Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h +0.139%

Price spread now: Coinbase International against BloFin+0.423%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BloFin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.221%−$22 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Coinbase International is 0.423% dearer against BloFin than usual: you sell high and buy low (spread +0.423% now, against zero (this spread has no 7-day history yet)): +$42 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 15 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin MORPHO-USDT	2.6505	−0.0200	get 0.0100% / 4h	2h 10m	$648K	$221K	20x
Short	Coinbase International MORPHO-PERP-INTX	2.6617	−0.0296	pay 0.0037% / 1h	10m 52s	$77K	$46K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BloFinbpFee Coinbase InternationalbpOrdersPrice spread, now +0.423%Rate

Funding earned: −$20.16
Price spread: +0.423% → 0.000%: $42.26
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $0.1
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: BloFin: live order book, 11 min ago; Coinbase International: no order-book sample. Net counts fees only.

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 BloFin live order book, 11 min ago	0.56 bp	13.5 bp −$13	27.9 bp −$279	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.2057%	1h	2.6503	−0.008%	$83K	$148K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1558%	1h	2.6496	−0.034%	$11K	$911	10x	as long as short
01 Exchange MORPHOUSD	−0.0888%	1h	2.6413	−0.347%	$868	$13K	5x	as long as short
Polymarket Perps MORPHO-USD	−0.0442%	1h	2.6494	−0.042%	$26K	$1.8M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0400%	4h	2.6507	+0.008%	$29K	$154K	10x	as long as short
Injective MORPHO/USDC PERP	−0.0385%	1h	2.6610	+0.396%	$37	$198K	5.5x	as long as short
Bybit MORPHOUSDT	−0.0346%	4h	2.6527	+0.083%	$8.6M	$9.9M	25x	as long as short
Coinbase International MORPHO-PERP-INTXshort	−0.0296%	1h	2.6617	+0.423%	$77K	$46K	25x
BloFin MORPHO-USDTlong	−0.0200%	4h	2.6505	long leg	$648K	$221K	20x
Orderly PERP_MORPHO_USDC	−0.0169%	4h	2.6512	+0.026%	$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	−0.0156%	4h	2.6545	+0.151%	$774K	$548K	50x	as long as short
Phoenix MORPHO	−0.0030%	1h	2.6540	+0.132%	$34K	$493K	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6495	−0.039%	$16	—	10x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6550	+0.169%	$316K	$337K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6469	−0.136%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6568	+0.238%	$6.2M	$7.2M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6558	+0.200%	$58K	$33K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6547	+0.158%	$16.2M	$26.7M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6540	+0.132%	$3.2M	$4.5M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6557	+0.196%	$5.5M	$1.2M	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6557	+0.196%	$622K	$269K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6533	+0.106%	$2.9M	$1.9M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6549	+0.166%	—	$1.5M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6594	+0.335%	$647K	$1.2M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6500	−0.019%	$22K	$3K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6530	+0.094%	$103K	$301K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0188% / S −12.8197%	1h	2.6535	+0.114%	$1K	—	100x	as long as short