Funding you earn now, next payment 00:00 UTC−0.0244%/8h= −26.7% APRnext payment −$1.22 per $10,000 · paid last 24h −0.086%
Price spread now: Gate against KuCoin−0.181%7-day average −0.062% · you buy dearer than you sell
Net, funding: paid 7d − costs−$265as in the Funding arb table
Net, price: spread back to 7d avg − costs−$256as in the Price arb table
costs, in and out, $10k−$2442.440% of the position
Funding, last 7 days−0.210%−$21 on $10k
+Price spread, last 4 days (all we have)+0.228%+$23 · spread now −0.181%, 7d avg −0.062%
=Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Gate is 0.119% cheaper against KuCoin than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.062%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin MORPHOUSDTM | 2.6573 | 0.0100 | pay 0.0050% / 4h | 2h 11m | $623K | $269K | 50x |
| Short | Gate MORPHO_USDT | 2.6525 | −0.0144 | pay 0.0072% / 4h | 2h 11m | $773K | $548K | 50x |
KuCoin MORPHOUSDTM
Gate MORPHO_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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
- −$51.24
- Price spread: −0.181% → −0.062%
- −$11.89
- Slippage, 4 orders
- −$217
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$307.13
- Costs to cover
- 2.440%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 1 min ago; Gate: live order book, 10 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, 1 min ago | 9.24 bp | 61.4 bp −$61 | 176.1 bp −$1,761 | doesn't fit | doesn't fit |
| Sell Gate live order book, 10 min ago | 7.33 bp | 48.4 bp −$48 | doesn't fit | 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 | −0.2057% | 1h | 2.6501 | −0.271% | $83K | $148K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1407% | 1h | 2.6511 | −0.233% | $11K | $911 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0872% | 1h | 2.6411 | −0.610% | $868 | $12K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0429% | 1h | 2.6514 | −0.222% | $26K | $1.8M | 5x | as long as short |
| Injective MORPHO/USDC PERP | −0.0385% | 1h | 2.6610 | +0.139% | $37 | $198K | 5.5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0344% | 4h | 2.6601 | +0.106% | $30K | $154K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0296% | 1h | 2.6617 | +0.166% | $77K | $46K | 25x | as long as short |
| Bybit MORPHOUSDT | −0.0291% | 4h | 2.6496 | −0.290% | $8.6M | $9.9M | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6528 | −0.169% | $646K | $222K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0170% | 4h | 2.6519 | −0.203% | $10K | $34K | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
Injective MORPHO/USDC PERP
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
Bybit MORPHOUSDT
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDCShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDTshort | −0.0144% | 4h | 2.6525 | −0.181% | $773K | $548K | 50x | |
| Phoenix MORPHO | −0.0030% | 1h | 2.6639 | +0.248% | $34K | $493K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6520 | −0.200% | $16 | — | 10x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6556 | −0.064% | $317K | $336K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6459 | −0.429% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6558 | −0.056% | $6.2M | $7.2M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6558 | −0.056% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6497 | −0.284% | $16.2M | $26.7M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6524 | −0.184% | $3.2M | $4.5M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6502 | −0.267% | $5.5M | $1.2M | 100x | as long as short |
| KuCoin MORPHOUSDTMlong | +0.0100% | 4h | 2.6573 | long leg | $623K | $269K | 50x | |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6525 | −0.181% | $2.9M | $1.9M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6505 | −0.256% | — | $1.5M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6594 | +0.078% | $647K | $1.2M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6518 | −0.207% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6493 | −0.301% | $103K | $301K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6551 | −0.084% | $1K | — | 100x | as long as short |
Phoenix MORPHO
Reya MORPHORUSDPERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]