MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0228%/8h= +24.9% APRnext payment +$0.28 per $10,000 · paid last 24h −0.060%

Price spread now: Reya against Coinbase International−0.585%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 Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

Funding pays, the price is against you. Reya is 0.585% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.585% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$59 on $10k: about 8.6 days of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MORPHO-PERP-INTX	2.6471	−0.0232	get 0.0029% / 1h	48m 25s	$76K	$43K	25x
Short	Reya MORPHORUSDPERP	2.6316	−0.0004	pay 0.0001% / 1h	48m 25s	$16	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.585%Rate

Funding earned: $47.78
Price spread: −0.585% → 0.000%: −$58.51
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$26.73
Costs to cover: 0.160%
Break-even: 10.9 days

Slippage unknown: Coinbase International: no order-book sample; Reya: 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Reya no order-book sample	—	—	—	—	—

Coinbase International and Reya: 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	−0.1905%	1h	2.6297	−0.657%	$80K	$126K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0736%	1h	2.6337	−0.506%	$11K	$785	10x	as long as short
01 Exchange MORPHOUSD	−0.0568%	1h	2.6340	−0.495%	$866	$11K	5x	as long as short
BloFin MORPHO-USDT	−0.0237%	4h	2.6347	−0.468%	$643K	$238K	20x	as long as short
Coinbase International MORPHO-PERP-INTXlong	−0.0232%	1h	2.6471	long leg	$76K	$43K	25x
Orderly PERP_MORPHO_USDC	−0.0150%	4h	2.6337	−0.506%	$10K	$34K	10x	as long as short
GRVT MORPHO_USDT_Perp	−0.0116%	4h	2.6313	−0.596%	$40K	$133K	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0112%	1h	2.6355	−0.438%	$45K	$1.8M	5x	as long as short
Reya MORPHORUSDPERPshort	−0.0004%	1h	2.6316	−0.585%	$16	—	10x
Gate MORPHO_USDT	+0.0018%	4h	2.6372	−0.374%	$759K	$494K	50x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix MORPHO	+0.0030%	1h	2.6422	−0.185%	$43K	$426K	5x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	−0.155%	$37	$242K	5.5x	as long as short
Variational Omni MORPHO	+0.0062%	4h	2.6331	−0.529%	$627K	$925K	—	as long as short
Lighter MORPHO	+0.0096%	1h	2.6482	+0.040%	$317K	$319K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6346	−0.472%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6389	−0.310%	$6.2M	$6.9M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6384	−0.327%	$58K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6338	−0.502%	$15.9M	$25.1M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6339	−0.499%	$8.3M	$9.2M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6346	−0.472%	$3.2M	$4.3M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6338	−0.502%	$5.5M	$874K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6383	−0.332%	$596K	$256K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6341	−0.491%	$2.9M	$1.7M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6336	−0.510%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6338	−0.502%	$22K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6331	−0.528%	$101K	$358K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0186% / S −0.4126%	1h	2.6338	−0.503%	$1K	—	100x	as long as short