MORPHO

Alert

Funding spread now, next payment 19:00 UTC+0.0810%/8h

paid, last 24h+0.172%paid, last 3 days+0.172%to open and closeno order book

The current rate is far above what this pair has been paying: over the last 3 days it paid 0.172% in total (about 21.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MORPHO_USDC-PERPETUAL	2.6774	−0.1018	get 0.0127% / 1h	37m 01s	$10K	$745	10x
Short	Orderly PERP_MORPHO_USDC	2.6773	−0.0209	pay 0.0104% / 4h	1h 37m	$10K	$34K	10x

Funding history

latest

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee DeribitbpFee OrderlybpOrdersRate

Funding earned: $170
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: $157
Break-even: 0.5 days

Slippage unknown: Deribit: no order-book sample; Orderly: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: −0.004%
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 Orderly no order-book sample	—	—	—	—	—

Deribit and Orderly: 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
Kraken Futures PF_MORPHOUSD	−0.2235%	1h	$84K	$165K	20x	as long as short
Deribit MORPHO_USDC-PERPETUALlong	−0.1018%	1h	$10K	$745	10x
Gate MORPHO_USDT	−0.0598%	4h	$772K	$538K	50x	as long as short
01 Exchange MORPHOUSD	−0.0544%	1h	$879	$12K	5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0352%	1h	$78K	$47K	25x	as long as short
Polymarket Perps MORPHO-USD	−0.0316%	1h	$27K	$2.7M	5x	as long as short
Orderly PERP_MORPHO_USDCshort	−0.0209%	4h	$10K	$34K	10x
Bybit MORPHOUSDT	−0.0162%	4h	$8.8M	$10.3M	25x	as long as short
BloFin MORPHO-USDT	−0.0133%	4h	$666K	$205K	20x	as long as short
Phoenix MORPHO	−0.0030%	1h	$35K	$478K	5x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Reya MORPHORUSDPERP	−0.0004%	1h	$16	—	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	$38	$34K	5.5x	as long as short
Extended MORPHO-USD	+0.0064%	1h	$101K	$304K	10x	as long as short
MEXC MORPHO_USDT	+0.0066%	4h	$4.8M	$1.2M	100x	as long as short
Binance MORPHOUSDT	+0.0067%	4h	$16.5M	$27.3M	75x	as long as short
Lighter MORPHO	+0.0096%	1h	$320K	$364K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	$5K	$3	5x	as long as short
Variational Omni MORPHO	+0.0100%	4h	$654K	$1.4M	—	as long as short
Hyperliquid MORPHO	+0.0100%	1h	$6.4M	$7.1M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	$58K	$32K	20x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	$3.2M	$4.6M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	$598K	$345K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	$2.9M	$2.1M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	—	$1.5M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	$22K	$2K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0158% / S −0.0698%	1h	$2K	—	100x	as long as short