Funding you earn now, next payment 00:00 UTC−0.0266%/8h= −29.1% APRnext payment −$1.33 per $10,000 · paid last 24h −0.086%
Price spread now: Gate against BingX+0.064%7-day average −0.035% · you sell dearer than you buy
Net, funding: paid 7d − costs−$149as in the Funding arb table
Net, price: spread back to 7d avg − costs−$117as in the Price arb table
costs, in and out, $10k−$1271.271% of the position
Funding, last 7 days−0.219%−$22 on $10k
+Price spread, last 4 days (all we have)−0.099%−$10 · spread now +0.064%, 7d avg −0.035%
=The price spread pays, funding is against you. Gate is 0.100% dearer against BingX than usual: you sell high and buy low (spread +0.064% now, against its 7-day average of −0.035%): +$10 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 30 hours. At the pace of the last 7 days (−0.219% in total) that is about 3.2 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BingX MORPHO-USDT | 2.6466 | 0.0100 | pay 0.0050% / 4h | 1h 42m | — | $1.5M | — |
| Short | Gate MORPHO_USDT | 2.6483 | −0.0166 | pay 0.0083% / 4h | 1h 42m | $771K | $530K | 50x |
BingX MORPHO-USDT
Gate MORPHO_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate against BingX. 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
- −$55.86
- Price spread: +0.064% → −0.035%
- $9.96
- Slippage, 4 orders
- −$102.08
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$172.99
- Costs to cover
- 1.271%
- Break-even
- never at this rate
Slippage from BingX: live order book, 4 min ago; Gate: live order book, 39 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 BingX live order book, 4 min ago | 2.08 bp | 15.6 bp −$16 | 31.9 bp −$319 | 315.7 bp −$31.6K | 730.1 bp −$365.0K |
| Sell Gate live order book, 39 min ago | 7.33 bp | 48.4 bp −$48 | 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 | −0.1857% | 1h | 2.6436 | −0.114% | $82K | $149K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1186% | 1h | 2.6434 | −0.121% | $11K | $911 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.1152% | 1h | 2.6408 | −0.219% | $868 | $13K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0608% | 1h | 2.6463 | −0.011% | $26K | $1.7M | 5x | as long as short |
| Bybit MORPHOUSDT | −0.0591% | 4h | 2.6470 | +0.015% | $8.5M | $9.5M | 25x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0572% | 4h | 2.6428 | −0.144% | $29K | $146K | 10x | as long as short |
| Injective MORPHO/USDC PERP | −0.0337% | 1h | 2.6430 | −0.136% | $37 | $242K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0312% | 1h | 2.6427 | −0.147% | $76K | $43K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0178% | 4h | 2.6433 | −0.125% | $642K | $244K | 20x | as long as short |
| Gate MORPHO_USDTshort | −0.0166% | 4h | 2.6483 | +0.064% | $771K | $530K | 50x |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
Bybit MORPHOUSDT
GRVT MORPHO_USDT_Perp
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_MORPHO_USDC | −0.0156% | 4h | 2.6422 | −0.166% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0090% | 1h | 2.6468 | +0.008% | $34K | $484K | 5x | as long as short |
| Variational Omni MORPHO | −0.0014% | 4h | 2.6447 | −0.070% | $628K | $1.2M | — | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6466 | +0.001% | $16 | — | 10x | as long as short |
| Extended MORPHO-USD | +0.0088% | 1h | 2.6450 | −0.059% | $103K | $301K | 10x | as long as short |
| MEXC MORPHO_USDT | +0.0088% | 4h | 2.6457 | −0.034% | $5.2M | $1.1M | 100x | as long as short |
| Binance MORPHOUSDT | +0.0089% | 4h | 2.6463 | −0.011% | $16.1M | $26.1M | 75x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6504 | +0.145% | $315K | $333K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6451 | −0.055% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6528 | +0.234% | $6.2M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6479 | +0.050% | $58K | $33K | 20x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6479 | +0.049% | $3.2M | $4.4M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6488 | +0.083% | $619K | $263K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6482 | +0.060% | $2.9M | $1.9M | 75x | as long as short |
| BingX MORPHO-USDTlong | +0.0100% | 4h | 2.6466 | long leg | — | $1.5M | — | |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6430 | −0.136% | $22K | $3K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6454 | −0.045% | $1K | — | 100x | as long as short |
Orderly PERP_MORPHO_USDC
Phoenix MORPHO
Variational Omni MORPHO
Reya MORPHORUSDPERP
Extended MORPHO-USD
MEXC MORPHO_USDT
Binance MORPHOUSDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]