Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0129%/8h= +14.2% APRpaid last 24h +0.075%

Price spread now: Paradex against Polymarket Perps−0.228%7-day average — · you buy dearer than you sell

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

Long on Polymarket Perps Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.228% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.228% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$23 on $10k: about 5.9 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps MORPHO-USD	2.6600	−0.0029	get 0.0004% / 1h	17m 47s	$24K	$1.7M	5x
Short	Paradex MORPHO-USD-PERP	2.6539	0.0100	get 0.0100% / 8h	7h 17m	$5K	$3	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.228%Rate

Funding earned: $27.15
Price spread: −0.228% → 0.000%: −$22.79
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$7.64
Costs to cover: 0.120%
Break-even: 9.0 days

Slippage unknown: Polymarket Perps: live order book, 1 min ago; Paradex: 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, 1 min ago	2.63 bp	6.9 bp −$7	8.9 bp −$89	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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	−0.1827%	1h	2.6599	−0.003%	$80K	$132K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0538%	1h	2.6629	+0.109%	$11K	$785	10x	as long as short
01 Exchange MORPHOUSD	−0.0456%	1h	2.6519	−0.305%	$871	$13K	5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0280%	1h	2.6635	+0.132%	$76K	$43K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6586	−0.053%	$642K	$229K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0146%	4h	2.6612	+0.045%	$10K	$34K	10x	as long as short
Variational Omni MORPHO	−0.0112%	4h	2.6621	+0.077%	$634K	$1.0M	—	as long as short
Phoenix MORPHO	−0.0030%	1h	2.6643	+0.162%	$44K	$474K	5x	as long as short
Polymarket Perps MORPHO-USDlong	−0.0029%	1h	2.6600	long leg	$24K	$1.7M	5x
GRVT MORPHO_USDT_Perp	−0.0016%	4h	2.6605	+0.018%	$41K	$133K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya MORPHORUSDPERP	−0.0004%	1h	2.6598	−0.007%	$16	—	10x	as long as short
Gate MORPHO_USDT	+0.0032%	4h	2.6655	+0.207%	$770K	$524K	50x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	−0.639%	$37	$242K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6754	+0.578%	$320K	$325K	5x	as long as short
Paradex MORPHO-USD-PERPshort	+0.0100%	8h	2.6539	−0.228%	$5K	$3	5x
Aster MORPHOUSDT	+0.0100%	4h	2.6657	+0.213%	$58K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6649	+0.185%	$16.2M	$25.9M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6645	+0.169%	$8.5M	$9.2M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6645	+0.169%	$3.2M	$4.5M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6647	+0.177%	$5.6M	$905K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6642	+0.158%	$595K	$266K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6663	+0.237%	$2.9M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6652	+0.195%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6624	+0.090%	$22K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6641	+0.155%	$104K	$358K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0187% / S −0.4126%	1h	2.6623	+0.087%	$1K	—	100x	as long as short
Hyperliquid MORPHO	+0.0349%	1h	2.6710	+0.414%	$6.3M	$7.0M	5x	as long as short