Funding you earn now, next payment 00:00 UTC−0.0457%/8h= −50.0% APRnext payment −$2.28 per $10,000 · paid last 24h +0.056%
Price spread now: Bybit against Orderly+0.011%7-day average — · you sell dearer than you buy
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: −$14 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 | 2.6437 | −0.0154 | get 0.0077% / 4h | 1h 38m | $10K | $34K | 10x |
| Short | Bybit MORPHOUSDT | 2.6440 | −0.0611 | pay 0.0305% / 4h | 1h 38m | $8.5M | $9.4M | 25x |
Orderly PERP_MORPHO_USDC
Bybit MORPHOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$95.93
- Price spread: +0.011% → 0.000%
- $1.13
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$111.79
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Bybit: live order book, 4 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 Bybit live order book, 4 min ago | 1.89 bp | 16.2 bp −$16 | 73.6 bp −$736 | 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 | −0.1857% | 1h | 2.6429 | −0.032% | $82K | $150K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1261% | 1h | 2.6433 | −0.015% | $11K | $911 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.1152% | 1h | 2.6352 | −0.322% | $866 | $13K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0639% | 1h | 2.6422 | −0.057% | $26K | $1.7M | 5x | as long as short |
| Bybit MORPHOUSDTshort | −0.0611% | 4h | 2.6440 | +0.011% | $8.5M | $9.4M | 25x | |
| GRVT MORPHO_USDT_Perp | −0.0576% | 4h | 2.6444 | +0.027% | $29K | $146K | 10x | as long as short |
| Injective MORPHO/USDC PERP | −0.0337% | 1h | 2.6430 | −0.026% | $37 | $242K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0312% | 1h | 2.6427 | −0.038% | $76K | $43K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0206% | 4h | 2.6412 | −0.095% | $640K | $244K | 20x | as long as short |
| Gate MORPHO_USDT | −0.0162% | 4h | 2.6473 | +0.136% | $771K | $530K | 50x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Gate MORPHO_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_MORPHO_USDClong | −0.0154% | 4h | 2.6437 | long leg | $10K | $34K | 10x | |
| Phoenix MORPHO | −0.0090% | 1h | 2.6514 | +0.291% | $34K | $484K | 5x | as long as short |
| Variational Omni MORPHO | −0.0040% | 4h | 2.6477 | +0.151% | $629K | $1.2M | — | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6430 | −0.028% | $16 | — | 10x | as long as short |
| Binance MORPHOUSDT | +0.0079% | 4h | 2.6424 | −0.049% | $16.1M | $26.0M | 75x | as long as short |
| Extended MORPHO-USD | +0.0080% | 1h | 2.6420 | −0.066% | $103K | $301K | 10x | as long as short |
| MEXC MORPHO_USDT | +0.0082% | 4h | 2.6425 | −0.045% | $5.2M | $1.1M | 100x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6475 | +0.142% | $315K | $333K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6415 | −0.085% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6491 | +0.204% | $6.2M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6464 | +0.102% | $58K | $33K | 20x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6427 | −0.038% | $3.2M | $4.4M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6451 | +0.053% | $618K | $263K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6432 | −0.019% | $2.9M | $1.9M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6436 | −0.004% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6426 | −0.042% | $22K | $3K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6468 | +0.118% | $1K | — | 100x | as long as short |
Phoenix MORPHO
Variational Omni MORPHO
Reya MORPHORUSDPERP
Binance MORPHOUSDT
Extended MORPHO-USD
MEXC MORPHO_USDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]