Funding you earn now, next payment 12:00 UTC−0.0087%/8h= −9.5% APRnext payment −$0.43 per $10,000 · paid last 24h −0.085%
Price spread now: BloFin against MEXC+0.042%94s7-day average +0.002% · you sell dearer than you buy
Net, funding: paid 7d − costs−$9as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$430.429% of the position
Funding, last 7 days+0.336%+$34 on $10k
+Price spread, last 4 days (all we have)−0.109%−$11 · spread now +0.042%, 7d avg +0.002%
=The price spread pays, funding is against you. BloFin is 0.040% dearer against MEXC than usual: you sell high and buy low (spread +0.042% now, against its 7-day average of +0.002%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 37 hours. Mind the row above: over the last 7 days funding on this pair paid +0.336%, so the current rate has only just turned against you. The two prices were read 94 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | MEXC MORPHO_USDT | 2.6042 | 0.0100 | pay 0.0050% / 4h | 1h 53m | $6.5M | $956K | 100x |
| Short | BloFin MORPHO-USDT | 2.6053 | 0.0013 | get 0.0007% / 4h | 1h 53m | $638K | $236K | 20x |
MEXC MORPHO_USDT
BloFin MORPHO-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against MEXC. 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
- −$18.18
- Price spread: +0.042% → +0.002%
- $4.03
- Slippage, 4 orders
- −$26.88
- Fee MEXC: 2 bp × 2 orders
- −$4
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$57.02
- Costs to cover
- 0.429%
- Break-even
- never at this rate
Slippage from MEXC: live order book, 2 min ago; BloFin: live order book, 55 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 MEXC live order book, 2 min ago | 0.96 bp | 6.8 bp −$7 | 47.1 bp −$471 | 165.9 bp −$16.6K | doesn't fit |
| Sell BloFin live order book, 55 min ago | 0.58 bp | 15.6 bp −$16 | 22.8 bp −$228 | doesn't fit | doesn't fit |
MORPHO on 27 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International MORPHO-PERP-INTX | −0.1248% | 1h | 2.5936 | −0.407% | $53K | $55K | 25x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1092% | 1h | 2.6038 | −0.015% | $11K | $3K | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0680% | 1h | 2.5992 | −0.192% | $854 | $9K | 5x | as long as short |
| Kraken Futures PF_MORPHOUSD | −0.0487% | 1h | 2.6040 | −0.006% | $81K | $130K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0310% | 4h | 2.6038 | −0.015% | $10K | $33K | 10x | as long as short |
| Bybit MORPHOUSDT | −0.0184% | 4h | 2.6043 | +0.004% | $7.8M | $7.6M | 25x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0138% | 4h | 2.6053 | +0.041% | $39K | $114K | 10x | as long as short |
| Phoenix MORPHO | −0.0122% | 1h | 2.6066 | +0.092% | $33K | $287K | 5x | as long as short |
| Variational Omni MORPHO | −0.0101% | 4h | 2.6043 | +0.005% | $620K | $323K | — | as long as short |
| Aster MORPHOUSDT | −0.0049% | 4h | 2.6082 | +0.154% | $57K | $51K | 20x | as long as short |
Coinbase International MORPHO-PERP-INTX
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Kraken Futures PF_MORPHOUSD
Orderly PERP_MORPHO_USDC
Bybit MORPHOUSDT
GRVT MORPHO_USDT_Perp
Phoenix MORPHO
Variational Omni MORPHO
Aster MORPHOUSDTShow all 27 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Polymarket Perps MORPHO-USD | −0.0034% | 1h | 2.6049 | +0.027% | $25K | $1.2M | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.6037 | −0.020% | $16 | — | 10x | as long as short |
| BloFin MORPHO-USDTshort | +0.0013% | 4h | 2.6053 | +0.042% | $638K | $236K | 20x | |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +1.490% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6114 | +0.275% | $313K | $245K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6042 | +0.001% | $5K | $203 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6097 | +0.211% | $6.0M | $6.5M | 5x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6045 | +0.011% | $15.6M | $22.3M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6063 | +0.081% | $3.1M | $4.1M | 20x | as long as short |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.6030 | −0.046% | $762K | $455K | 50x | as long as short |
| MEXC MORPHO_USDTlong | +0.0100% | 4h | 2.6042 | long leg | $6.5M | $956K | 100x | |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6065 | +0.088% | $582K | $254K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6054 | +0.046% | $2.8M | $1.7M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6051 | +0.035% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6040 | −0.008% | $21K | $5K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6027 | −0.058% | $107K | $378K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0157% / S −12.8912% | 1h | 2.6071 | +0.112% | $1K | — | 100x | as long as short |
Polymarket Perps MORPHO-USD
Reya MORPHORUSDPERP
Injective MORPHO/USDC PERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Binance MORPHOUSDT
OKX MORPHO-USDT-SWAP
Gate MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]