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 +0.002%

Price spread now: KuCoin against MEXC+0.156%7-day average +0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs−$165as in the Funding arb table

Net, price: spread back to 7d avg − costs−$156as in the Price arb table

costs, in and out, $10k−$1651.654% of the position

Long on MEXC Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 4 days (all we have)−0.267%−$27 · spread now +0.156%, 7d avg +0.060%

Together, before fees−0.259%−$26 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: KuCoin is 0.096% dearer against MEXC than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.060%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC MORPHO_USDT	2.6261	0.0100	pay 0.0050% / 4h	1h 14m	$5.8M	$844K	100x
Short	KuCoin MORPHOUSDTM	2.6302	0.0100	get 0.0050% / 4h	1h 14m	$597K	$252K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.156%Rate

Funding earned: $0
Price spread: +0.156% → +0.060%: $9.61
Slippage, 4 orders: −$149.39
Fee MEXC: 2 bp × 2 orders: −$4
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$155.78
Costs to cover: 1.654%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; KuCoin: live order book, 9 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, 3 min ago	0.76 bp	6.4 bp −$6	48.0 bp −$480	178.5 bp −$17.8K	doesn't fit
Sell KuCoin live order book, 9 min ago	4.94 bp	90.7 bp −$91	148.8 bp −$1,488	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	−0.1670%	1h	2.6244	−0.063%	$82K	$127K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1080%	1h	2.6281	+0.076%	$11K	$759	10x	as long as short
01 Exchange MORPHOUSD	−0.0672%	1h	2.6230	−0.118%	$862	$9K	5x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6280	+0.072%	$602K	$241K	20x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0192%	1h	2.6345	+0.320%	$75K	$42K	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0158%	4h	2.6273	+0.046%	$10K	$34K	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0154%	1h	2.6286	+0.095%	$25K	$1.7M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0146%	4h	2.6310	+0.186%	$32K	$142K	10x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.6284	+0.086%	$16	—	10x	as long as short
Phoenix MORPHO	0.0000%	1h	2.6313	+0.198%	$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
Gate MORPHO_USDT	+0.0012%	4h	2.6284	+0.088%	$759K	$505K	50x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+0.644%	$37	$242K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6272	+0.040%	$315K	$308K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6257	−0.017%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6316	+0.209%	$6.2M	$6.9M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6270	+0.036%	$58K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6258	−0.012%	$15.8M	$25.4M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6273	+0.046%	$8.3M	$9.2M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6270	+0.034%	$3.2M	$4.3M	20x	as long as short
MEXC MORPHO_USDTlong	+0.0100%	4h	2.6261	long leg	$5.8M	$844K	100x
KuCoin MORPHOUSDTMshort	+0.0100%	4h	2.6302	+0.156%	$597K	$252K	50x
Bitget MORPHOUSDT	+0.0100%	4h	2.6284	+0.088%	$2.8M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6273	+0.046%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6310	+0.186%	$627K	$848K	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6283	+0.084%	$22K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6253	−0.032%	$101K	$350K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0186% / S −15.6829%	1h	2.6302	+0.155%	$1K	—	100x	as long as short