, price: spread back to 7d avg − costs−$198as in the Price arb table

costs, in and out, $10k−$1971.968% of the position

Long on KuCoin Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.369%−$37 on $10k

Price spread, last 3 days (all we have)+0.134%+$13 · spread now −0.098%, 7d avg −0.086%

Together, before fees−0.235%+ Points / potential airdropGRVT: Active · farm board−$24 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.086%, so right now this pair is about funding alone: −$20 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.369% in total (about -19.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.32 per $10,000. 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	KuCoin MORPHOUSDTM	2.6452	0.0100	pay 0.0050% / 4h	1h 12m	$591K	$269K	50x
Short	GRVT MORPHO_USDT_Perp	2.6426	−0.0564	pay 0.0282% / 4h	1h 12m	$29K	$134K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.098%Rate

Funding earned: −$139.44
Price spread: −0.098% → −0.086%: −$1.22
Slippage, 4 orders: −$175.81
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$337.47
Costs to cover: 1.968%
Break-even: never at this rate

Slippage from KuCoin: live order book, 60 min ago; GRVT: 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, 60 min ago	9.24 bp	61.4 bp −$61	176.1 bp −$1,761	doesn't fit	doesn't fit
Sell GRVT live order book, 4 min ago	1.51 bp	26.5 bp −$27	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	−0.1858%	1h	2.6417	−0.133%	$81K	$151K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1375%	1h	2.6416	−0.136%	$11K	$812	10x	as long as short
01 Exchange MORPHOUSD	−0.1168%	1h	2.6350	−0.386%	$866	$13K	5x	as long as short
Polymarket Perps MORPHO-USD	−0.0703%	1h	2.6413	−0.147%	$24K	$1.7M	5x	as long as short
GRVT MORPHO_USDT_Perpshort	−0.0564%	4h	2.6426	−0.098%	$29K	$134K	10x
Bybit MORPHOUSDT	−0.0452%	4h	2.6440	−0.045%	$8.5M	$9.3M	25x	as long as short
Injective MORPHO/USDC PERP	−0.0337%	1h	2.6430	−0.083%	$37	$242K	5.5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0312%	1h	2.6469	+0.064%	$76K	$43K	25x	as long as short
BloFin MORPHO-USDT	−0.0207%	4h	2.6438	−0.053%	$639K	$249K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0147%	4h	2.6414	−0.144%	$10K	$34K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MORPHO_USDT	−0.0136%	4h	2.6417	−0.132%	$767K	$533K	50x	as long as short
Phoenix MORPHO	−0.0090%	1h	2.6439	−0.049%	$43K	$484K	5x	as long as short
Variational Omni MORPHO	−0.0062%	4h	2.6437	−0.058%	$629K	$1.2M	—	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6418	−0.130%	$16	—	10x	as long as short
Binance MORPHOUSDT	+0.0031%	4h	2.6419	−0.125%	$16.1M	$25.8M	75x	as long as short
Extended MORPHO-USD	+0.0032%	1h	2.6407	−0.171%	$103K	$301K	10x	as long as short
MEXC MORPHO_USDT	+0.0032%	4h	2.6410	−0.159%	$5.4M	$1.1M	100x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6457	+0.019%	$315K	$334K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6409	−0.163%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6484	+0.121%	$6.2M	$7.1M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6419	−0.123%	$58K	$31K	20x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6448	−0.015%	$3.2M	$4.4M	20x	as long as short
KuCoin MORPHOUSDTMlong	+0.0100%	4h	2.6452	long leg	$591K	$269K	50x
Bitget MORPHOUSDT	+0.0100%	4h	2.6429	−0.087%	$2.9M	$1.9M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6432	−0.076%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6424	−0.106%	$22K	$4K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0188% / S −0.3377%	1h	2.6448	−0.015%	$1K	—	100x	as long as short