Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.029%
Price spread now: Bybit against Extended+0.004%7-day average +0.104% · you sell dearer than you buy
Net, funding: paid 7d − costs−$89as in the Funding arb table
Net, price: spread back to 7d avg − costs−$93as in the Price arb table
costs, in and out, $10k−$830.833% of the position
Funding, last 7 days−0.054%−$5 on $10k
+Price spread, last 7 days+0.392%+$39 · spread now +0.004%, 7d avg +0.104%
=Together, before fees+0.337%+ Points / potential airdropExtended: Active · farm board+$34 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.099% cheaper against Extended than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.104%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended MORPHO-USD | 2.6712 | 0.0104 | pay 0.0013% / 1h | 10m 35s | $102K | $362K | 10x |
| Short | Bybit MORPHOUSDT | 2.6713 | 0.0100 | get 0.0050% / 4h | 3h 10m | $8.6M | $9.0M | 25x |
Extended MORPHO-USD
Bybit MORPHOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Extended. 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
- −$0.84
- Price spread: +0.004% → +0.104%
- −$9.91
- Slippage, 4 orders
- −$67.3
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$94.06
- Costs to cover
- 0.833%
- Break-even
- never at this rate
Slippage from Extended: live order book, 62 min ago; Bybit: live order book, 3 min ago.
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 Extended live order book, 62 min ago | 2.45 bp | 22.4 bp −$22 | 197.4 bp −$1,974 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 3 min ago | 1.87 bp | 18.3 bp −$18 | 62.4 bp −$624 | doesn't fit | doesn't fit |
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 | −0.1825% | 1h | 2.6631 | −0.304% | $81K | $125K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0724% | 1h | 2.6666 | −0.172% | $11K | $785 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0432% | 1h | 2.6663 | −0.183% | $876 | $13K | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0280% | 1h | 2.6715 | +0.012% | $77K | $43K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6675 | −0.138% | $643K | $232K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0146% | 4h | 2.6671 | −0.153% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6758 | +0.173% | $44K | $474K | 5x | as long as short |
| Variational Omni MORPHO | −0.0029% | 4h | 2.6676 | −0.136% | $636K | $926K | — | as long as short |
| Polymarket Perps MORPHO-USD | −0.0010% | 1h | 2.6676 | −0.134% | $25K | $1.7M | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6673 | −0.144% | $16 | — | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDC
Phoenix MORPHO
Variational Omni MORPHO
Polymarket Perps MORPHO-USD
Reya MORPHORUSDPERPShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT MORPHO_USDT_Perp | +0.0028% | 4h | 2.6704 | −0.029% | $41K | $133K | 10x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | −1.055% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6803 | +0.341% | $321K | $325K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6692 | −0.072% | $5K | $3 | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6696 | −0.059% | $58K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6707 | −0.019% | $16.2M | $25.5M | 75x | as long as short |
| Bybit MORPHOUSDTshort | +0.0100% | 4h | 2.6713 | +0.004% | $8.6M | $9.0M | 25x | |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6713 | +0.004% | $3.2M | $4.3M | 20x | as long as short |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.6695 | −0.063% | $770K | $525K | 50x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6716 | +0.016% | $5.6M | $905K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6706 | −0.022% | $601K | $262K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6720 | +0.031% | $3.0M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6711 | −0.003% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6676 | −0.134% | $22K | $4K | 5x | as long as short |
| Extended MORPHO-USDlong | +0.0104% | 1h | 2.6712 | long leg | $102K | $362K | 10x | |
| GMX MORPHO/USD [ETH-USDC] | L +0.0187% / S −0.4126% | 1h | 2.6681 | −0.114% | $1K | — | 100x | as long as short |
| Hyperliquid MORPHO | +0.0356% | 1h | 2.6767 | +0.207% | $6.3M | $7.0M | 5x | as long as short |
GRVT MORPHO_USDT_Perp
Injective MORPHO/USDC PERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Aster MORPHOUSDT
Binance MORPHOUSDT
OKX MORPHO-USDT-SWAP
Gate MORPHO_USDT
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]
Hyperliquid MORPHO