Funding you earn now, next payment 09:00 UTC−0.1090%/8h= −119.3% APRpaid last 24h −0.301%
Price spread now: Deribit against Binance−0.151%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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
Both sides work against this trade now: funding costs −$33 a day on $10k at the current rate, and Deribit is 0.151% cheaper against Binance than usual: you would sell low and buy high (−$15 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 | Binance MORPHOUSDT | 2.5775 | −0.0173 | get 0.0087% / 4h | 3h 54m | $15.5M | $24.0M | 75x |
| Short | Deribit MORPHO_USDC-PERPETUAL | 2.5736 | −0.1263 | pay 0.0158% / 1h | 54m 51s | $10K | $3K | 10x |
Binance MORPHOUSDT
Deribit MORPHO_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Binance. 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
- −$228.86
- Price spread: −0.151% → 0.000%
- −$15.13
- Slippage, 4 orders
- no order book: not counted
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$260.99
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Binance: live order book, 1 min ago; 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 Binance live order book, 1 min ago | 0.97 bp | 13.8 bp −$14 | 40.9 bp −$409 | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
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 | −0.2475% | 1h | 2.5690 | −0.330% | $84K | $134K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUALshort | −0.1263% | 1h | 2.5736 | −0.151% | $10K | $3K | 10x | |
| 01 Exchange MORPHOUSD | −0.1024% | 1h | 2.5690 | −0.330% | $844 | $9K | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0552% | 1h | 2.5579 | −0.760% | $70K | $37K | 25x | as long as short |
| Variational Omni MORPHO | −0.0458% | 4h | 2.5776 | +0.003% | $614K | $526K | — | as long as short |
| BloFin MORPHO-USDT | −0.0413% | 4h | 2.5739 | −0.140% | $635K | $238K | 20x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0338% | 4h | 2.5774 | −0.002% | $30K | $123K | 10x | as long as short |
| Gate MORPHO_USDT | −0.0326% | 4h | 2.5778 | +0.012% | $759K | $483K | 50x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0275% | 4h | 2.5728 | −0.182% | $10K | $34K | 10x | as long as short |
| Aster MORPHOUSDT | −0.0192% | 4h | 2.5770 | −0.019% | $54K | $49K | 20x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Coinbase International MORPHO-PERP-INTX
Variational Omni MORPHO
BloFin MORPHO-USDT
GRVT MORPHO_USDT_Perp
Gate MORPHO_USDT
Orderly PERP_MORPHO_USDC
Aster MORPHOUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix MORPHO | −0.0185% | 1h | 2.5793 | +0.070% | $33K | $308K | 5x | as long as short |
| Extended MORPHO-USD | −0.0176% | 1h | 2.5763 | −0.047% | $99K | $375K | 10x | as long as short |
| MEXC MORPHO_USDT | −0.0174% | 4h | 2.5770 | −0.019% | $6.3M | $909K | 100x | as long as short |
| Binance MORPHOUSDTlong | −0.0173% | 4h | 2.5775 | long leg | $15.5M | $24.0M | 75x | |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.5746 | −0.114% | $15 | — | 10x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +2.541% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.5775 | 0.000% | $311K | $283K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5714 | −0.237% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.5800 | +0.097% | $5.9M | $7.0M | 5x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.5798 | +0.089% | $7.8M | $8.4M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.5796 | +0.081% | $3.2M | $4.1M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.5783 | +0.031% | $586K | $264K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5785 | +0.039% | $2.8M | $1.7M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5795 | +0.078% | — | $1.4M | — | as long as short |
| Polymarket Perps MORPHO-USD | +0.0100% | 1h | 2.5767 | −0.031% | $25K | $1.4M | 5x | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.5748 | −0.105% | $21K | $5K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0156% / S −12.8912% | 1h | 2.5765 | −0.038% | $1K | — | 100x | as long as short |
Phoenix MORPHO
Extended MORPHO-USD
MEXC MORPHO_USDT
Reya MORPHORUSDPERP
Injective MORPHO/USDC PERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Polymarket Perps MORPHO-USD
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]