Funding you earn now, next payment 02:00 UTC−0.1204%/8h= −131.9% APRnext payment −$1.51 per $10,000 · paid last 24h +0.305%
Price spread now: Kraken Futures against Deribit−0.045%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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—needs both histories
Both sides work against this trade now: funding costs −$36 a day on $10k at the current rate, and Kraken Futures is 0.045% cheaper against Deribit than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit MORPHO_USDC-PERPETUAL | 2.6343 | −0.0698 | get 0.0087% / 1h | 45m 52s | $11K | $785 | 10x |
| Short | Kraken Futures PF_MORPHOUSD | 2.6331 | −0.1903 | pay 0.0238% / 1h | 45m 52s | $80K | $126K | 20x |
Deribit MORPHO_USDC-PERPETUAL
Kraken Futures PF_MORPHOUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Deribit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$252.94
- Price spread: −0.045% → 0.000%
- −$4.46
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$274.4
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Deribit: no order-book sample; Kraken Futures: live order book, 21 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 Deribit no order-book sample | — | — | — | — | — |
| Sell Kraken Futures live order book, 21 min ago | 18.16 bp | 78.2 bp −$78 | 155.5 bp −$1,555 | doesn't fit | doesn't fit |
Deribit: 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_MORPHOUSDshort | −0.1903% | 1h | 2.6331 | −0.045% | $80K | $126K | 20x | |
| Deribit MORPHO_USDC-PERPETUALlong | −0.0698% | 1h | 2.6343 | long leg | $11K | $785 | 10x | |
| 01 Exchange MORPHOUSD | −0.0552% | 1h | 2.6325 | −0.068% | $865 | $11K | 5x | as long as short |
| BloFin MORPHO-USDT | −0.0237% | 4h | 2.6347 | +0.015% | $643K | $238K | 20x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0232% | 1h | 2.6471 | +0.486% | $76K | $43K | 25x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0151% | 4h | 2.6327 | −0.061% | $10K | $34K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0139% | 1h | 2.6340 | −0.011% | $41K | $1.8M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0070% | 4h | 2.6366 | +0.087% | $40K | $133K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6333 | −0.038% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | +0.0030% | 1h | 2.6422 | +0.300% | $43K | $426K | 5x | as long as short |
01 Exchange MORPHOUSD
BloFin MORPHO-USDT
Coinbase International MORPHO-PERP-INTX
Orderly PERP_MORPHO_USDC
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Reya MORPHORUSDPERP
Phoenix MORPHOShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +0.330% | $37 | $242K | 5.5x | as long as short |
| Gate MORPHO_USDT | +0.0044% | 4h | 2.6365 | +0.084% | $759K | $495K | 50x | as long as short |
| Variational Omni MORPHO | +0.0082% | 4h | 2.6341 | −0.008% | $627K | $924K | — | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6426 | +0.314% | $317K | $319K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6344 | +0.002% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6350 | +0.027% | $6.2M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6343 | −0.001% | $58K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6303 | −0.153% | $15.9M | $25.2M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6318 | −0.095% | $8.3M | $9.3M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6311 | −0.121% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6314 | −0.110% | $5.5M | $874K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6365 | +0.084% | $595K | $255K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6334 | −0.034% | $2.9M | $1.7M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6310 | −0.125% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6330 | −0.049% | $22K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6321 | −0.085% | $101K | $358K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −0.4126% | 1h | 2.6349 | +0.024% | $1K | — | 100x | as long as short |
Injective MORPHO/USDC PERP
Gate MORPHO_USDT
Variational Omni MORPHO
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]