MORPHO

Alert

Funding spread now, next payment 16:00 UTC+0.0420%/8h

next payment, per $10,000+$2.10paid, last 24h+0.064%paid, last 3 days+0.063%to open and closeno order book

The current rate is far above what this pair has been paying: over the last 3 days it paid 0.063% in total (about 7.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.10 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MORPHO_USDT	2.7379	−0.0320	get 0.0160% / 4h	21m 29s	$771K	$598K	50x
Short	Variational Omni MORPHO	2.7293	0.0100	get 0.0050% / 4h	21m 29s	$667K	$1.4M	—

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee GatebpFee Variational OmnibpOrdersRate

Funding earned: $88.2
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $73.2
Break-even: 1.2 days

Slippage unknown: Gate: live order book, 27 min ago; Variational Omni: RFQ quote, 4 min ago. Net counts fees only.

Price risk

price view

Price gap now: −0.315%
Avg gap 7d: +0.035%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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	10.15 bp	40.0 bp −$40	228.1 bp −$2,281	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	4.55 bp	doesn't fit	76.1 bp −$761	doesn't fit	doesn't fit

MORPHO on 26 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
01 Exchange MORPHOUSD	−0.1128%	1h	$896	$8K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1064%	1h	$11K	$443	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0366%	1h	$31K	$3.0M	5x	as long as short
Gate MORPHO_USDTlong	−0.0320%	4h	$771K	$598K	50x
BloFin MORPHO-USDT	−0.0200%	4h	$690K	$250K	20x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0144%	1h	$80K	$53K	25x	as long as short
Bybit MORPHOUSDT	−0.0131%	4h	$9.0M	$11.3M	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0107%	4h	$11K	$34K	10x	as long as short
Kraken Futures PF_MORPHOUSD	−0.0093%	1h	$99K	$188K	20x	as long as short
Phoenix MORPHO	−0.0029%	1h	$35K	$560K	5x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Reya MORPHORUSDPERP	−0.0004%	1h	$16	—	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	$38	$85K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	$321K	$503K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0099%	8h	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	$6.7M	$8.1M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	$60K	$34K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	$16.9M	$31.0M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	$3.2M	$5.8M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	$4.9M	$1.3M	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	$663K	$378K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	$3.0M	$2.6M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	—	$1.5M	—	as long as short
Variational Omni MORPHOshort	+0.0100%	4h	$667K	$1.4M	—
SoDEX MORPHO-USD	+0.0100%	1h	$23K	$2K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	$103K	$310K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0197% / S −0.0897%	1h	$2K	—	100x	as long as short