MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0375%/8h= −41.1% APRnext payment −$0.47 per $10,000 · paid last 24h −0.198%

Price spread now: Deribit against Polymarket Perps+0.064%48s7-day average — · you sell dearer than you buy

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

Long on Polymarket Perps Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Deribit is 0.064% dearer against Polymarket Perps than usual: you sell high and buy low (spread +0.064% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 14 hours. The two prices were read 48 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	2.6428	−0.0546	get 0.0068% / 1h	34m 37s	$26K	$1.7M	5x
Short	Deribit MORPHO_USDC-PERPETUAL	2.6445	−0.0921	pay 0.0115% / 1h	34m 37s	$11K	$812	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 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 Polymarket PerpsbpFee DeribitbpOrdersPrice spread, now +0.064%Rate

Funding earned: −$78.81
Price spread: +0.064% → 0.000%: $6.43
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$87.37
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Polymarket Perps: live order book, 4 min ago; Deribit: 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 Polymarket Perps live order book, 4 min ago	2.27 bp	6.4 bp −$6	6.9 bp −$69	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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	−0.1757%	1h	2.6460	+0.122%	$82K	$140K	20x	as long as short
Deribit MORPHO_USDC-PERPETUALshort	−0.0921%	1h	2.6445	+0.064%	$11K	$812	10x
01 Exchange MORPHOUSD	−0.0896%	1h	2.6360	−0.257%	$866	$12K	5x	as long as short
Polymarket Perps MORPHO-USDlong	−0.0546%	1h	2.6428	long leg	$26K	$1.7M	5x
GRVT MORPHO_USDT_Perp	−0.0536%	4h	2.6479	+0.194%	$29K	$134K	10x	as long as short
Injective MORPHO/USDC PERP	−0.0405%	1h	2.6430	+0.008%	$37	$242K	5.5x	as long as short
Bybit MORPHOUSDT	−0.0398%	4h	2.6450	+0.083%	$8.4M	$9.2M	25x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0360%	1h	2.6508	+0.303%	$76K	$43K	25x	as long as short
BloFin MORPHO-USDT	−0.0195%	4h	2.6445	+0.064%	$638K	$252K	20x	as long as short
Variational Omni MORPHO	−0.0145%	4h	2.6472	+0.166%	$629K	$1.0M	—	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_MORPHO_USDC	−0.0144%	4h	2.6443	+0.057%	$10K	$34K	10x	as long as short
Gate MORPHO_USDT	−0.0110%	4h	2.6472	+0.166%	$769K	$532K	50x	as long as short
Phoenix MORPHO	−0.0060%	1h	2.6522	+0.356%	$43K	$477K	5x	as long as short
Extended MORPHO-USD	−0.0008%	1h	2.6439	+0.042%	$103K	$298K	10x	as long as short
Binance MORPHOUSDT	−0.0005%	4h	2.6443	+0.057%	$16.0M	$25.9M	75x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6432	+0.017%	$16	—	10x	as long as short
MEXC MORPHO_USDT	−0.0004%	4h	2.6442	+0.053%	$5.5M	$948K	100x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6485	+0.214%	$315K	$331K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6422	−0.022%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6517	+0.338%	$6.2M	$7.0M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6491	+0.238%	$58K	$31K	20x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6437	+0.034%	$3.2M	$4.4M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6475	+0.178%	$593K	$270K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6462	+0.129%	$2.9M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6439	+0.042%	—	$1.5M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6445	+0.064%	$22K	$4K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0154% / S −0.2700%	1h	2.6471	+0.162%	$1K	—	100x	as long as short