Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0284%/8h= −31.1% APRpaid last 24h −0.060%

Price spread now: BloFin against Paradex+0.084%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Paradex Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread pays, funding is against you. BloFin is 0.084% dearer against Paradex than usual: you sell high and buy low (spread +0.084% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 24 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex MORPHO-USD-PERP	2.6490	0.0100	pay 0.0100% / 8h	6m 18s	$5K	$3	5x
Short	BloFin MORPHO-USDT	2.6512	−0.0184	pay 0.0092% / 4h	6m 18s	$638K	$253K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Paradex. 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 ParadexbpFee BloFinbpOrdersPrice spread, now +0.084%Rate

Funding earned: −$59.73
Price spread: +0.084% → 0.000%: $8.43
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$67.3
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; BloFin: live order book, 5 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 Paradex no order-book sample	—	—	—	—	—
Sell BloFin live order book, 5 min ago	0.19 bp	8.4 bp −$8	17.9 bp −$179	doesn't fit	doesn't fit

Paradex: 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	−0.1755%	1h	2.6488	−0.007%	$81K	$143K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1069%	1h	2.6495	+0.020%	$11K	$812	10x	as long as short
01 Exchange MORPHOUSD	−0.0848%	1h	2.6443	−0.176%	$869	$12K	5x	as long as short
Polymarket Perps MORPHO-USD	−0.0461%	1h	2.6499	+0.035%	$28K	$1.7M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0448%	4h	2.6519	+0.109%	$41K	$146K	10x	as long as short
Injective MORPHO/USDC PERP	−0.0405%	1h	2.6430	−0.225%	$37	$242K	5.5x	as long as short
Bybit MORPHOUSDT	−0.0368%	4h	2.6494	+0.016%	$8.4M	$9.3M	25x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0360%	1h	2.6546	+0.213%	$76K	$43K	25x	as long as short
Variational Omni MORPHO	−0.0201%	4h	2.6491	+0.007%	$630K	$1.0M	—	as long as short
BloFin MORPHO-USDTshort	−0.0184%	4h	2.6512	+0.084%	$638K	$253K	20x

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_MORPHO_USDC	−0.0145%	4h	2.6490	+0.001%	$10K	$34K	10x	as long as short
Gate MORPHO_USDT	−0.0070%	4h	2.6538	+0.182%	$770K	$533K	50x	as long as short
Phoenix MORPHO	−0.0060%	1h	2.6549	+0.224%	$44K	$477K	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6492	+0.009%	$16	—	10x	as long as short
MEXC MORPHO_USDT	+0.0054%	4h	2.6498	+0.031%	$5.5M	$961K	100x	as long as short
Binance MORPHOUSDT	+0.0055%	4h	2.6485	−0.017%	$16.0M	$26.0M	75x	as long as short
Extended MORPHO-USD	+0.0056%	1h	2.6479	−0.041%	$103K	$298K	10x	as long as short
Aster MORPHOUSDT	+0.0066%	4h	2.6512	+0.084%	$58K	$30K	20x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6543	+0.203%	$316K	$331K	5x	as long as short
Paradex MORPHO-USD-PERPlong	+0.0100%	8h	2.6490	long leg	$5K	$3	5x
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6500	+0.039%	$3.2M	$4.5M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6534	+0.167%	$594K	$267K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6532	+0.160%	$2.9M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6498	+0.031%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6495	+0.020%	$22K	$4K	5x	as long as short
Hyperliquid MORPHO	+0.0105%	1h	2.6573	+0.315%	$6.3M	$7.0M	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0158% / S −0.3418%	1h	2.6520	+0.115%	$1K	—	100x	as long as short