Funding you earn now, next payment 22:00 UTC−0.0108%/8h= −11.9% APRnext payment −$0.14 per $10,000 · paid last 24h −0.031%
Price spread now: Reya against Extended+0.054%7-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—+ Points / potential airdropExtended: Active · Reya: Active · farm boardneeds both histories
The price spread pays, funding is against you. Reya is 0.054% dearer against Extended than usual: you sell high and buy low (spread +0.054% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 40 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended MORPHO-USD | 2.6489 | 0.0104 | pay 0.0013% / 1h | 6m 08s | $103K | $301K | 10x |
| Short | Reya MORPHORUSDPERP | 2.6503 | −0.0004 | pay 0.0001% / 1h | 6m 08s | $16 | — | 10x |
Extended MORPHO-USD
Reya MORPHORUSDPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Reya 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
- −$22.77
- Price spread: +0.054% → 0.000%
- $5.43
- Slippage, 4 orders
- no order book: not counted
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Reya: 3 bp × 2 orders
- −$6
- Net
- −$28.33
- Costs to cover
- 0.110%
- Break-even
- never at this rate
Slippage unknown: Extended: live order book, 16 min ago; Reya: 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 Extended live order book, 16 min ago | 2.07 bp | 21.5 bp −$21 | 167.1 bp −$1,671 | doesn't fit | doesn't fit |
| Sell Reya no order-book sample | — | — | — | — | — |
Reya: 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 | −0.2055% | 1h | 2.6526 | +0.143% | $83K | $148K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1520% | 1h | 2.6500 | +0.043% | $11K | $911 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0944% | 1h | 2.6418 | −0.266% | $868 | $13K | 5x | as long as short |
| Bybit MORPHOUSDT | −0.0535% | 4h | 2.6510 | +0.081% | $8.6M | $9.7M | 25x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0503% | 1h | 2.6498 | +0.036% | $26K | $1.8M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0482% | 4h | 2.6518 | +0.111% | $29K | $154K | 10x | as long as short |
| Injective MORPHO/USDC PERP | −0.0385% | 1h | 2.6610 | +0.458% | $37 | $198K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0296% | 1h | 2.6617 | +0.485% | $77K | $45K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6505 | +0.062% | $647K | $221K | 20x | as long as short |
| Gate MORPHO_USDT | −0.0180% | 4h | 2.6536 | +0.179% | $774K | $548K | 50x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Bybit MORPHOUSDT
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Gate MORPHO_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_MORPHO_USDC | −0.0167% | 4h | 2.6506 | +0.066% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6540 | +0.194% | $34K | $493K | 5x | as long as short |
| Reya MORPHORUSDPERPshort | −0.0004% | 1h | 2.6503 | +0.054% | $16 | — | 10x | |
| Lighter MORPHO | +0.0096% | 1h | 2.6545 | +0.214% | $316K | $340K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6485 | −0.013% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6567 | +0.298% | $6.2M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6558 | +0.262% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6499 | +0.041% | $16.2M | $26.6M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6512 | +0.089% | $3.2M | $4.4M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6502 | +0.051% | $5.5M | $1.2M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6527 | +0.145% | $620K | $268K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6520 | +0.119% | $2.9M | $1.9M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6516 | +0.104% | — | $1.5M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6494 | +0.022% | $644K | $1.2M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6500 | +0.043% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USDlong | +0.0104% | 1h | 2.6489 | long leg | $103K | $301K | 10x | |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6547 | +0.220% | $1K | — | 100x | as long as short |
Orderly PERP_MORPHO_USDC
Phoenix MORPHO
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]