Funding you earn now, next payment 04:00 UTC−0.0300%/8h= −32.9% APRnext payment −$1.50 per $10,000 · paid last 24h −0.090%
Price spread now: BloFin against KuCoin−0.188%7-day average −0.048% · you buy dearer than you sell
Net, funding: paid 7d − costs−$157as in the Funding arb table
Net, price: spread back to 7d avg − costs−$208as in the Price arb table
costs, in and out, $10k−$1941.938% of the position
Funding, last 7 days+0.373%+$37 on $10k
+Price spread, last 3 days (all we have)+0.172%+$17 · spread now −0.188%, 7d avg −0.048%
=Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and BloFin is 0.140% cheaper against KuCoin than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.048%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.373%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin MORPHOUSDTM | 2.6645 | 0.0100 | pay 0.0050% / 4h | 3h 03m | $600K | $263K | 50x |
| Short | BloFin MORPHO-USDT | 2.6595 | −0.0200 | pay 0.0100% / 4h | 3h 03m | $643K | $232K | 20x |
KuCoin MORPHOUSDTM
BloFin MORPHO-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against KuCoin. 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
- −$63
- Price spread: −0.188% → −0.048%
- −$14.01
- Slippage, 4 orders
- −$169.82
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$270.83
- Costs to cover
- 1.938%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 50 min ago; BloFin: 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 KuCoin live order book, 50 min ago | 8.87 bp | 62.5 bp −$62 | 172.0 bp −$1,720 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 3 min ago | 3.94 bp | 12.1 bp −$12 | 23.5 bp −$235 | 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 | −0.1830% | 1h | 2.6562 | −0.311% | $80K | $125K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0988% | 1h | 2.6615 | −0.113% | $11K | $785 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0408% | 1h | 2.6584 | −0.229% | $874 | $13K | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0280% | 1h | 2.6743 | +0.368% | $77K | $43K | 25x | as long as short |
| BloFin MORPHO-USDTshort | −0.0200% | 4h | 2.6595 | −0.188% | $643K | $232K | 20x | |
| Orderly PERP_MORPHO_USDC | −0.0148% | 4h | 2.6596 | −0.184% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6661 | +0.060% | $44K | $474K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6602 | −0.160% | $16 | — | 10x | as long as short |
| Polymarket Perps MORPHO-USD | +0.0001% | 1h | 2.6609 | −0.135% | $25K | $1.7M | 5x | as long as short |
| Variational Omni MORPHO | +0.0017% | 4h | 2.6640 | −0.018% | $635K | $926K | — | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Coinbase International MORPHO-PERP-INTX
Orderly PERP_MORPHO_USDC
Phoenix MORPHO
Reya MORPHORUSDPERP
Polymarket Perps MORPHO-USD
Variational Omni MORPHOShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | −0.807% | $37 | $242K | 5.5x | as long as short |
| GRVT MORPHO_USDT_Perp | +0.0050% | 4h | 2.6620 | −0.092% | $41K | $133K | 10x | as long as short |
| Gate MORPHO_USDT | +0.0084% | 4h | 2.6656 | +0.041% | $769K | $525K | 50x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6716 | +0.267% | $320K | $325K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6583 | −0.232% | $5K | $3 | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6653 | +0.030% | $58K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6560 | −0.319% | $16.1M | $25.4M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6592 | −0.199% | $8.5M | $9.0M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6580 | −0.244% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6595 | −0.188% | $5.5M | $906K | 100x | as long as short |
| KuCoin MORPHOUSDTMlong | +0.0100% | 4h | 2.6645 | long leg | $600K | $263K | 50x | |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6587 | −0.218% | $2.9M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6598 | −0.176% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6593 | −0.195% | $22K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6590 | −0.206% | $102K | $362K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0187% / S −0.4126% | 1h | 2.6608 | −0.140% | $1K | — | 100x | as long as short |
| Hyperliquid MORPHO | +0.0343% | 1h | 2.6661 | +0.060% | $6.3M | $7.0M | 5x | as long as short |
Injective MORPHO/USDC PERP
GRVT MORPHO_USDT_Perp
Gate MORPHO_USDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]
Hyperliquid MORPHO