Funding you earn now, next payment 02:00 UTC−0.0020%/8h= −2.2% APRnext payment −$0.03 per $10,000 · paid last 24h +0.092%
Price spread now: 01 Exchange against Deribit−0.137%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 −$1 a day on $10k at the current rate, and 01 Exchange is 0.137% cheaper against Deribit than usual: you would sell low and buy high (−$14 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 | 2.6239 | −0.0436 | get 0.0054% / 1h | 21m 13s | $11K | $785 | 10x |
| Short | 01 Exchange MORPHOUSD | 2.6203 | −0.0456 | pay 0.0057% / 1h | 21m 13s | $861 | $10K | 5x |
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
01 Exchange 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
- −$4.3
- Price spread: −0.137% → 0.000%
- −$13.72
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee 01 Exchange: 3.5 bp × 2 orders
- −$7
- Net
- −$32.02
- Costs to cover
- 0.140%
- Break-even
- never at this rate
Slippage unknown: Deribit: no order-book sample; 01 Exchange: 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 01 Exchange no order-book sample | — | — | — | — | — |
Deribit and 01 Exchange: 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 | −0.1913% | 1h | 2.6186 | −0.203% | $80K | $128K | 20x | as long as short |
| 01 Exchange MORPHOUSDshort | −0.0456% | 1h | 2.6203 | −0.137% | $861 | $10K | 5x | |
| Deribit MORPHO_USDC-PERPETUALlong | −0.0436% | 1h | 2.6239 | long leg | $11K | $785 | 10x | |
| Coinbase International MORPHO-PERP-INTX | −0.0232% | 1h | 2.6299 | +0.229% | $75K | $42K | 25x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0154% | 4h | 2.6234 | −0.019% | $10K | $34K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0111% | 1h | 2.6236 | −0.011% | $28K | $1.8M | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6229 | −0.037% | $16 | — | 10x | as long as short |
| GRVT MORPHO_USDT_Perp | +0.0018% | 4h | 2.6269 | +0.113% | $32K | $142K | 10x | as long as short |
| Phoenix MORPHO | +0.0030% | 1h | 2.6252 | +0.050% | $43K | $426K | 5x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +0.728% | $37 | $242K | 5.5x | as long as short |
Kraken Futures PF_MORPHOUSD
Coinbase International MORPHO-PERP-INTX
Orderly PERP_MORPHO_USDC
Polymarket Perps MORPHO-USD
Reya MORPHORUSDPERP
GRVT MORPHO_USDT_Perp
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 | +0.0084% | 4h | 2.6262 | +0.088% | $765K | $505K | 50x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6265 | +0.100% | $314K | $319K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6203 | −0.139% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6280 | +0.156% | $6.2M | $7.0M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6235 | −0.016% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6225 | −0.055% | $15.8M | $25.2M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6240 | +0.004% | $8.3M | $9.3M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6232 | −0.027% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6228 | −0.042% | $5.5M | $888K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6265 | +0.099% | $596K | $255K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6258 | +0.072% | $2.9M | $1.7M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6233 | −0.023% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6281 | +0.159% | $626K | $912K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6229 | −0.038% | $22K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6236 | −0.012% | $101K | $355K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6233 | −0.024% | $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
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]