MORPHO

Alert

Funding spread now, next payment 20:00 UTC−0.0712%/8h

paid, last 24h−0.047%paid, last 7 days−0.194%to open and close $10k−$46

Long on Binance Short on Polymarket Perps

The current rate is far above what this pair has been paying: over the last 7 days it paid -0.194% in total (about -10.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MORPHOUSDT	2.6935	0.0100	pay 0.0050% / 4h	58m 33s	$16.6M	$27.0M	75x
Short	Polymarket Perps MORPHO-USD	2.6945	−0.0612	pay 0.0077% / 1h	58m 33s	$24K	$2.2M	5x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee BinancebpFee Polymarket PerpsbpOrdersRate

Funding earned: −$149.54
Slippage, 4 orders: −$28.05
Fee Binance: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$195.58
Break-even: never at this rate

Slippage from Binance: live order book, 14 min ago; Polymarket Perps: live order book, 2 min ago.

Price risk

price view

Price gap now: +0.037%
Avg gap 7d: +0.039%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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, 14 min ago	0.37 bp	15.6 bp −$16	38.4 bp −$384	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 2 min ago	2.60 bp	7.0 bp −$7	7.1 bp −$71	doesn't fit	doesn't fit

MORPHO on 26 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Kraken Futures PF_MORPHOUSD	−0.1658%	1h	$85K	$164K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0972%	1h	$11K	$745	10x	as long as short
Polymarket Perps MORPHO-USDshort	−0.0612%	1h	$24K	$2.2M	5x
01 Exchange MORPHOUSD	−0.0512%	1h	$884	$12K	5x	as long as short
Gate MORPHO_USDT	−0.0374%	4h	$778K	$529K	50x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0328%	1h	$78K	$47K	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0210%	4h	$10K	$34K	10x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	$667K	$209K	20x	as long as short
Injective MORPHO/USDC PERP	−0.0114%	1h	$37	$39K	5.5x	as long as short
Bybit MORPHOUSDT	−0.0078%	4h	$8.9M	$10.2M	25x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Phoenix MORPHO	−0.0030%	1h	$35K	$473K	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	$16	—	10x	as long as short
Lighter MORPHO	+0.0096%	1h	$321K	$356K	5x	as long as short
Variational Omni MORPHO	+0.0097%	4h	$654K	$1.4M	—	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	$5K	$3	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	$59K	$33K	20x	as long as short
Binance MORPHOUSDTlong	+0.0100%	4h	$16.6M	$27.0M	75x
OKX MORPHO-USDT-SWAP	+0.0100%	4h	$3.2M	$4.6M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	$5.1M	$1.1M	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	$602K	$315K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	$3.0M	$2.0M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	—	$1.5M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	$23K	$2K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	$101K	$304K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0193% / S −0.0879%	1h	$2K	—	100x	as long as short
Hyperliquid MORPHO	+0.0659%	1h	$6.4M	$7.1M	5x	as long as short