MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0493%/8h= +54.0% APRnext payment +$2.46 per $10,000 · paid last 24h +0.100%

Price spread now: KuCoin against BloFin+0.136%80s7-day average +0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs−$217as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1861.856% of the position

Long on BloFin Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.318%−$32 on $10k

Price spread, last 4 days (all we have)−0.053%−$5 · spread now +0.136%, 7d avg +0.065%

Together, before fees−0.371%−$37 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and KuCoin is 0.071% dearer against BloFin than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.065%. Mind the row above: over the last 7 days funding on this pair cost −0.318%, so the current rate has only just turned in your favour. The two prices were read 80 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.318% in total (about -16.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.46 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	BloFin MORPHO-USDT	2.5811	−0.0393	get 0.0196% / 4h	3h 41m	$628K	$239K	20x
Short	KuCoin MORPHOUSDTM	2.5846	0.0100	get 0.0050% / 4h	3h 41m	$588K	$263K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against BloFin. 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 BloFinbpFee KuCoinbpOrdersPrice spread, now +0.136%Rate

Funding earned: $103.48
Price spread: +0.136% → +0.065%: $7.1
Slippage, 4 orders: −$161.65
Fee BloFin: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$75.07
Costs to cover: 1.856%
Break-even: 12.1 days

Slippage from BloFin: live order book, 35 min ago; KuCoin: live order book, 52 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 BloFin live order book, 35 min ago	0.78 bp	16.3 bp −$16	30.5 bp −$305	doesn't fit	doesn't fit
Sell KuCoin live order book, 52 min ago	10.65 bp	95.1 bp −$95	170.6 bp −$1,706	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	−0.2465%	1h	2.5791	−0.077%	$84K	$134K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1181%	1h	2.5820	+0.035%	$11K	$3K	10x	as long as short
01 Exchange MORPHOUSD	−0.0792%	1h	2.5788	−0.089%	$847	$9K	5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0552%	1h	2.5842	+0.120%	$70K	$37K	25x	as long as short
BloFin MORPHO-USDTlong	−0.0393%	4h	2.5811	long leg	$628K	$239K	20x
Variational Omni MORPHO	−0.0388%	4h	2.5861	+0.193%	$616K	$526K	—	as long as short
Orderly PERP_MORPHO_USDC	−0.0291%	4h	2.5814	+0.012%	$10K	$34K	10x	as long as short
GRVT MORPHO_USDT_Perp	−0.0234%	4h	2.5832	+0.083%	$30K	$123K	10x	as long as short
Aster MORPHOUSDT	−0.0227%	4h	2.5820	+0.036%	$54K	$49K	20x	as long as short
Phoenix MORPHO	−0.0155%	1h	2.5882	+0.275%	$33K	$308K	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance MORPHOUSDT	−0.0154%	4h	2.5808	−0.011%	$15.5M	$23.8M	75x	as long as short
Extended MORPHO-USD	−0.0152%	1h	2.5807	−0.015%	$99K	$375K	10x	as long as short
MEXC MORPHO_USDT	−0.0152%	4h	2.5808	−0.012%	$6.3M	$913K	100x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.5830	+0.072%	$15	—	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+2.398%	$37	$242K	5.5x	as long as short
Gate MORPHO_USDT	+0.0068%	4h	2.5859	+0.186%	$760K	$484K	50x	as long as short
Lighter MORPHO	+0.0096%	1h	2.5896	+0.329%	$312K	$283K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.5797	−0.053%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.5850	+0.151%	$6.0M	$7.0M	5x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.5826	+0.058%	$7.8M	$8.4M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.5817	+0.023%	$3.2M	$4.1M	20x	as long as short
KuCoin MORPHOUSDTMshort	+0.0100%	4h	2.5846	+0.136%	$588K	$263K	50x
Bitget MORPHOUSDT	+0.0100%	4h	2.5842	+0.120%	$2.8M	$1.6M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.5826	+0.058%	—	$1.4M	—	as long as short
Polymarket Perps MORPHO-USD	+0.0100%	1h	2.5855	+0.170%	$25K	$1.3M	5x	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.5814	+0.012%	$21K	$5K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0156% / S −12.8912%	1h	2.5851	+0.154%	$1K	—	100x	as long as short