Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0860%/8h= +94.2% APRpaid last 24h +0.194%

Price spread now: Aster against 01 Exchange−0.072%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on Aster

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 airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Aster is 0.072% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.072% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 7 hours of funding at the current rate (+$26 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange MORPHOUSD	2.6348	−0.0760	get 0.0095% / 1h	52m 19s	$866	$10K	5x
Short	Aster MORPHOUSDT	2.6329	0.0100	get 0.0050% / 4h	2h 52m	$58K	$30K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against 01 Exchange. 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 01 ExchangebpFee AsterbpOrdersPrice spread, now −0.072%Rate

Funding earned: $180.6
Price spread: −0.072% → 0.000%: −$7.19
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: $158.41
Costs to cover: 0.150%
Break-even: 0.9 days

Slippage unknown: 01 Exchange: no order-book sample; Aster: 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Aster no order-book sample	—	—	—	—	—

01 Exchange and Aster: 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	−0.1902%	1h	2.6339	−0.034%	$80K	$126K	20x	as long as short
01 Exchange MORPHOUSDlong	−0.0760%	1h	2.6348	long leg	$866	$10K	5x
Deribit MORPHO_USDC-PERPETUAL	−0.0698%	1h	2.6352	+0.015%	$11K	$785	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0232%	1h	2.6456	+0.410%	$76K	$43K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6320	−0.106%	$642K	$235K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0148%	4h	2.6342	−0.023%	$10K	$34K	10x	as long as short
GRVT MORPHO_USDT_Perp	−0.0134%	4h	2.6301	−0.179%	$40K	$133K	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0114%	1h	2.6356	+0.030%	$24K	$1.7M	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6346	−0.006%	$16	—	10x	as long as short
Phoenix MORPHO	+0.0030%	1h	2.6277	−0.269%	$43K	$426K	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	+0.311%	$37	$242K	5.5x	as long as short
Gate MORPHO_USDT	+0.0034%	4h	2.6329	−0.072%	$759K	$493K	50x	as long as short
Variational Omni MORPHO	+0.0052%	4h	2.6316	−0.122%	$627K	$925K	—	as long as short
Lighter MORPHO	+0.0096%	1h	2.6466	+0.447%	$317K	$319K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6360	+0.047%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6397	+0.186%	$6.2M	$6.9M	5x	as long as short
Aster MORPHOUSDTshort	+0.0100%	4h	2.6329	−0.072%	$58K	$30K	20x
Binance MORPHOUSDT	+0.0100%	4h	2.6344	−0.015%	$15.9M	$25.2M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6339	−0.034%	$8.3M	$9.2M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6344	−0.015%	$3.2M	$4.3M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6349	+0.004%	$5.5M	$872K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6326	−0.083%	$594K	$257K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6348	0.000%	$2.9M	$1.7M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6352	+0.015%	—	$1.5M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6348	0.000%	$22K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6338	−0.039%	$101K	$362K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0186% / S −0.4126%	1h	2.6362	+0.054%	$1K	—	100x	as long as short