Funding you earn now, next payment 20:00 UTC+0.0041%/8h= +4.4% APRpaid last 24h +0.033%
Price spread now: Aster against Phoenix+0.513%85s7-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
=Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Aster is 0.513% dearer against Phoenix than usual: you sell high and buy low: +$51 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 85 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MORPHO | 2.6762 | 0.0059 | pay 0.0007% / 1h | 6m 03s | $34K | $471K | 5x |
| Short | Aster MORPHOUSDT | 2.6899 | 0.0100 | get 0.0050% / 4h | 3h 06m | $59K | $33K | 20x |
Phoenix MORPHO
Aster MORPHOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Aster against Phoenix. 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
- $8.52
- Price spread: +0.513% → 0.000%
- $51.34
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Aster: 4 bp × 2 orders
- −$8
- Net
- $44.85
- Costs to cover
- 0.150%
- Break-even
- from the start
Slippage unknown: Phoenix: live order book, 21 min ago; Aster: 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 Phoenix live order book, 21 min ago | 1.11 bp | 13.0 bp −$13 | 52.2 bp −$522 | doesn't fit | doesn't fit |
| Sell Aster no order-book sample | — | — | — | — | — |
Aster: 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 | −0.1761% | 1h | 2.6863 | +0.377% | $84K | $152K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1272% | 1h | 2.6893 | +0.490% | $10K | $721 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0816% | 1h | 2.6875 | +0.422% | $883 | $12K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0530% | 4h | 2.6727 | −0.131% | $41K | $151K | 10x | as long as short |
| Injective MORPHO/USDC PERP | −0.0425% | 1h | 2.7020 | +0.964% | $38 | $123K | 5.5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0294% | 1h | 2.6893 | +0.490% | $25K | $2.0M | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0240% | 1h | 2.6893 | +0.490% | $78K | $47K | 25x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0208% | 4h | 2.6886 | +0.463% | $10K | $34K | 10x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6763 | +0.004% | $657K | $219K | 20x | as long as short |
| Bybit MORPHOUSDT | −0.0035% | 4h | 2.6917 | +0.579% | $8.9M | $10.2M | 25x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Injective MORPHO/USDC PERP
Polymarket Perps MORPHO-USD
Coinbase International MORPHO-PERP-INTX
Orderly PERP_MORPHO_USDC
BloFin MORPHO-USDT
Bybit MORPHOUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | −0.0034% | 4h | 2.6901 | +0.519% | $768K | $538K | 50x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6891 | +0.484% | $16 | — | 10x | as long as short |
| Phoenix MORPHOlong | +0.0059% | 1h | 2.6762 | long leg | $34K | $471K | 5x | |
| Lighter MORPHO | +0.0096% | 1h | 2.6933 | +0.639% | $321K | $357K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6888 | +0.469% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6950 | +0.702% | $6.4M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDTshort | +0.0100% | 4h | 2.6899 | +0.513% | $59K | $33K | 20x | |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6904 | +0.529% | $16.5M | $26.9M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6907 | +0.542% | $3.2M | $4.6M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6881 | +0.445% | $5.3M | $1.1M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6907 | +0.542% | $606K | $271K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6915 | +0.572% | $3.0M | $2.0M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6899 | +0.512% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6756 | −0.023% | $650K | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6889 | +0.475% | $23K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6880 | +0.442% | $104K | $305K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0193% / S −16.5420% | 1h | 2.6919 | +0.588% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Reya MORPHORUSDPERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Binance 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]