MORPHO

Alert

Funding spread now, next payment 17:00 UTC+0.1156%/8h

paid, last 24h−0.146%paid, last 7 days+0.060%to open and close $10k−$132

The current rate is far above what this pair has been paying: over the last 7 days it paid 0.060% in total (about 3.1% a year). A funding rate is set anew for every payment. 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	Kraken Futures PF_MORPHOUSD	2.7253	−0.1056	get 0.0132% / 1h	18m 21s	$99K	$183K	20x
Short	BingX MORPHO-USDT	2.7246	0.0100	get 0.0050% / 4h	3h 18m	—	$1.5M	—

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee BingXbpOrdersRate

Funding earned: $242.66
Slippage, 4 orders: −$111.77
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: $110.89
Break-even: 3.8 days

Slippage from Kraken Futures: live order book, 26 min ago; BingX: live order book, 5 min ago.

Price risk

price view

Price gap now: −0.025%
Avg gap 7d: −0.022%

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 Kraken Futures live order book, 26 min ago	19.30 bp	38.4 bp −$38	3346.0 bp −$33.5K	doesn't fit	doesn't fit
Sell BingX live order book, 5 min ago	3.48 bp	17.4 bp −$17	42.4 bp −$424	265.6 bp −$26.6K	596.4 bp −$298.2K

MORPHO on 26 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Kraken Futures PF_MORPHOUSDlong	−0.1056%	1h	$99K	$183K	20x
Deribit MORPHO_USDC-PERPETUAL	−0.0923%	1h	$11K	$443	10x	as long as short
01 Exchange MORPHOUSD	−0.0736%	1h	$894	$10K	5x	as long as short
Gate MORPHO_USDT	−0.0508%	4h	$763K	$574K	50x	as long as short
Polymarket Perps MORPHO-USD	−0.0338%	1h	$28K	$3.0M	5x	as long as short
Bybit MORPHOUSDT	−0.0336%	4h	$9.0M	$11.1M	25x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0256%	1h	$79K	$51K	25x	as long as short
BloFin MORPHO-USDT	−0.0168%	4h	$680K	$245K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0146%	4h	$11K	$34K	10x	as long as short
Phoenix MORPHO	−0.0146%	1h	$35K	$554K	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	$34K	5.5x	as long as short
Binance MORPHOUSDT	+0.0079%	4h	$16.8M	$30.4M	75x	as long as short
Extended MORPHO-USD	+0.0080%	1h	$102K	$304K	10x	as long as short
MEXC MORPHO_USDT	+0.0084%	4h	$4.9M	$1.3M	100x	as long as short
Lighter MORPHO	+0.0096%	1h	$321K	$476K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0099%	8h	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	$6.6M	$7.9M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	$60K	$34K	20x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	$3.2M	$5.6M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	$660K	$380K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	$3.0M	$2.6M	75x	as long as short
BingX MORPHO-USDTshort	+0.0100%	4h	—	$1.5M	—
Variational Omni MORPHO	+0.0100%	4h	$666K	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	$23K	$2K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0197% / S −0.0897%	1h	$2K	—	100x	as long as short