Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against Bitget+0.011%7-day average +0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$760.758% of the position

Long on Bitget Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 7 days+0.070%+$7 · spread now +0.011%, 7d avg +0.047%

Together, before fees+0.070%+$7 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.035% cheaper against Bitget than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MORPHOUSDT	2.6553	0.0100	pay 0.0050% / 4h	3m 57s	$2.9M	$1.8M	75x
Short	BingX MORPHO-USDT	2.6556	0.0100	get 0.0050% / 4h	3m 57s	—	$1.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Bitget. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BitgetbpFee BingXbpOrdersPrice spread, now +0.011%Rate

Funding earned: $0
Price spread: +0.011% → +0.047%: −$3.52
Slippage, 4 orders: −$53.82
Fee Bitget: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$79.34
Costs to cover: 0.758%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; BingX: live order book, 2 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 Bitget live order book, 4 min ago	4.90 bp	23.3 bp −$23	76.8 bp −$768	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	2.08 bp	13.4 bp −$13	27.2 bp −$272	169.6 bp −$17.0K	653.7 bp −$326.8K

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	−0.1752%	1h	2.6537	−0.061%	$81K	$143K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1179%	1h	2.6557	+0.015%	$11K	$812	10x	as long as short
01 Exchange MORPHOUSD	−0.0856%	1h	2.6492	−0.230%	$871	$12K	5x	as long as short
Polymarket Perps MORPHO-USD	−0.0464%	1h	2.6556	+0.011%	$28K	$1.7M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0448%	4h	2.6519	−0.130%	$41K	$146K	10x	as long as short
Injective MORPHO/USDC PERP	−0.0405%	1h	2.6430	−0.463%	$37	$242K	5.5x	as long as short
Bybit MORPHOUSDT	−0.0360%	4h	2.6550	−0.011%	$8.4M	$9.3M	25x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0360%	1h	2.6546	−0.026%	$76K	$43K	25x	as long as short
Variational Omni MORPHO	−0.0201%	4h	2.6491	−0.232%	$630K	$1.0M	—	as long as short
BloFin MORPHO-USDT	−0.0187%	4h	2.6506	−0.177%	$637K	$253K	20x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_MORPHO_USDC	−0.0144%	4h	2.6554	+0.004%	$10K	$34K	10x	as long as short
Gate MORPHO_USDT	−0.0062%	4h	2.6551	−0.008%	$770K	$533K	50x	as long as short
Phoenix MORPHO	−0.0060%	1h	2.6548	−0.019%	$43K	$477K	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6560	+0.026%	$16	—	10x	as long as short
MEXC MORPHO_USDT	+0.0052%	4h	2.6550	−0.011%	$5.5M	$961K	100x	as long as short
Aster MORPHOUSDT	+0.0053%	4h	2.6548	−0.017%	$58K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0054%	4h	2.6548	−0.018%	$16.1M	$26.0M	75x	as long as short
Extended MORPHO-USD	+0.0056%	1h	2.6549	−0.016%	$103K	$298K	10x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6601	+0.181%	$317K	$331K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6544	−0.035%	$5K	$3	5x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6580	+0.102%	$3.2M	$4.5M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6562	+0.034%	$595K	$267K	50x	as long as short
Bitget MORPHOUSDTlong	+0.0100%	4h	2.6553	long leg	$2.9M	$1.8M	75x
BingX MORPHO-USDTshort	+0.0100%	4h	2.6556	+0.011%	—	$1.4M	—
SoDEX MORPHO-USD	+0.0100%	1h	2.6550	−0.011%	$22K	$4K	5x	as long as short
Hyperliquid MORPHO	+0.0105%	1h	2.6625	+0.271%	$6.3M	$7.0M	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0158% / S −0.3418%	1h	2.6592	+0.148%	$1K	—	100x	as long as short