Funding you earn now, next payment 02:00 UTC+0.0952%/8h= +104.2% APRpaid last 24h +0.286%
Price spread now: MEXC against Deribit+0.038%52s7-day average — · you sell dearer than you buy
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 for this trade now. Funding pays +$29 a day on $10k at the current rate, and MEXC is 0.038% dearer against Deribit than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit MORPHO_USDC-PERPETUAL | 2.6289 | −0.0852 | get 0.0106% / 1h | 59m 26s | $11K | $955 | 10x |
| Short | MEXC MORPHO_USDT | 2.6299 | 0.0100 | get 0.0050% / 4h | 1h 59m | $5.8M | $829K | 100x |
Deribit MORPHO_USDC-PERPETUAL
MEXC MORPHO_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- $199.9
- Price spread: +0.038% → 0.000%
- $3.8
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee MEXC: 2 bp × 2 orders
- −$4
- Net
- $192.7
- Costs to cover
- 0.110%
- Break-even
- 0.3 days
Slippage unknown: Deribit: no order-book sample; MEXC: live order book, 3 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 MEXC live order book, 3 min ago | 0.76 bp | 6.5 bp −$7 | 46.1 bp −$461 | 168.7 bp −$16.9K | 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: 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 | −0.1907% | 1h | 2.6273 | −0.061% | $82K | $130K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUALlong | −0.0852% | 1h | 2.6289 | long leg | $11K | $955 | 10x | |
| 01 Exchange MORPHOUSD | −0.0568% | 1h | 2.6265 | −0.091% | $863 | $8K | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0232% | 1h | 2.6318 | +0.110% | $75K | $42K | 25x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0227% | 1h | 2.6304 | +0.057% | $25K | $1.8M | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0153% | 4h | 2.6273 | −0.061% | $10K | $34K | 10x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0092% | 4h | 2.6213 | −0.289% | $32K | $142K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6291 | +0.009% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | +0.0030% | 1h | 2.6283 | −0.023% | $43K | $369K | 5x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +0.536% | $37 | $242K | 5.5x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Coinbase International MORPHO-PERP-INTX
Polymarket Perps MORPHO-USD
Orderly PERP_MORPHO_USDC
GRVT MORPHO_USDT_Perp
Reya MORPHORUSDPERP
Phoenix MORPHO
Injective MORPHO/USDC PERPShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | +0.0058% | 4h | 2.6315 | +0.099% | $759K | $503K | 50x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6333 | +0.169% | $316K | $308K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6308 | +0.073% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6360 | +0.270% | $6.2M | $7.0M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6320 | +0.118% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6303 | +0.054% | $15.9M | $25.7M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6310 | +0.080% | $8.4M | $9.4M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6310 | +0.080% | $3.2M | $4.4M | 20x | as long as short |
| MEXC MORPHO_USDTshort | +0.0100% | 4h | 2.6299 | +0.038% | $5.8M | $829K | 100x | |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6323 | +0.129% | $599K | $256K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6302 | +0.049% | $2.8M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6320 | +0.118% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6270 | −0.071% | $626K | $909K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6272 | −0.065% | $22K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6307 | +0.070% | $101K | $351K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6300 | +0.043% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]