Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.1309%/8h= +143.4% APRpaid last 24h +0.283%

Price spread now: Paradex against Deribit−0.021%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Paradex

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 airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.021% cheaper against Deribit than usual: you would sell low and buy high (spread −0.021% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 1 hour of funding at the current rate (+$39 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MORPHO_USDC-PERPETUAL	2.6002	−0.1209	get 0.0151% / 1h	27m 14s	$11K	$2K	10x
Short	Paradex MORPHO-USD-PERP	2.5997	0.0100	get 0.0100% / 8h	3h 27m	$5K	$3	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 DeribitbpFee ParadexbpOrdersPrice spread, now −0.021%Rate

Funding earned: $274.95
Price spread: −0.021% → 0.000%: −$2.09
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: $261.86
Costs to cover: 0.110%
Break-even: 0.3 days

Slippage unknown: Deribit: no order-book sample; Paradex: 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 Deribit no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

Deribit and Paradex: 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	−0.2172%	1h	2.5986	−0.062%	$81K	$124K	20x	as long as short
Deribit MORPHO_USDC-PERPETUALlong	−0.1209%	1h	2.6002	long leg	$11K	$2K	10x
01 Exchange MORPHOUSD	−0.0936%	1h	2.5958	−0.169%	$853	$9K	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0490%	4h	2.5997	−0.018%	$34K	$140K	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0216%	1h	2.6099	+0.373%	$75K	$41K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6009	+0.027%	$636K	$241K	20x	as long as short
Polymarket Perps MORPHO-USD	−0.0179%	1h	2.6025	+0.088%	$24K	$1.5M	5x	as long as short
Orderly PERP_MORPHO_USDC	−0.0134%	4h	2.6006	+0.015%	$10K	$34K	10x	as long as short
Bybit MORPHOUSDT	−0.0127%	4h	2.6010	+0.031%	$8.1M	$8.5M	25x	as long as short
Phoenix MORPHO	−0.0061%	1h	2.6042	+0.154%	$43K	$337K	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya MORPHORUSDPERP	−0.0005%	1h	2.6000	−0.006%	$16	—	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+1.646%	$37	$242K	5.5x	as long as short
Gate MORPHO_USDT	+0.0092%	4h	2.6013	+0.042%	$763K	$471K	50x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6037	+0.134%	$313K	$293K	5x	as long as short
Paradex MORPHO-USD-PERPshort	+0.0100%	8h	2.5997	−0.021%	$5K	$3	5x
Hyperliquid MORPHO	+0.0100%	1h	2.6058	+0.215%	$6.0M	$6.8M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6044	+0.163%	$57K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6000	−0.009%	$15.7M	$24.0M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6033	+0.119%	$3.2M	$4.0M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6000	−0.008%	$6.0M	$836K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6043	+0.158%	$598K	$249K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6002	0.000%	$2.8M	$1.6M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6014	+0.046%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6040	+0.148%	$620K	$675K	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6000	−0.008%	$21K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.5999	−0.010%	$101K	$344K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0186% / S −15.6829%	1h	2.6037	+0.136%	$1K	—	100x	as long as short