Funding you earn now, next payment 04:00 UTC+0.0257%/8h= +28.1% APRnext payment +$1.28 per $10,000 · paid last 24h +0.063%
Price spread now: Binance against Orderly−0.008%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$8 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_MORPHO_USDC | 2.6094 | −0.0157 | get 0.0078% / 4h | 1h 45m | $10K | $34K | 10x |
| Short | Binance MORPHOUSDT | 2.6092 | 0.0100 | get 0.0050% / 4h | 1h 45m | $15.7M | $25.7M | 75x |
Orderly PERP_MORPHO_USDC
Binance MORPHOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Orderly. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $53.95
- Price spread: −0.008% → 0.000%
- −$0.77
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- $37.19
- Costs to cover
- 0.160%
- Break-even
- 2.2 days
Slippage unknown: Orderly: no order-book sample; Binance: live order book, 11 min ago. Net counts fees only.
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 Orderly no order-book sample | — | — | — | — | — |
| Sell Binance live order book, 11 min ago | 1.14 bp | 18.9 bp −$19 | 48.0 bp −$480 | doesn't fit | doesn't fit |
Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.1681% | 1h | 2.6071 | −0.088% | $81K | $128K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1127% | 1h | 2.6107 | +0.050% | $11K | $955 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0504% | 1h | 2.6036 | −0.222% | $856 | $9K | 5x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6064 | −0.115% | — | $242K | 20x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0192% | 1h | 2.6327 | +0.893% | $75K | $42K | 25x | as long as short |
| Orderly PERP_MORPHO_USDClong | −0.0157% | 4h | 2.6094 | long leg | $10K | $34K | 10x | |
| GRVT MORPHO_USDT_Perp | −0.0084% | 4h | 2.6265 | +0.655% | $32K | $142K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0076% | 1h | 2.6098 | +0.015% | $25K | $1.8M | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6093 | −0.002% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | 0.0000% | 1h | 2.6207 | +0.433% | $43K | $392K | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
BloFin MORPHO-USDT
Coinbase International MORPHO-PERP-INTX
GRVT MORPHO_USDT_Perp
Polymarket Perps MORPHO-USD
Reya MORPHORUSDPERP
Phoenix MORPHOShow 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 | +1.288% | $37 | $242K | 5.5x | as long as short |
| Gate MORPHO_USDT | +0.0038% | 4h | 2.6078 | −0.061% | $752K | $503K | 50x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6124 | +0.117% | $313K | $308K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6113 | +0.071% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6128 | +0.130% | $6.1M | $7.0M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6115 | +0.081% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDTshort | +0.0100% | 4h | 2.6092 | −0.008% | $15.7M | $25.7M | 75x | |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6116 | +0.084% | $8.3M | $9.4M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6142 | +0.184% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6082 | −0.046% | $5.8M | $839K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6119 | +0.096% | $594K | $254K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6104 | +0.038% | $2.8M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6123 | +0.111% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6105 | +0.044% | $622K | $907K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6099 | +0.019% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6090 | −0.015% | $101K | $350K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6114 | +0.076% | $1K | — | 100x | as long as short |
Injective MORPHO/USDC PERP
Gate MORPHO_USDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]