Funding you earn now, next payment 00:00 UTC−0.0232%/8h= −25.4% APRnext payment −$1.16 per $10,000 · paid last 24h −0.086%
Price spread now: Gate against Binance+0.045%7-day average −0.002% · you sell dearer than you buy
Net, funding: paid 7d − costs−$138as in the Funding arb table
Net, price: spread back to 7d avg − costs−$113as in the Price arb table
costs, in and out, $10k−$1181.178% of the position
Funding, last 7 days−0.203%−$20 on $10k
+Price spread, last 4 days (all we have)−0.139%−$14 · spread now +0.045%, 7d avg −0.002%
=The price spread pays, funding is against you. Gate is 0.047% dearer against Binance than usual: you sell high and buy low (spread +0.045% now, against its 7-day average of −0.002%): +$5 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 16 hours. At the pace of the last 7 days (−0.203% in total) that is about 39 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance MORPHOUSDT | 2.6493 | 0.0100 | pay 0.0050% / 4h | 2h 32m | $16.2M | $26.9M | 75x |
| Short | Gate MORPHO_USDT | 2.6505 | −0.0132 | pay 0.0066% / 4h | 2h 32m | $760K | $523K | 50x |
Binance MORPHOUSDT
Gate MORPHO_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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
- −$48.72
- Price spread: +0.045% → −0.002%
- $4.72
- Slippage, 4 orders
- −$92.84
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$161.83
- Costs to cover
- 1.178%
- Break-even
- never at this rate
Slippage from Binance: live order book, 9 min ago; Gate: live order book, 54 min ago.
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, 9 min ago | 0.57 bp | 15.2 bp −$15 | 42.5 bp −$425 | doesn't fit | doesn't fit |
| Sell Gate live order book, 54 min ago | 8.90 bp | 47.4 bp −$47 | doesn't fit | doesn't fit | doesn't fit |
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 | −0.2059% | 1h | 2.6478 | −0.055% | $83K | $148K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1182% | 1h | 2.6500 | +0.026% | $11K | $911 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0920% | 1h | 2.6467 | −0.098% | $870 | $12K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0473% | 1h | 2.6519 | +0.098% | $26K | $1.8M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0462% | 4h | 2.6508 | +0.058% | $29K | $154K | 10x | as long as short |
| Injective MORPHO/USDC PERP | −0.0385% | 1h | 2.6460 | −0.125% | $37 | $161K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0296% | 1h | 2.6523 | +0.113% | $76K | $46K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6481 | −0.045% | $645K | $222K | 20x | as long as short |
| Bybit MORPHOUSDT | −0.0191% | 4h | 2.6514 | +0.079% | $8.6M | $10.1M | 25x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0179% | 4h | 2.6501 | +0.030% | $10K | $34K | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Bybit MORPHOUSDT
Orderly PERP_MORPHO_USDCShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDTshort | −0.0132% | 4h | 2.6505 | +0.045% | $760K | $523K | 50x | |
| Phoenix MORPHO | −0.0030% | 1h | 2.6527 | +0.128% | $34K | $493K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6513 | +0.074% | $16 | — | 10x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6548 | +0.208% | $316K | $336K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6499 | +0.023% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6555 | +0.234% | $6.2M | $7.2M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6532 | +0.148% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDTlong | +0.0100% | 4h | 2.6493 | long leg | $16.2M | $26.9M | 75x | |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6537 | +0.166% | $3.2M | $4.5M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6499 | +0.023% | $5.3M | $1.2M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6509 | +0.060% | $621K | $271K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6502 | +0.034% | $2.9M | $2.0M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6523 | +0.113% | — | $1.5M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6494 | +0.004% | $643K | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6493 | 0.000% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6495 | +0.009% | $103K | $301K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6530 | +0.141% | $1K | — | 100x | as long as short |
Phoenix MORPHO
Reya MORPHORUSDPERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]