Funding you earn now, next payment 12:00 UTC−0.0202%/8h= −22.1% APRnext payment −$1.01 per $10,000 · paid last 24h −0.015%
Price spread now: MEXC against BingX−0.034%7-day average −0.044% · you buy dearer than you sell
Net, funding: paid 7d − costs−$44as in the Funding arb table
Net, price: spread back to 7d avg − costs−$41as in the Price arb table
costs, in and out, $10k−$420.417% of the position
Funding, last 7 days−0.026%−$3 on $10k
+Price spread, last 7 days−0.012%−$1 · spread now −0.034%, 7d avg −0.044%
=The price spread sits at its 7-day average of −0.044%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.026% in total (about -1.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.01 per $10,000. 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 | BingX MORPHO-USDT | 2.6177 | 0.0100 | pay 0.0050% / 4h | 3h 03m | — | $1.4M | — |
| Short | MEXC MORPHO_USDT | 2.6168 | −0.0102 | pay 0.0051% / 4h | 3h 03m | $6.5M | $937K | 100x |
BingX MORPHO-USDT
MEXC MORPHO_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- −$42.42
- Price spread: −0.034% → −0.044%
- $0.95
- Slippage, 4 orders
- −$27.72
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee MEXC: 2 bp × 2 orders
- −$4
- Net
- −$83.19
- Costs to cover
- 0.417%
- Break-even
- never at this rate
Slippage from BingX: live order book, 4 min ago; MEXC: live order book, 4 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 | 1.53 bp | 15.9 bp −$16 | 36.4 bp −$364 | 374.4 bp −$37.4K | 642.8 bp −$321.4K |
| Sell MEXC live order book, 4 min ago | 1.34 bp | 6.7 bp −$7 | 30.8 bp −$308 | 174.7 bp −$17.5K | 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 | −0.2430% | 1h | 2.6156 | −0.079% | $84K | $126K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.0696% | 1h | 2.6153 | −0.092% | $859 | $9K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0666% | 1h | 2.6166 | −0.042% | $11K | $3K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0552% | 1h | 2.4406 | −6.765% | $66K | $36K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0336% | 4h | 2.6161 | −0.061% | $636K | $233K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0324% | 4h | 2.6153 | −0.092% | $10K | $34K | 10x | as long as short |
| Aster MORPHOUSDT | −0.0297% | 4h | 2.6172 | −0.020% | $57K | $50K | 20x | as long as short |
| Variational Omni MORPHO | −0.0245% | 4h | 2.6076 | −0.387% | $621K | $526K | — | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0182% | 4h | 2.6118 | −0.225% | $39K | $136K | 10x | as long as short |
| Phoenix MORPHO | −0.0155% | 1h | 2.6137 | −0.153% | $33K | $308K | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDC
Aster MORPHOUSDT
Variational Omni MORPHO
GRVT MORPHO_USDT_Perp
Phoenix MORPHOShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC MORPHO_USDTshort | −0.0102% | 4h | 2.6168 | −0.034% | $6.5M | $937K | 100x | |
| Extended MORPHO-USD | −0.0096% | 1h | 2.6157 | −0.078% | $104K | $373K | 10x | as long as short |
| Binance MORPHOUSDT | −0.0096% | 4h | 2.6165 | −0.045% | $15.7M | $23.2M | 75x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.6157 | −0.076% | $16 | — | 10x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +0.966% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6275 | +0.375% | $316K | $284K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6186 | +0.036% | $5K | $203 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6203 | +0.099% | $6.0M | $7.0M | 5x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6181 | +0.015% | $8.0M | $8.3M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6176 | −0.004% | $3.2M | $4.1M | 20x | as long as short |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.6197 | +0.076% | $768K | $490K | 50x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6192 | +0.057% | $578K | $269K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6153 | −0.092% | $2.8M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDTlong | +0.0100% | 4h | 2.6177 | long leg | — | $1.4M | — | |
| Polymarket Perps MORPHO-USD | +0.0100% | 1h | 2.6195 | +0.069% | $26K | $1.3M | 5x | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6158 | −0.073% | $21K | $5K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0202% / S −17.1882% | 1h | 2.6191 | +0.052% | $1K | — | 100x | as long as short |
Extended MORPHO-USD
Binance MORPHOUSDT
Reya MORPHORUSDPERP
Injective MORPHO/USDC PERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
Gate MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
Polymarket Perps MORPHO-USD
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]