MORPHO

Alert

Funding spread now, next payment 19:00 UTC−0.0419%/8h

paid, last 24h−0.047%paid, last 7 days−0.202%to open and close $10k−$129

Long on KuCoin Short on Polymarket Perps

The current rate is far above what this pair has been paying: over the last 7 days it paid -0.202% in total (about -10.5% 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	KuCoin MORPHOUSDTM	2.6773	0.0100	pay 0.0050% / 4h	1h 25m	$598K	$343K	50x
Short	Polymarket Perps MORPHO-USD	2.6762	−0.0319	pay 0.0040% / 1h	25m 36s	$24K	$2.5M	5x

Funding history

latest

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee KuCoinbpFee Polymarket PerpsbpOrdersRate

Funding earned: −$88.03
Slippage, 4 orders: −$109.15
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$217.19
Break-even: never at this rate

Slippage from KuCoin: live order book, 15 min ago; Polymarket Perps: live order book, 5 min ago.

Price risk

price view

Price gap now: −0.041%
Avg gap 7d: −0.015%

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 KuCoin live order book, 15 min ago	17.36 bp	62.6 bp −$63	207.7 bp −$2,077	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 5 min ago	2.62 bp	6.6 bp −$7	6.8 bp −$68	doesn't fit	doesn't fit

MORPHO on 26 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Kraken Futures PF_MORPHOUSD	−0.2233%	1h	$84K	$165K	20x	as long as short
01 Exchange MORPHOUSD	−0.0656%	1h	$878	$12K	5x	as long as short
Gate MORPHO_USDT	−0.0620%	4h	$772K	$538K	50x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0608%	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-USDshort	−0.0319%	1h	$24K	$2.5M	5x
Bybit MORPHOUSDT	−0.0229%	4h	$8.8M	$10.2M	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0214%	4h	$10K	$34K	10x	as long as short
BloFin MORPHO-USDT	−0.0128%	4h	$667K	$205K	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	+0.0023%	4h	$654K	$1.4M	—	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	$38	$34K	5.5x	as long as short
Binance MORPHOUSDT	+0.0062%	4h	$16.5M	$27.2M	75x	as long as short
MEXC MORPHO_USDT	+0.0062%	4h	$4.8M	$1.2M	100x	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 MORPHOUSDTMlong	+0.0100%	4h	$598K	$343K	50x
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 +0.0157% / S −0.0698%	1h	$2K	—	100x	as long as short