Funding you earn now, next payment 01:00 UTC−0.0142%/8h= −15.5% APRpaid last 24h −0.034%
Price spread now: Orderly against Reya+0.052%7-day average — · you sell dearer than you buy
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
=The price spread pays, funding is against you. Orderly is 0.052% dearer against Reya than usual: you sell high and buy low (spread +0.052% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 29 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Reya MORPHORUSDPERP | 2.6598 | −0.0004 | get 0.0001% / 1h | 18m 20s | $16 | — | 10x |
| Short | Orderly PERP_MORPHO_USDC | 2.6612 | −0.0146 | pay 0.0073% / 4h | 3h 18m | $10K | $34K | 10x |
Reya MORPHORUSDPERP
Orderly PERP_MORPHO_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$29.76
- Price spread: +0.052% → 0.000%
- $5.21
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$36.56
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Reya: no order-book sample; 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 Reya no order-book sample | — | — | — | — | — |
| Sell Orderly no order-book sample | — | — | — | — | — |
Reya and 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 | −0.1827% | 1h | 2.6599 | +0.004% | $80K | $132K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0538% | 1h | 2.6629 | +0.116% | $11K | $785 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0456% | 1h | 2.6519 | −0.298% | $871 | $13K | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0280% | 1h | 2.6635 | +0.139% | $76K | $43K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6586 | −0.046% | $642K | $229K | 20x | as long as short |
| Orderly PERP_MORPHO_USDCshort | −0.0146% | 4h | 2.6612 | +0.052% | $10K | $34K | 10x | |
| Variational Omni MORPHO | −0.0112% | 4h | 2.6621 | +0.084% | $634K | $1.0M | — | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6643 | +0.169% | $44K | $474K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0029% | 1h | 2.6600 | +0.007% | $24K | $1.7M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0016% | 4h | 2.6605 | +0.025% | $41K | $133K | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Variational Omni MORPHO
Phoenix MORPHO
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_PerpShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya MORPHORUSDPERPlong | −0.0004% | 1h | 2.6598 | long leg | $16 | — | 10x | |
| Gate MORPHO_USDT | +0.0032% | 4h | 2.6587 | −0.042% | $769K | $524K | 50x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | −0.632% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6677 | +0.296% | $319K | $325K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6539 | −0.221% | $5K | $3 | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6583 | −0.058% | $58K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6625 | +0.099% | $16.2M | $25.9M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6622 | +0.090% | $8.5M | $9.2M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6635 | +0.139% | $3.2M | $4.5M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6579 | −0.072% | $5.5M | $905K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6591 | −0.027% | $594K | $266K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6629 | +0.116% | $2.9M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6606 | +0.030% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6624 | +0.097% | $22K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6615 | +0.064% | $104K | $358K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0187% / S −0.4126% | 1h | 2.6623 | +0.094% | $1K | — | 100x | as long as short |
| Hyperliquid MORPHO | +0.0350% | 1h | 2.6663 | +0.244% | $6.3M | $7.0M | 5x | as long as short |
Gate MORPHO_USDT
Injective MORPHO/USDC PERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]
Hyperliquid MORPHO