MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0062%/8h= −6.8% APRnext payment −$0.31 per $10,000 · paid last 24h −0.075%

Price spread now: Gate against MEXC−0.130%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs−$123as in the Funding arb table

Net, price: spread back to 7d avg − costs−$115as in the Price arb table

costs, in and out, $10k−$1021.020% of the position

Long on MEXC Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.211%−$21 on $10k

Price spread, last 4 days (all we have)+0.114%+$11 · spread now −0.130%, 7d avg 0.000%

Together, before fees−0.097%−$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Gate is 0.130% cheaper against MEXC than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of 0.000%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC MORPHO_USDT	2.6134	0.0100	pay 0.0050% / 4h	1h 45m	$5.8M	$839K	100x
Short	Gate MORPHO_USDT	2.6100	0.0038	get 0.0019% / 4h	1h 45m	$753K	$503K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against MEXC. 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 MEXCbpFee GatebpOrdersPrice spread, now −0.130%Rate

Funding earned: −$13.02
Price spread: −0.130% → 0.000%: −$12.96
Slippage, 4 orders: −$83.01
Fee MEXC: 2 bp × 2 orders: −$4
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$127.99
Costs to cover: 1.020%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; Gate: live order book, 16 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 MEXC live order book, 2 min ago	2.11 bp	8.1 bp −$8	37.4 bp −$374	195.8 bp −$19.6K	doesn't fit
Sell Gate live order book, 16 min ago	7.05 bp	41.2 bp −$41	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	−0.1678%	1h	2.6117	−0.066%	$81K	$128K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1126%	1h	2.6130	−0.015%	$11K	$955	10x	as long as short
01 Exchange MORPHOUSD	−0.0528%	1h	2.6089	−0.172%	$857	$9K	5x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6128	−0.023%	$638K	$242K	20x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0192%	1h	2.6327	+0.739%	$75K	$42K	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0157%	4h	2.6125	−0.034%	$10K	$34K	10x	as long as short
GRVT MORPHO_USDT_Perp	−0.0120%	4h	2.6077	−0.218%	$32K	$142K	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0070%	1h	2.6140	+0.023%	$25K	$1.8M	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6136	+0.009%	$16	—	10x	as long as short
Phoenix MORPHO	0.0000%	1h	2.6097	−0.142%	$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	+1.133%	$37	$242K	5.5x	as long as short
Gate MORPHO_USDTshort	+0.0038%	4h	2.6100	−0.130%	$753K	$503K	50x
Lighter MORPHO	+0.0096%	1h	2.6139	+0.018%	$313K	$308K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6113	−0.082%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6180	+0.176%	$6.1M	$7.0M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6128	−0.023%	$57K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6136	+0.008%	$15.8M	$25.7M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6146	+0.046%	$8.3M	$9.4M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6159	+0.096%	$3.2M	$4.3M	20x	as long as short
MEXC MORPHO_USDTlong	+0.0100%	4h	2.6134	long leg	$5.8M	$839K	100x
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6132	−0.008%	$595K	$254K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6142	+0.031%	$2.8M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6124	−0.038%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6105	−0.109%	$622K	$907K	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6134	0.000%	$21K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6119	−0.057%	$101K	$350K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0186% / S −15.6829%	1h	2.6152	+0.069%	$1K	—	100x	as long as short