Funding you earn now, next payment 21:00 UTC+0.0288%/8h= +31.5% APRpaid last 24h +0.038%
Price spread now: Bybit against Polymarket Perps+0.078%7-day average +0.051% · you sell dearer than you buy
Net, funding: paid 7d − costs−$36as in the Funding arb table
Net, price: spread back to 7d avg − costs−$51as in the Price arb table
costs, in and out, $10k−$530.534% of the position
Funding, last 7 days+0.177%+$18 on $10k
+Price spread, last 7 days+0.003%$0 · spread now +0.078%, 7d avg +0.051%
=Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Bybit is 0.027% dearer against Polymarket Perps than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.051%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.177% in total (about 9.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| 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 | 30m 05s | $25K | $2.0M | 5x |
| Short | Bybit MORPHOUSDT | 2.7041 | 0.0100 | get 0.0050% / 4h | 3h 30m | $8.9M | $10.2M | 25x |
Polymarket Perps MORPHO-USD
Bybit MORPHOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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: +0.078% → +0.051%
- $2.66
- Slippage, 4 orders
- −$34.44
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $9.62
- Costs to cover
- 0.534%
- Break-even
- 5.9 days
Slippage from Polymarket Perps: live order book, 4 min ago; Bybit: live order book, 4 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, 4 min ago | 2.22 bp | 6.8 bp −$7 | 7.7 bp −$77 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 4 min ago | 1.85 bp | 21.8 bp −$22 | 77.3 bp −$773 | 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 | −0.0624% | 1h | 2.6987 | −0.122% | $887 | $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 | +0.0058% | 4h | 2.7024 | +0.015% | $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 | 2.7077 | +0.211% | $322K | $357K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.7019 | −0.004% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.7081 | +0.226% | $6.4M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.7018 | −0.006% | $59K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.7003 | −0.061% | $16.6M | $26.9M | 75x | as long as short |
| Bybit MORPHOUSDTshort | +0.0100% | 4h | 2.7041 | +0.078% | $8.9M | $10.2M | 25x | |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.7034 | +0.052% | $3.3M | $4.6M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.7005 | −0.056% | $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 | 2.7003 | −0.061% | $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
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]