MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0333%/8h= −36.4% APRnext payment −$1.66 per $10,000 · paid last 24h −0.009%

Price spread now: Bybit against Bitget−0.064%7-day average +0.097% · you buy dearer than you sell

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$118as in the Price arb table

costs, in and out, $10k−$1011.014% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.042%−$4 on $10k

Price spread, last 7 days+0.197%+$20 · spread now −0.064%, 7d avg +0.097%

Together, before fees+0.156%+$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Bybit is 0.162% cheaper against Bitget than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of +0.097%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.042% in total (about -2.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.66 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	Bitget MORPHOUSDT	2.6510	0.0100	pay 0.0050% / 4h	2h 44m	$2.9M	$2.0M	75x
Short	Bybit MORPHOUSDT	2.6493	−0.0233	pay 0.0116% / 4h	2h 44m	$8.6M	$10.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.064%Rate

Funding earned: −$69.83
Price spread: −0.064% → +0.097%: −$16.16
Slippage, 4 orders: −$78.41
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$187.4
Costs to cover: 1.014%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; Bybit: 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 Bitget live order book, 3 min ago	6.79 bp	24.8 bp −$25	103.2 bp −$1,032	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	1.88 bp	27.4 bp −$27	86.7 bp −$867	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	−0.2059%	1h	2.6471	−0.147%	$83K	$148K	20x	as long as short
01 Exchange MORPHOUSD	−0.1120%	1h	2.6447	−0.238%	$869	$12K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0768%	1h	2.6490	−0.075%	$11K	$911	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0609%	1h	2.6486	−0.091%	$33K	$1.9M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0564%	4h	2.6519	+0.033%	$29K	$162K	10x	as long as short
Injective MORPHO/USDC PERP	−0.0385%	1h	2.6460	−0.189%	$37	$161K	5.5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0296%	1h	2.6527	+0.064%	$76K	$46K	25x	as long as short
Bybit MORPHOUSDTshort	−0.0233%	4h	2.6493	−0.064%	$8.6M	$10.1M	25x
BloFin MORPHO-USDT	−0.0200%	4h	2.6472	−0.143%	$650K	$221K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0187%	4h	2.6488	−0.083%	$10K	$34K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MORPHO_USDT	−0.0168%	4h	2.6497	−0.049%	$759K	$522K	50x	as long as short
Phoenix MORPHO	−0.0030%	1h	2.6530	+0.075%	$34K	$493K	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6493	−0.064%	$16	—	10x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6538	+0.107%	$316K	$336K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6483	−0.104%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6529	+0.072%	$6.2M	$7.2M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6508	−0.008%	$58K	$33K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6490	−0.075%	$16.3M	$26.9M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6507	−0.011%	$3.2M	$4.5M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6486	−0.091%	$5.3M	$1.2M	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6498	−0.045%	$621K	$272K	50x	as long as short
Bitget MORPHOUSDTlong	+0.0100%	4h	2.6510	long leg	$2.9M	$2.0M	75x
BingX MORPHO-USDT	+0.0100%	4h	2.6483	−0.102%	—	$1.5M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6515	+0.019%	$643K	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6486	−0.091%	$22K	$3K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6484	−0.099%	$103K	$301K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0188% / S −12.8197%	1h	2.6517	+0.027%	$1K	—	100x	as long as short