MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0866%/8h= −94.8% APRnext payment −$1.08 per $10,000 · paid last 24h −0.262%

Price spread now: Deribit against SoDEX+0.038%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on Deribit

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—needs both histories

The price spread pays, funding is against you. Deribit is 0.038% dearer against SoDEX than usual: you sell high and buy low (spread +0.038% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$26 a day in funding at the current rate, which eats that in about 3 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX MORPHO-USD	2.6540	0.0100	pay 0.0013% / 1h	57m 08s	$22K	$4K	5x
Short	Deribit MORPHO_USDC-PERPETUAL	2.6550	−0.0766	pay 0.0096% / 1h	57m 08s	$11K	$812	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against SoDEX. 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 SoDEXbpFee DeribitbpOrdersPrice spread, now +0.038%Rate

Funding earned: −$181.84
Price spread: +0.038% → 0.000%: $3.77
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$193.08
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Deribit: 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 SoDEX no order-book sample	—	—	—	—	—
Sell Deribit no order-book sample	—	—	—	—	—

SoDEX and Deribit: 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	−0.1754%	1h	2.6503	−0.139%	$82K	$149K	20x	as long as short
Deribit MORPHO_USDC-PERPETUALshort	−0.0766%	1h	2.6550	+0.038%	$11K	$812	10x
GRVT MORPHO_USDT_Perp	−0.0566%	4h	2.6430	−0.415%	$29K	$134K	10x	as long as short
Injective MORPHO/USDC PERP	−0.0405%	1h	2.6430	−0.414%	$37	$242K	5.5x	as long as short
Bybit MORPHOUSDT	−0.0374%	4h	2.6564	+0.090%	$8.5M	$9.2M	25x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0360%	1h	2.6654	+0.430%	$77K	$43K	25x	as long as short
01 Exchange MORPHOUSD	−0.0328%	1h	2.6572	+0.121%	$873	$12K	5x	as long as short
BloFin MORPHO-USDT	−0.0223%	4h	2.6558	+0.068%	$639K	$251K	20x	as long as short
Polymarket Perps MORPHO-USD	−0.0194%	1h	2.6572	+0.121%	$26K	$1.7M	5x	as long as short
Orderly PERP_MORPHO_USDC	−0.0144%	4h	2.6547	+0.026%	$10K	$34K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MORPHO_USDT	−0.0122%	4h	2.6583	+0.162%	$773K	$531K	50x	as long as short
Phoenix MORPHO	−0.0090%	1h	2.6642	+0.384%	$44K	$477K	5x	as long as short
Variational Omni MORPHO	−0.0088%	4h	2.6431	−0.409%	$628K	$1.2M	—	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6571	+0.117%	$16	—	10x	as long as short
MEXC MORPHO_USDT	+0.0014%	4h	2.6565	+0.094%	$5.4M	$939K	100x	as long as short
Extended MORPHO-USD	+0.0016%	1h	2.6552	+0.046%	$103K	$301K	10x	as long as short
Binance MORPHOUSDT	+0.0017%	4h	2.6530	−0.038%	$16.1M	$25.8M	75x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6576	+0.137%	$316K	$331K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6572	+0.122%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6598	+0.219%	$6.3M	$7.1M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6571	+0.118%	$58K	$31K	20x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6522	−0.068%	$3.2M	$4.4M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6568	+0.106%	$594K	$268K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6567	+0.102%	$2.9M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6542	+0.008%	—	$1.5M	—	as long as short
SoDEX MORPHO-USDlong	+0.0100%	1h	2.6540	long leg	$22K	$4K	5x
GMX MORPHO/USD [ETH-USDC]	L +0.0188% / S −0.3373%	1h	2.6586	+0.172%	$1K	—	100x	as long as short