MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0672%/8h= +73.6% APRnext payment +$0.84 per $10,000 · paid last 24h +0.168%

Price spread now: Phoenix against 01 Exchange−0.528%52s7-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 Phoenix

What this pair did over the last

the charts below follow

Funding, last 4 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

Funding pays, the price is against you. Phoenix is 0.528% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.528% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$53 on $10k: about 2.6 days of funding at the current rate (+$20 a day). The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange MORPHOUSD	2.6327	−0.0672	get 0.0084% / 1h	22m 29s	$865	$9K	5x
Short	Phoenix MORPHO	2.6188	0	get 0.0000% / 1h	22m 29s	$43K	$392K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.528%Rate

Funding earned: $141.12
Price spread: −0.528% → 0.000%: −$52.8
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $74.32
Costs to cover: 0.140%
Break-even: 3.3 days

Slippage unknown: 01 Exchange: no order-book sample; Phoenix: live order book, 39 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Phoenix live order book, 39 min ago	1.14 bp	13.1 bp −$13	44.6 bp −$446	doesn't fit	doesn't fit

01 Exchange: 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	−0.1668%	1h	2.6289	−0.146%	$82K	$127K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0927%	1h	2.6312	−0.057%	$11K	$759	10x	as long as short
01 Exchange MORPHOUSDlong	−0.0672%	1h	2.6327	long leg	$865	$9K	5x
BloFin MORPHO-USDT	−0.0200%	4h	2.6289	−0.144%	$641K	$243K	20x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0192%	1h	2.6305	−0.084%	$75K	$42K	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0157%	4h	2.6306	−0.080%	$10K	$34K	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0150%	1h	2.6339	+0.046%	$25K	$1.7M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0148%	4h	2.6180	−0.558%	$32K	$142K	10x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.6335	+0.030%	$16	—	10x	as long as short
Phoenix MORPHOshort	0.0000%	1h	2.6188	−0.528%	$43K	$392K	5x

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	+0.391%	$37	$242K	5.5x	as long as short
Gate MORPHO_USDT	+0.0046%	4h	2.6335	+0.030%	$758K	$504K	50x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6340	+0.049%	$316K	$308K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6347	+0.076%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6377	+0.191%	$6.2M	$6.9M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6343	+0.061%	$58K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6325	−0.007%	$15.9M	$25.3M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6342	+0.057%	$8.3M	$9.3M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6358	+0.118%	$3.2M	$4.3M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6326	−0.004%	$5.8M	$841K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6344	+0.065%	$598K	$251K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6336	+0.034%	$2.8M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6329	+0.008%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6235	−0.351%	$625K	$902K	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6316	−0.042%	$22K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6322	−0.018%	$101K	$353K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0186% / S −15.6829%	1h	2.6331	+0.016%	$1K	—	100x	as long as short