Funding you earn now, next payment 23:00 UTC−0.1855%/8h= −203.2% APRnext payment −$2.32 per $10,000 · paid last 24h +0.100%
Price spread now: Kraken Futures against Reya−0.034%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 −$56 a day on $10k at the current rate, and Kraken Futures is 0.034% cheaper against Reya than usual: you would sell low and buy high (−$3 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 | 2.6399 | −0.0004 | get 0.0001% / 1h | 34m 47s | $16 | — | 10x |
| Short | Kraken Futures PF_MORPHOUSD | 2.6390 | −0.1860 | pay 0.0232% / 1h | 34m 47s | $82K | $151K | 20x |
Reya MORPHORUSDPERP
Kraken Futures PF_MORPHOUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- −$389.62
- Price spread: −0.034% → 0.000%
- −$3.4
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$409.02
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Reya: no order-book sample; Kraken Futures: live order book, 47 min ago. 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 Kraken Futures live order book, 47 min ago | 44.08 bp | 49.3 bp −$49 | 125.7 bp −$1,257 | doesn't fit | doesn't fit |
Reya: 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_MORPHOUSDshort | −0.1860% | 1h | 2.6390 | −0.034% | $82K | $151K | 20x | |
| Deribit MORPHO_USDC-PERPETUAL | −0.1527% | 1h | 2.6396 | −0.010% | $11K | $911 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.1184% | 1h | 2.6315 | −0.317% | $865 | $13K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0676% | 1h | 2.6387 | −0.044% | $23K | $1.8M | 5x | as long as short |
| Bybit MORPHOUSDT | −0.0647% | 4h | 2.6390 | −0.032% | $8.5M | $9.5M | 25x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0602% | 4h | 2.6392 | −0.026% | $29K | $146K | 10x | as long as short |
| Injective MORPHO/USDC PERP | −0.0337% | 1h | 2.6430 | +0.119% | $37 | $242K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0312% | 1h | 2.6427 | +0.108% | $76K | $43K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0191% | 4h | 2.6380 | −0.070% | $640K | $244K | 20x | as long as short |
| Gate MORPHO_USDT | −0.0188% | 4h | 2.6389 | −0.036% | $766K | $533K | 50x | as long as short |
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
Bybit MORPHOUSDT
GRVT MORPHO_USDT_Perp
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Gate MORPHO_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_MORPHO_USDC | −0.0153% | 4h | 2.6391 | −0.029% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0090% | 1h | 2.6460 | +0.233% | $34K | $484K | 5x | as long as short |
| Variational Omni MORPHO | −0.0086% | 4h | 2.6397 | −0.006% | $628K | $1.2M | — | as long as short |
| Reya MORPHORUSDPERPlong | −0.0004% | 1h | 2.6399 | long leg | $16 | — | 10x | |
| Extended MORPHO-USD | +0.0064% | 1h | 2.6371 | −0.105% | $103K | $301K | 10x | as long as short |
| MEXC MORPHO_USDT | +0.0064% | 4h | 2.6375 | −0.089% | $5.4M | $1.1M | 100x | as long as short |
| Binance MORPHOUSDT | +0.0064% | 4h | 2.6373 | −0.096% | $16.1M | $25.9M | 75x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6427 | +0.109% | $315K | $334K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6358 | −0.152% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6434 | +0.134% | $6.2M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6404 | +0.021% | $57K | $31K | 20x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6385 | −0.051% | $3.2M | $4.4M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6384 | −0.055% | $617K | $270K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6383 | −0.059% | $2.9M | $1.9M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6388 | −0.040% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6395 | −0.013% | $22K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6431 | +0.122% | $1K | — | 100x | as long as short |
Orderly PERP_MORPHO_USDC
Phoenix MORPHO
Variational Omni MORPHO
Extended MORPHO-USD
MEXC MORPHO_USDT
Binance MORPHOUSDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]