MORPHO

Alert

Funding spread now, next payment 15:00 UTC+0.1042%/8h

next payment, per $10,000+$1.30paid, last 24h+0.185%paid, last 3 days+0.496%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MORPHO_USDC-PERPETUAL	2.7554	−0.0946	get 0.0118% / 1h	2m 16s	$11K	$443	10x
Short	Lighter MORPHO	2.7599	0.0096	get 0.0012% / 1h	2m 16s	$332K	$487K	5x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee DeribitbpFee LighterbpOrdersRate

Funding earned: $218.87
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: $211.87
Break-even: 0.2 days

Slippage unknown: Deribit: no order-book sample; Lighter: live order book, 44 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.164%
Avg gap 7d: —

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Lighter live order book, 44 min ago	4.60 bp	10.1 bp −$10	137.4 bp −$1,374	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 26 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
01 Exchange MORPHOUSD	−0.1272%	1h	$904	$8K	5x	as long as short
Deribit MORPHO_USDC-PERPETUALlong	−0.0946%	1h	$11K	$443	10x
Kraken Futures PF_MORPHOUSD	−0.0371%	1h	$99K	$190K	20x	as long as short
Gate MORPHO_USDT	−0.0328%	4h	$777K	$593K	50x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	$683K	$256K	20x	as long as short
Polymarket Perps MORPHO-USD	−0.0172%	1h	$30K	$3.0M	5x	as long as short
Bybit MORPHOUSDT	−0.0152%	4h	$9.0M	$11.0M	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0071%	4h	$11K	$34K	10x	as long as short
Phoenix MORPHO	−0.0058%	1h	$36K	$514K	5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0032%	1h	$80K	$53K	25x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Reya MORPHORUSDPERP	−0.0004%	1h	$17	—	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	$38	$137K	5.5x	as long as short
Lighter MORPHOshort	+0.0096%	1h	$332K	$487K	5x
Paradex MORPHO-USD-PERP	+0.0100%	8h	$5K	$3	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	$60K	$34K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	$16.9M	$30.4M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	$3.3M	$5.8M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	$4.9M	$1.4M	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	$627K	$367K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	$3.0M	$2.6M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	—	$1.5M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	$675K	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	$23K	$2K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	$104K	$310K	10x	as long as short
Hyperliquid MORPHO	+0.0113%	1h	$6.7M	$8.1M	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0197% / S −0.0897%	1h	$2K	—	100x	as long as short