MORPHO

Alert

Funding spread now, next payment 18:00 UTC+0.1037%/8h

next payment, per $10,000+$1.30paid, last 24h−0.137%paid, last 3 days−0.058%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 -0.058% in total (about -7.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.30 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	Kraken Futures PF_MORPHOUSD	2.6675	−0.0937	get 0.0117% / 1h	10m 11s	$85K	$166K	20x
Short	SoDEX MORPHO-USD	2.6723	0.0100	get 0.0013% / 1h	10m 11s	$22K	$2K	5x

Funding history

latest

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee SoDEXbpOrdersRate

Funding earned: $217.7
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $199.7
Break-even: 0.6 days

Slippage unknown: Kraken Futures: live order book, 29 min ago; SoDEX: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: +0.179%
Avg gap 7d: —

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, 29 min ago	17.85 bp	27.3 bp −$27	2527.7 bp −$25.3K	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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 26 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Kraken Futures PF_MORPHOUSDlong	−0.0937%	1h	$85K	$166K	20x
Deribit MORPHO_USDC-PERPETUAL	−0.0870%	1h	$10K	$745	10x	as long as short
01 Exchange MORPHOUSD	−0.0864%	1h	$878	$11K	5x	as long as short
Gate MORPHO_USDT	−0.0700%	4h	$765K	$549K	50x	as long as short
Polymarket Perps MORPHO-USD	−0.0445%	1h	$27K	$2.7M	5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0336%	1h	$77K	$48K	25x	as long as short
BloFin MORPHO-USDT	−0.0238%	4h	$668K	$205K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0199%	4h	$10K	$34K	10x	as long as short
Bybit MORPHOUSDT	−0.0160%	4h	$8.8M	$10.4M	25x	as long as short
Phoenix MORPHO	−0.0059%	1h	$35K	$517K	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
MEXC MORPHO_USDT	+0.0002%	4h	$4.8M	$1.2M	100x	as long as short
Binance MORPHOUSDT	+0.0006%	4h	$16.5M	$27.9M	75x	as long as short
Extended MORPHO-USD	+0.0008%	1h	$101K	$304K	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	$38	$34K	5.5x	as long as short
Variational Omni MORPHO	+0.0074%	4h	$653K	$1.4M	—	as long as short
Lighter MORPHO	+0.0096%	1h	$315K	$367K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0099%	8h	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	$6.4M	$8.0M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	$58K	$32K	20x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	$3.2M	$4.7M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	$596K	$354K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	$2.9M	$2.1M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	—	$1.5M	—	as long as short
SoDEX MORPHO-USDshort	+0.0100%	1h	$22K	$2K	5x
GMX MORPHO/USD [ETH-USDC]	L +0.0158% / S −0.0698%	1h	$2K	—	100x	as long as short