Funding you earn now, next payment 00:00 UTC−0.0201%/8h= −22.0% APRnext payment −$1.00 per $10,000 · paid last 24h −0.065%
Price spread now: Orderly against Binance−0.065%49s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 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 −$6 a day on $10k at the current rate, and Orderly is 0.065% cheaper against Binance 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. The two prices were read 49 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 | Binance MORPHOUSDT | 2.6395 | 0.0048 | pay 0.0024% / 4h | 1h 31m | $16.1M | $25.9M | 75x |
| Short | Orderly PERP_MORPHO_USDC | 2.6378 | −0.0152 | pay 0.0076% / 4h | 1h 31m | $10K | $34K | 10x |
Binance MORPHOUSDT
Orderly PERP_MORPHO_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$42.11
- Price spread: −0.065% → 0.000%
- −$6.48
- Slippage, 4 orders
- no order book: not counted
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$64.59
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Binance: live order book, 10 min ago; Orderly: 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, 10 min ago | 0.94 bp | 16.1 bp −$16 | 39.0 bp −$390 | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | −0.1860% | 1h | 2.6388 | −0.029% | $82K | $154K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1415% | 1h | 2.6386 | −0.035% | $11K | $812 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.1200% | 1h | 2.6327 | −0.258% | $865 | $13K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0706% | 1h | 2.6389 | −0.023% | $24K | $1.8M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0614% | 4h | 2.6383 | −0.046% | $29K | $146K | 10x | as long as short |
| Bybit MORPHOUSDT | −0.0597% | 4h | 2.6401 | +0.022% | $8.5M | $9.4M | 25x | as long as short |
| Injective MORPHO/USDC PERP | −0.0337% | 1h | 2.6430 | +0.132% | $37 | $242K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0312% | 1h | 2.6427 | +0.121% | $76K | $43K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0189% | 4h | 2.6369 | −0.099% | $641K | $244K | 20x | as long as short |
| Gate MORPHO_USDT | −0.0170% | 4h | 2.6396 | +0.003% | $767K | $533K | 50x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Bybit MORPHOUSDT
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Gate MORPHO_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_MORPHO_USDCshort | −0.0152% | 4h | 2.6378 | −0.065% | $10K | $34K | 10x | |
| Phoenix MORPHO | −0.0090% | 1h | 2.6435 | +0.151% | $34K | $484K | 5x | as long as short |
| Variational Omni MORPHO | −0.0086% | 4h | 2.6397 | +0.007% | $628K | $1.2M | — | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6376 | −0.071% | $16 | — | 10x | as long as short |
| Extended MORPHO-USD | +0.0048% | 1h | 2.6395 | −0.002% | $103K | $301K | 10x | as long as short |
| Binance MORPHOUSDTlong | +0.0048% | 4h | 2.6395 | long leg | $16.1M | $25.9M | 75x | |
| MEXC MORPHO_USDT | +0.0050% | 4h | 2.6377 | −0.069% | $5.4M | $1.1M | 100x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6438 | +0.161% | $315K | $334K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6392 | −0.010% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6441 | +0.174% | $6.2M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6404 | +0.034% | $57K | $31K | 20x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6381 | −0.053% | $3.2M | $4.4M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6398 | +0.011% | $590K | $270K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6400 | +0.019% | $2.9M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6390 | −0.019% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6377 | −0.069% | $22K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6422 | +0.102% | $1K | — | 100x | as long as short |
Phoenix MORPHO
Variational Omni MORPHO
Reya MORPHORUSDPERP
Extended MORPHO-USD
MEXC MORPHO_USDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]