Funding you earn now, next payment 01:00 UTC−0.0228%/8h= −24.9% APRnext payment −$0.28 per $10,000 · paid last 24h +0.060%
Price spread now: Coinbase International against Reya−0.110%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Coinbase International is 0.110% cheaper against Reya than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Reya MORPHORUSDPERP | 2.6174 | −0.0004 | get 0.0001% / 1h | 6m 59s | $16 | — | 10x |
| Short | Coinbase International MORPHO-PERP-INTX | 2.6145 | −0.0232 | pay 0.0029% / 1h | 6m 59s | $75K | $42K | 25x |
Reya MORPHORUSDPERP
Coinbase International MORPHO-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Reya. 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
- −$47.78
- Price spread: −0.110% → 0.000%
- −$11.04
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$74.82
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Reya: no order-book sample; Coinbase International: 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 Reya no order-book sample | — | — | — | — | — |
| Sell Coinbase International no order-book sample | — | — | — | — | — |
Reya and Coinbase International: 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 26 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 | −0.1916% | 1h | 2.6149 | −0.094% | $80K | $127K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0933% | 1h | 2.6175 | +0.004% | $11K | $955 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0464% | 1h | 2.6134 | −0.152% | $859 | $9K | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTXshort | −0.0232% | 1h | 2.6145 | −0.110% | $75K | $42K | 25x | |
| Orderly PERP_MORPHO_USDC | −0.0157% | 4h | 2.6174 | 0.000% | $10K | $34K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0140% | 1h | 2.6178 | +0.016% | $25K | $1.8M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0036% | 4h | 2.6050 | −0.472% | $32K | $142K | 10x | as long as short |
| Reya MORPHORUSDPERPlong | −0.0004% | 1h | 2.6174 | long leg | $16 | — | 10x | |
| Phoenix MORPHO | +0.0030% | 1h | 2.6221 | +0.180% | $43K | $426K | 5x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +0.978% | $37 | $242K | 5.5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Orderly PERP_MORPHO_USDC
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Phoenix MORPHO
Injective MORPHO/USDC PERPShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | +0.0046% | 4h | 2.6137 | −0.141% | $759K | $518K | 50x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6175 | +0.004% | $314K | $322K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6190 | +0.060% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6191 | +0.066% | $6.1M | $7.0M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6131 | −0.163% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6132 | −0.160% | $15.8M | $25.8M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6144 | −0.114% | $8.2M | $9.4M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6161 | −0.049% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6120 | −0.206% | $5.7M | $974K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6167 | −0.026% | $594K | $256K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6132 | −0.160% | $2.8M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6140 | −0.129% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6255 | +0.311% | $626K | $912K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6170 | −0.015% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6112 | −0.237% | $101K | $355K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6198 | +0.091% | $1K | — | 100x | as long as short |
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]