MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0154%/8h= −16.8% APRnext payment −$0.19 per $10,000 · paid last 24h −0.052%

Price spread now: Polymarket Perps against Reya+0.040%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

The price spread pays, funding is against you. Polymarket Perps is 0.040% dearer against Reya than usual: you sell high and buy low (spread +0.040% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 21 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya MORPHORUSDPERP	2.6047	−0.0005	get 0.0001% / 1h	3m 40s	$16	—	10x
Short	Polymarket Perps MORPHO-USD	2.6058	−0.0158	pay 0.0020% / 1h	3m 40s	$25K	$1.6M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Reya. 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 ReyabpFee Polymarket PerpsbpOrdersPrice spread, now +0.040%Rate

Funding earned: −$32.26
Price spread: +0.040% → 0.000%: $4.04
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$42.22
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Polymarket Perps: live order book, 5 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 Polymarket Perps live order book, 5 min ago	2.68 bp	8.2 bp −$8	8.4 bp −$84	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_MORPHOUSD	−0.1663%	1h	2.6054	+0.024%	$81K	$127K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1092%	1h	2.6053	+0.021%	$11K	$1K	10x	as long as short
01 Exchange MORPHOUSD	−0.1016%	1h	2.5999	−0.186%	$854	$9K	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0282%	4h	2.6040	−0.027%	$34K	$140K	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0224%	1h	2.6092	+0.171%	$75K	$41K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6020	−0.105%	$638K	$241K	20x	as long as short
Polymarket Perps MORPHO-USDshort	−0.0158%	1h	2.6058	+0.040%	$25K	$1.6M	5x
Orderly PERP_MORPHO_USDC	−0.0141%	4h	2.6051	+0.014%	$10K	$34K	10x	as long as short
Reya MORPHORUSDPERPlong	−0.0005%	1h	2.6047	long leg	$16	—	10x
Phoenix MORPHO	0.0000%	1h	2.6113	+0.252%	$43K	$370K	5x	as long as short

Show 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	+1.469%	$37	$242K	5.5x	as long as short
Gate MORPHO_USDT	+0.0040%	4h	2.6040	−0.029%	$763K	$483K	50x	as long as short
Bybit MORPHOUSDT	+0.0081%	4h	2.6080	+0.125%	$8.1M	$8.6M	25x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6090	+0.163%	$313K	$309K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6064	+0.063%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6115	+0.259%	$6.1M	$6.8M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6089	+0.159%	$57K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6060	+0.048%	$15.8M	$24.7M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6093	+0.175%	$3.2M	$4.1M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6061	+0.052%	$5.9M	$835K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6080	+0.125%	$595K	$253K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6067	+0.075%	$2.8M	$1.7M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6073	+0.098%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6050	+0.011%	$621K	$675K	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6062	+0.056%	$21K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6061	+0.053%	$100K	$348K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0186% / S −15.6829%	1h	2.6078	+0.117%	$1K	—	100x	as long as short