MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.1198%/8h= +131.2% APRnext payment +$1.50 per $10,000 · paid last 24h 0.000%

Price spread now: Polymarket Perps against Coinbase International+1.196%7-day average — · you sell dearer than you buy

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

Long on Coinbase International Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.344%−$34 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$36 a day on $10k at the current rate, and Polymarket Perps is 1.196% dearer against Coinbase International than usual: you sell high and buy low: +$120 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.344%, 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 -0.344% in total (about -17.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.50 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MORPHO-PERP-INTX	2.5413	−0.1248	get 0.0156% / 1h	30m 01s	$52K	$54K	25x
Short	Polymarket Perps MORPHO-USD	2.5717	−0.0050	pay 0.0006% / 1h	30m 01s	$25K	$1.1M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +1.196%Rate

Funding earned: $251.55
Price spread: +1.196% → 0.000%: $119.62
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $353.17
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Coinbase International: no order-book sample; Polymarket Perps: live order book, 1 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 Polymarket Perps live order book, 1 min ago	1.17 bp	8.6 bp −$9	9.2 bp −$92	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 exchanges

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
Coinbase International MORPHO-PERP-INTXlong	−0.1248%	1h	2.5413	long leg	$52K	$54K	25x
Deribit MORPHO_USDC-PERPETUAL	−0.1071%	1h	2.5706	+1.153%	$10K	$3K	10x	as long as short
01 Exchange MORPHOUSD	−0.0824%	1h	2.5661	+0.976%	$2K	$10K	5x	as long as short
Kraken Futures PF_MORPHOUSD	−0.0493%	1h	2.5696	+1.113%	$82K	$134K	20x	as long as short
Bybit MORPHOUSDT	−0.0295%	4h	2.5700	+1.129%	$7.7M	$7.4M	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0285%	4h	2.5700	+1.129%	$10K	$33K	10x	as long as short
GRVT MORPHO_USDT_Perp	−0.0214%	4h	2.5697	+1.116%	$38K	$114K	10x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.5697	+1.118%	$637K	$225K	20x	as long as short
Variational Omni MORPHO	−0.0143%	4h	2.5694	+1.106%	$611K	$202K	—	as long as short
Polymarket Perps MORPHO-USDshort	−0.0050%	1h	2.5717	+1.196%	$25K	$1.1M	5x

Show all 27 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix MORPHO	−0.0031%	1h	2.5723	+1.220%	$33K	$287K	5x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.5690	+1.089%	$15	—	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+4.002%	$37	$242K	5.5x	as long as short
Aster MORPHOUSDT	+0.0069%	4h	2.5770	+1.404%	$56K	$51K	20x	as long as short
Lighter MORPHO	+0.0096%	1h	2.5733	+1.261%	$308K	$246K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.5688	+1.080%	$5K	$200	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.5749	+1.321%	$5.9M	$6.4M	5x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.5692	+1.098%	$15.3M	$22.4M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.5703	+1.141%	$3.1M	$4.1M	20x	as long as short
Gate MORPHO_USDT	+0.0100%	4h	2.5706	+1.153%	$752K	$459K	50x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.5697	+1.118%	$6.5M	$968K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.5710	+1.169%	$592K	$255K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.5698	+1.121%	$2.7M	$1.7M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.5694	+1.106%	—	$1.5M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.5699	+1.125%	$21K	$5K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.5691	+1.094%	$105K	$378K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0187% / S −20.5458%	1h	2.5722	+1.214%	$2K	—	100x	as long as short