MORPHO

Alert

Funding spread now, next payment 19:00 UTC+0.1578%/8h

next payment, per $10,000+$1.97paid, last 24h−0.314%paid, last 3 days−0.342%to open and closeno order book

Long on Kraken Futures Short on 01 Exchange

The current rate is far above what this pair has been paying: over the last 3 days it paid -0.342% in total (about -39.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.97 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	2.6742	−0.2234	get 0.0279% / 1h	24m 04s	$84K	$165K	20x
Short	01 Exchange MORPHOUSD	2.6745	−0.0656	pay 0.0082% / 1h	24m 04s	$879	$12K	5x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee 01 ExchangebpOrdersRate

Funding earned: $331.31
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: $314.31
Break-even: 0.4 days

Slippage unknown: Kraken Futures: live order book, 10 min ago; 01 Exchange: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: +0.013%
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, 10 min ago	21.67 bp	32.0 bp −$32	3882.7 bp −$38.8K	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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	−0.2234%	1h	$84K	$165K	20x
01 Exchange MORPHOUSDshort	−0.0656%	1h	$879	$12K	5x
Gate MORPHO_USDT	−0.0616%	4h	$772K	$538K	50x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0570%	1h	$10K	$745	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0352%	1h	$78K	$47K	25x	as long as short
Polymarket Perps MORPHO-USD	−0.0311%	1h	$24K	$2.4M	5x	as long as short
Bybit MORPHOUSDT	−0.0219%	4h	$8.8M	$10.2M	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0213%	4h	$10K	$34K	10x	as long as short
BloFin MORPHO-USDT	−0.0124%	4h	$667K	$207K	20x	as long as short
Phoenix MORPHO	−0.0030%	1h	$34K	$478K	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
Variational Omni MORPHO	+0.0001%	4h	$654K	$1.4M	—	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	$38	$34K	5.5x	as long as short
MEXC MORPHO_USDT	+0.0060%	4h	$4.8M	$1.2M	100x	as long as short
Binance MORPHOUSDT	+0.0063%	4h	$16.5M	$27.2M	75x	as long as short
Extended MORPHO-USD	+0.0064%	1h	$101K	$304K	10x	as long as short
Lighter MORPHO	+0.0096%	1h	$319K	$364K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	$6.4M	$7.1M	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	$4.6M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	$598K	$342K	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-USD	+0.0100%	1h	$22K	$2K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0158% / S −0.0698%	1h	$2K	—	100x	as long as short