Funding you earn now, next payment 21:00 UTC+0.0288%/8h= +31.5% APRpaid last 24h +0.047%
Price spread now: Binance against Polymarket Perps−0.090%56s7-day average −0.039% · you buy dearer than you sell
Net, funding: paid 7d − costs−$24as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$440.444% of the position
Funding, last 7 days+0.202%+$20 on $10k
+Price spread, last 7 days+0.035%+$3 · spread now −0.090%, 7d avg −0.039%
=Funding pays, the price is against you. Binance is 0.050% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.090% now, against its 7-day average of −0.039%). If the spread goes back, that is −$5 on $10k: about 14 hours of funding at the current rate (+$9 a day). At the pace of the last 7 days (+0.202% in total) that is about 42 hours. The two prices were read 56 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 | Polymarket Perps MORPHO-USD | 2.7020 | −0.0188 | get 0.0023% / 1h | 29m 31s | $25K | $2.0M | 5x |
| Short | Binance MORPHOUSDT | 2.6996 | 0.0100 | get 0.0050% / 4h | 3h 29m | $16.6M | $26.9M | 75x |
Polymarket Perps MORPHO-USD
Binance MORPHOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Polymarket Perps. 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
- $60.4
- Price spread: −0.090% → −0.039%
- −$5.04
- Slippage, 4 orders
- −$26.42
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- $10.94
- Costs to cover
- 0.444%
- Break-even
- 5.7 days
Slippage from Polymarket Perps: live order book, 5 min ago; Binance: live order book, 2 min ago.
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 Polymarket Perps live order book, 5 min ago | 2.22 bp | 6.8 bp −$7 | 7.7 bp −$77 | doesn't fit | doesn't fit |
| Sell Binance live order book, 2 min ago | 1.67 bp | 13.8 bp −$14 | 36.9 bp −$369 | doesn't fit | doesn't fit |
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 | −0.1753% | 1h | 2.6984 | −0.134% | $85K | $152K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1081% | 1h | 2.7018 | −0.007% | $11K | $721 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0632% | 1h | 2.6955 | −0.241% | $886 | $12K | 5x | as long as short |
| Injective MORPHO/USDC PERP | −0.0425% | 1h | 2.7020 | 0.000% | $38 | $123K | 5.5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0248% | 4h | 2.7111 | +0.337% | $41K | $150K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0240% | 1h | 2.7048 | +0.104% | $78K | $47K | 25x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0206% | 4h | 2.7005 | −0.056% | $11K | $34K | 10x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.7010 | −0.037% | $655K | $219K | 20x | as long as short |
| Polymarket Perps MORPHO-USDlong | −0.0188% | 1h | 2.7020 | long leg | $25K | $2.0M | 5x | |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.7020 | +0.001% | $16 | — | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Injective MORPHO/USDC PERP
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
Orderly PERP_MORPHO_USDC
BloFin MORPHO-USDT
Reya MORPHORUSDPERPShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | +0.0054% | 4h | 2.7022 | +0.007% | $774K | $534K | 50x | as long as short |
| Phoenix MORPHO | +0.0059% | 1h | 2.7136 | +0.429% | $35K | $471K | 5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.7072 | +0.191% | $322K | $357K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.7011 | −0.033% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.7087 | +0.248% | $6.4M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.7017 | −0.013% | $59K | $33K | 20x | as long as short |
| Binance MORPHOUSDTshort | +0.0100% | 4h | 2.6996 | −0.090% | $16.6M | $26.9M | 75x | |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.7016 | −0.015% | $8.9M | $10.2M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6985 | −0.130% | $3.3M | $4.6M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.7010 | −0.037% | $5.2M | $1.1M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.7051 | +0.115% | $609K | $274K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.7017 | −0.011% | $3.0M | $2.0M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.7025 | +0.019% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.7065 | +0.165% | $658K | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.7013 | −0.026% | $23K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6999 | −0.076% | $105K | $305K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0193% / S −16.5420% | 1h | 2.7036 | +0.058% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Phoenix MORPHO
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]