MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0384%/8h= +42.0% APRnext payment +$0.48 per $10,000 · paid last 24h −0.039%

Price spread now: Extended against Coinbase International−0.047%7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.176%−$18 on $10k

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

Together, before fees—+ Points / potential airdropExtended: Active · farm boardneeds both histories

Funding pays, the price is against you. Extended is 0.047% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.047% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 10 hours of funding at the current rate (+$12 a day). Mind the row above: over the last 7 days funding on this pair cost −0.176%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.176% in total (about -9.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.48 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	Coinbase International MORPHO-PERP-INTX	2.6715	−0.0280	get 0.0035% / 1h	10m 15s	$77K	$43K	25x
Short	Extended MORPHO-USD	2.6702	0.0104	get 0.0013% / 1h	10m 15s	$102K	$362K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Coinbase International. 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 Coinbase InternationalbpFee ExtendedbpOrdersPrice spread, now −0.047%Rate

Funding earned: $80.64
Price spread: −0.047% → 0.000%: −$4.74
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $60.9
Costs to cover: 0.150%
Break-even: 1.7 days

Slippage unknown: Coinbase International: no order-book sample; Extended: live order book, 62 min ago. 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Extended live order book, 62 min ago	2.45 bp	22.3 bp −$22	189.5 bp −$1,895	doesn't fit	doesn't fit

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	−0.1822%	1h	2.6670	−0.169%	$81K	$125K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0610%	1h	2.6711	−0.015%	$11K	$785	10x	as long as short
01 Exchange MORPHOUSD	−0.0424%	1h	2.6710	−0.019%	$878	$13K	5x	as long as short
Coinbase International MORPHO-PERP-INTXlong	−0.0280%	1h	2.6715	long leg	$77K	$43K	25x
BloFin MORPHO-USDT	−0.0200%	4h	2.6675	−0.150%	$643K	$232K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0145%	4h	2.6694	−0.079%	$10K	$34K	10x	as long as short
Phoenix MORPHO	−0.0030%	1h	2.6758	+0.161%	$44K	$474K	5x	as long as short
Variational Omni MORPHO	−0.0029%	4h	2.6676	−0.147%	$636K	$926K	—	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6717	+0.006%	$16	—	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0003%	1h	2.6717	+0.007%	$25K	$1.7M	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MORPHO_USDT_Perp	+0.0028%	4h	2.6704	−0.041%	$41K	$133K	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	−1.067%	$37	$242K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6797	+0.305%	$321K	$325K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6692	−0.084%	$5K	$3	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6718	+0.010%	$58K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6708	−0.026%	$16.2M	$25.5M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6713	−0.007%	$8.6M	$9.0M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6728	+0.049%	$3.2M	$4.4M	20x	as long as short
Gate MORPHO_USDT	+0.0100%	4h	2.6706	−0.034%	$771K	$525K	50x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6709	−0.022%	$5.6M	$905K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6716	+0.004%	$601K	$262K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6707	−0.030%	$3.0M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6705	−0.037%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6695	−0.075%	$22K	$4K	5x	as long as short
Extended MORPHO-USDshort	+0.0104%	1h	2.6702	−0.047%	$102K	$362K	10x
GMX MORPHO/USD [ETH-USDC]	L +0.0187% / S −0.4126%	1h	2.6722	+0.027%	$1K	—	100x	as long as short
Hyperliquid MORPHO	+0.0358%	1h	2.6771	+0.210%	$6.3M	$7.0M	5x	as long as short