Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0253%/8h= −27.7% APRpaid last 24h −0.065%

Price spread now: Orderly against Paradex+0.167%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 Orderly

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. Orderly is 0.167% dearer against Paradex than usual: you sell high and buy low (spread +0.167% now, against zero (this spread has no 7-day history yet)): +$17 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex MORPHO-USD-PERP	2.6074	0.0100	pay 0.0100% / 8h	4h 52m	$5K	$3	5x
Short	Orderly PERP_MORPHO_USDC	2.6118	−0.0153	pay 0.0077% / 4h	52m 28s	$10K	$34K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.167%Rate

Funding earned: −$53.21
Price spread: +0.167% → 0.000%: $16.72
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$46.48
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

Paradex and 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	−0.1661%	1h	2.6086	+0.043%	$81K	$128K	20x	as long as short
01 Exchange MORPHOUSD	−0.0800%	1h	2.6033	−0.159%	$855	$9K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0782%	1h	2.6130	+0.213%	$11K	$759	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0248%	1h	2.6092	+0.068%	$25K	$1.7M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0232%	4h	2.6112	+0.144%	$32K	$142K	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0224%	1h	2.6172	+0.374%	$75K	$42K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6112	+0.144%	$638K	$239K	20x	as long as short
Orderly PERP_MORPHO_USDCshort	−0.0153%	4h	2.6118	+0.167%	$10K	$34K	10x
Reya MORPHORUSDPERP	−0.0005%	1h	2.6088	+0.054%	$16	—	10x	as long as short
Phoenix MORPHO	0.0000%	1h	2.6144	+0.267%	$43K	$370K	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	+0.0010%	4h	2.6149	+0.286%	$757K	$478K	50x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+1.364%	$37	$242K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6124	+0.191%	$314K	$309K	5x	as long as short
Paradex MORPHO-USD-PERPlong	+0.0100%	8h	2.6074	long leg	$5K	$3	5x
Hyperliquid MORPHO	+0.0100%	1h	2.6155	+0.309%	$6.1M	$6.9M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6134	+0.230%	$57K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6078	+0.014%	$15.7M	$25.3M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6097	+0.087%	$8.2M	$9.2M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6104	+0.114%	$3.2M	$4.3M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6088	+0.052%	$5.8M	$788K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6141	+0.255%	$594K	$251K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6123	+0.186%	$2.8M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6133	+0.225%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6166	+0.350%	$623K	$847K	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6119	+0.171%	$21K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6067	−0.029%	$100K	$350K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0186% / S −15.6829%	1h	2.6144	+0.267%	$1K	—	100x	as long as short