Funding you earn now, next payment 06:00 UTC−0.0066%/8h= −7.3% APRpaid last 24h −0.020%
Price spread now: Polymarket Perps against Gate+0.066%7-day average +0.044% · you sell dearer than you buy
Net, funding: paid 7d − costs−$112as in the Funding arb table
Net, price: spread back to 7d avg − costs−$107as in the Price arb table
costs, in and out, $10k−$1091.095% of the position
Funding, last 7 days−0.029%−$3 on $10k
+Price spread, last 4 days (all we have)−0.118%−$12 · spread now +0.066%, 7d avg +0.044%
=The price spread pays, funding is against you. Polymarket Perps is 0.022% dearer against Gate than usual: you sell high and buy low (spread +0.066% now, against its 7-day average of +0.044%): +$2 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 26 hours. At the pace of the last 7 days (−0.029% in total) that is about 5.4 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate MORPHO_USDT | 2.5921 | 0.0100 | pay 0.0050% / 4h | 2h 20m | $757K | $497K | 50x |
| Short | Polymarket Perps MORPHO-USD | 2.5938 | 0.0034 | get 0.0004% / 1h | 20m 10s | $25K | $1.5M | 5x |
Gate MORPHO_USDT
Polymarket Perps MORPHO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket Perps against Gate. 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
- −$13.94
- Price spread: +0.066% → +0.044%
- $2.2
- Slippage, 4 orders
- −$86.48
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$121.22
- Costs to cover
- 1.095%
- Break-even
- never at this rate
Slippage from Gate: live order book, 26 min ago; Polymarket Perps: 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 Gate live order book, 26 min ago | 1.74 bp | 49.9 bp −$50 | doesn't fit | doesn't fit | doesn't fit |
| Sell Polymarket Perps live order book, 3 min ago | 2.32 bp | 6.3 bp −$6 | 6.5 bp −$65 | 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 | −0.1566% | 1h | 2.5774 | −0.568% | $81K | $132K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1448% | 1h | 2.5871 | −0.193% | $11K | $2K | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0840% | 1h | 2.5903 | −0.069% | $851 | $9K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0340% | 4h | 2.5827 | −0.364% | $32K | $134K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0216% | 1h | 2.5950 | +0.112% | $73K | $39K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.5869 | −0.201% | $630K | $238K | 20x | as long as short |
| Phoenix MORPHO | −0.0154% | 1h | 2.5885 | −0.139% | $33K | $330K | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0128% | 4h | 2.5877 | −0.170% | $10K | $34K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.5938 | +0.067% | $16 | — | 10x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +1.964% | $37 | $242K | 5.5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Phoenix MORPHO
Orderly PERP_MORPHO_USDC
Reya MORPHORUSDPERP
Injective MORPHO/USDC PERPShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Polymarket Perps MORPHO-USDshort | +0.0034% | 1h | 2.5938 | +0.066% | $25K | $1.5M | 5x | |
| Lighter MORPHO | +0.0096% | 1h | 2.5846 | −0.291% | $311K | $295K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5947 | +0.101% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.5954 | +0.127% | $5.9M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.5828 | −0.361% | $57K | $31K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.5830 | −0.351% | $15.6M | $24.1M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.5850 | −0.274% | $8.0M | $8.5M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.5865 | −0.216% | $3.2M | $4.0M | 20x | as long as short |
| Gate MORPHO_USDTlong | +0.0100% | 4h | 2.5921 | long leg | $757K | $497K | 50x | |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.5859 | −0.239% | $6.2M | $911K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.5840 | −0.312% | $594K | $246K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5895 | −0.100% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5929 | +0.031% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.5880 | −0.156% | $615K | $677K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.5802 | −0.459% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.5886 | −0.134% | $104K | $343K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0147% / S +0.0040% | 1h | 2.5952 | +0.121% | $6K | — | 100x | as long as short |
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]