Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0316%/8h= −34.6% APRpaid last 24h +0.065%

Price spread now: Coinbase International against Gate−0.012%7-day average — · you buy dearer than you sell

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

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.370%+$37 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$9 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.370%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MORPHO_USDT	2.5923	0.0100	pay 0.0050% / 4h	2h 19m	$757K	$497K	50x
Short	Coinbase International MORPHO-PERP-INTX	2.5920	−0.0216	pay 0.0027% / 1h	19m 05s	$73K	$39K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Gate. 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 GatebpFee Coinbase InternationalbpOrdersPrice spread, now −0.012%Rate

Funding earned: −$66.36
Price spread: −0.012% → 0.000%: −$1.16
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$92.52
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 27 min ago; Coinbase International: 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 Gate live order book, 27 min ago	1.74 bp	49.9 bp −$50	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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	−0.1559%	1h	2.5896	−0.104%	$80K	$127K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1291%	1h	2.5921	−0.008%	$11K	$2K	10x	as long as short
01 Exchange MORPHOUSD	−0.0832%	1h	2.5891	−0.123%	$851	$9K	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0340%	4h	2.5827	−0.371%	$32K	$134K	10x	as long as short
Coinbase International MORPHO-PERP-INTXshort	−0.0216%	1h	2.5920	−0.012%	$73K	$39K	25x
BloFin MORPHO-USDT	−0.0200%	4h	2.5903	−0.077%	$631K	$239K	20x	as long as short
Phoenix MORPHO	−0.0154%	1h	2.5939	+0.062%	$33K	$330K	5x	as long as short
Orderly PERP_MORPHO_USDC	−0.0128%	4h	2.5924	+0.004%	$10K	$34K	10x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.5919	−0.015%	$16	—	10x	as long as short
Polymarket Perps MORPHO-USD	+0.0027%	1h	2.5926	+0.012%	$25K	$1.5M	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+1.956%	$37	$242K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	2.5925	+0.008%	$312K	$295K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.5928	+0.021%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.5966	+0.166%	$5.9M	$6.9M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.5922	−0.004%	$57K	$31K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.5915	−0.029%	$15.7M	$24.2M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.5937	+0.054%	$8.0M	$8.5M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.5950	+0.104%	$3.2M	$4.0M	20x	as long as short
Gate MORPHO_USDTlong	+0.0100%	4h	2.5923	long leg	$757K	$497K	50x
MEXC MORPHO_USDT	+0.0100%	4h	2.5922	−0.004%	$6.2M	$911K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.5933	+0.039%	$597K	$246K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.5940	+0.066%	$2.8M	$1.6M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.5942	+0.073%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.5880	−0.164%	$615K	$677K	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.5911	−0.046%	$21K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.5904	−0.074%	$104K	$343K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0146% / S +0.0040%	1h	2.5947	+0.094%	$6K	—	100x	as long as short