Funding you earn now, next payment 22:00 UTC−0.2154%/8h= −235.9% APRnext payment −$2.69 per $10,000 · paid last 24h +0.082%
Price spread now: Kraken Futures against SoDEX−0.057%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
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$65 a day on $10k at the current rate, and Kraken Futures is 0.057% cheaper against SoDEX than usual: you would sell low and buy high (−$6 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 | SoDEX MORPHO-USD | 2.6552 | 0.0100 | pay 0.0013% / 1h | 26m 59s | $22K | $3K | 5x |
| Short | Kraken Futures PF_MORPHOUSD | 2.6537 | −0.2054 | pay 0.0257% / 1h | 26m 59s | $83K | $148K | 20x |
SoDEX MORPHO-USD
Kraken Futures PF_MORPHOUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against SoDEX. 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
- −$452.37
- Price spread: −0.057% → 0.000%
- −$5.66
- Slippage, 4 orders
- no order book: not counted
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$476.03
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: SoDEX: no order-book sample; Kraken Futures: live order book, 60 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 SoDEX no order-book sample | — | — | — | — | — |
| Sell Kraken Futures live order book, 60 min ago | 17.81 bp | 64.4 bp −$64 | 191.7 bp −$1,917 | doesn't fit | doesn't fit |
SoDEX: 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 | −0.2054% | 1h | 2.6537 | −0.057% | $83K | $148K | 20x | |
| Deribit MORPHO_USDC-PERPETUAL | −0.1216% | 1h | 2.6558 | +0.023% | $11K | $911 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0888% | 1h | 2.6511 | −0.154% | $871 | $12K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0436% | 4h | 2.6505 | −0.178% | $29K | $154K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0410% | 1h | 2.6546 | −0.023% | $26K | $1.8M | 5x | as long as short |
| Injective MORPHO/USDC PERP | −0.0385% | 1h | 2.6460 | −0.346% | $37 | $161K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0296% | 1h | 2.6523 | −0.109% | $76K | $46K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6528 | −0.090% | $646K | $222K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0174% | 4h | 2.6548 | −0.015% | $10K | $34K | 10x | as long as short |
| Bybit MORPHOUSDT | −0.0116% | 4h | 2.6570 | +0.068% | $8.6M | $10.1M | 25x | as long as short |
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Polymarket Perps MORPHO-USD
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDC
Bybit MORPHOUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | −0.0106% | 4h | 2.6547 | −0.019% | $761K | $523K | 50x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6539 | −0.049% | $34K | $493K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6549 | −0.013% | $16 | — | 10x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6596 | +0.165% | $317K | $336K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6539 | −0.051% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6600 | +0.181% | $6.2M | $7.2M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6558 | +0.023% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6565 | +0.050% | $16.3M | $26.9M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6586 | +0.128% | $3.2M | $4.5M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6551 | −0.004% | $5.5M | $1.2M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6545 | −0.026% | $622K | $271K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6570 | +0.068% | $2.9M | $2.0M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6559 | +0.026% | — | $1.5M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6509 | −0.163% | $643K | $1.4M | — | as long as short |
| SoDEX MORPHO-USDlong | +0.0100% | 1h | 2.6552 | long leg | $22K | $3K | 5x | |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6562 | +0.038% | $103K | $301K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6575 | +0.085% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Phoenix MORPHO
Reya MORPHORUSDPERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]