Funding you earn now, next payment 03:00 UTC−0.0003%/8h= −0.4% APRpaid last 24h +0.015%
Price spread now: Orderly against Polymarket Perps−0.076%7-day average — · you buy dearer than you sell
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
=Together, before fees—needs both histories
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.076% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$8 on $10k if it goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Polymarket Perps MORPHO-USD | 2.6298 | −0.0153 | get 0.0019% / 1h | 19m 01s | $25K | $1.7M | 5x |
| Short | Orderly PERP_MORPHO_USDC | 2.6278 | −0.0157 | pay 0.0078% / 4h | 1h 19m | $10K | $34K | 10x |
Polymarket Perps MORPHO-USD
Orderly PERP_MORPHO_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$0.68
- Price spread: −0.076% → 0.000%
- −$7.61
- Slippage, 4 orders
- no order book: not counted
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$22.29
- Costs to cover
- 0.140%
- Break-even
- never at this rate
Slippage unknown: Polymarket Perps: live order book, 5 min ago; 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 Polymarket Perps live order book, 5 min ago | 1.90 bp | 8.5 bp −$9 | 8.7 bp −$87 | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
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 | −0.1670% | 1h | 2.6243 | −0.210% | $82K | $127K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1042% | 1h | 2.6278 | −0.076% | $11K | $759 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0656% | 1h | 2.6262 | −0.137% | $863 | $9K | 5x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6264 | −0.129% | $637K | $243K | 20x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0192% | 1h | 2.6345 | +0.179% | $75K | $42K | 25x | as long as short |
| Orderly PERP_MORPHO_USDCshort | −0.0157% | 4h | 2.6278 | −0.076% | $10K | $34K | 10x | |
| Polymarket Perps MORPHO-USDlong | −0.0153% | 1h | 2.6298 | long leg | $25K | $1.7M | 5x | |
| GRVT MORPHO_USDT_Perp | −0.0130% | 4h | 2.6293 | −0.020% | $32K | $142K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.6298 | −0.002% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | 0.0000% | 1h | 2.6313 | +0.057% | $43K | $392K | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
BloFin MORPHO-USDT
Coinbase International MORPHO-PERP-INTX
GRVT MORPHO_USDT_Perp
Reya MORPHORUSDPERP
Phoenix MORPHOShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +0.502% | $37 | $242K | 5.5x | as long as short |
| Gate MORPHO_USDT | +0.0044% | 4h | 2.6293 | −0.019% | $757K | $504K | 50x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6302 | +0.015% | $315K | $308K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6286 | −0.046% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6328 | +0.114% | $6.2M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6292 | −0.022% | $58K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6266 | −0.122% | $15.8M | $25.3M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6295 | −0.011% | $8.3M | $9.3M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6298 | 0.000% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6264 | −0.129% | $5.8M | $841K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6319 | +0.080% | $598K | $251K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6291 | −0.027% | $2.8M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6313 | +0.057% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6345 | +0.179% | $628K | $848K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6270 | −0.106% | $22K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6273 | −0.094% | $101K | $353K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6316 | +0.069% | $1K | — | 100x | as long as short |
Injective MORPHO/USDC PERP
Gate MORPHO_USDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance 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]