Funding you earn now, next payment 00:00 UTC−0.0142%/8h= −15.5% APRnext payment −$0.71 per $10,000 · paid last 24h −0.086%
Price spread now: Gate against MEXC+0.169%7-day average −0.001% · you sell dearer than you buy
Net, funding: paid 7d − costs−$118as in the Funding arb table
Net, price: spread back to 7d avg − costs−$80as in the Price arb table
costs, in and out, $10k−$970.974% of the position
Funding, last 7 days−0.202%−$20 on $10k
+Price spread, last 4 days (all we have)−0.136%−$14 · spread now +0.169%, 7d avg −0.001%
=The price spread pays, funding is against you. Gate is 0.170% dearer against MEXC than usual: you sell high and buy low (spread +0.169% now, against its 7-day average of −0.001%): +$17 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 4.0 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | MEXC MORPHO_USDT | 2.6592 | 0.0018 | pay 0.0009% / 4h | 48m 47s | $5.5M | $940K | 100x |
| Short | Gate MORPHO_USDT | 2.6637 | −0.0124 | pay 0.0062% / 4h | 48m 47s | $774K | $531K | 50x |
MEXC MORPHO_USDT
Gate MORPHO_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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
- −$29.82
- Price spread: +0.169% → −0.001%
- $17
- Slippage, 4 orders
- −$78.37
- Fee MEXC: 2 bp × 2 orders
- −$4
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$110.18
- Costs to cover
- 0.974%
- Break-even
- never at this rate
Slippage from MEXC: live order book, 4 min ago; Gate: live order book, 28 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, 4 min ago | 0.56 bp | 4.9 bp −$5 | 35.9 bp −$359 | 170.4 bp −$17.0K | doesn't fit |
| Sell Gate live order book, 28 min ago | 5.48 bp | 39.4 bp −$39 | 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 | −0.1748% | 1h | 2.6598 | +0.021% | $83K | $140K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0913% | 1h | 2.6615 | +0.086% | $11K | $812 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0608% | 1h | 2.6582 | −0.038% | $873 | $12K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0536% | 4h | 2.6564 | −0.104% | $29K | $134K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0498% | 1h | 2.6612 | +0.075% | $26K | $1.7M | 5x | as long as short |
| Injective MORPHO/USDC PERP | −0.0405% | 1h | 2.6430 | −0.609% | $37 | $242K | 5.5x | as long as short |
| Bybit MORPHOUSDT | −0.0365% | 4h | 2.6598 | +0.023% | $8.5M | $9.2M | 25x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0360% | 1h | 2.6654 | +0.233% | $77K | $43K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0222% | 4h | 2.6605 | +0.049% | $639K | $251K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0147% | 4h | 2.6608 | +0.060% | $10K | $34K | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Polymarket Perps MORPHO-USD
Injective MORPHO/USDC PERP
Bybit MORPHOUSDT
Coinbase International MORPHO-PERP-INTX
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 | −0.0124% | 4h | 2.6637 | +0.169% | $774K | $531K | 50x | |
| Variational Omni MORPHO | −0.0109% | 4h | 2.6572 | −0.076% | $630K | $1.0M | — | as long as short |
| Phoenix MORPHO | −0.0060% | 1h | 2.6612 | +0.075% | $44K | $477K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6612 | +0.075% | $16 | — | 10x | as long as short |
| Extended MORPHO-USD | +0.0016% | 1h | 2.6629 | +0.138% | $103K | $301K | 10x | as long as short |
| MEXC MORPHO_USDTlong | +0.0018% | 4h | 2.6592 | long leg | $5.5M | $940K | 100x | |
| Binance MORPHOUSDT | +0.0018% | 4h | 2.6595 | +0.013% | $16.1M | $25.8M | 75x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6631 | +0.145% | $317K | $331K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6582 | −0.039% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6665 | +0.275% | $6.3M | $7.0M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6589 | −0.010% | $58K | $31K | 20x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6568 | −0.090% | $3.2M | $4.5M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6603 | +0.041% | $596K | $271K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6608 | +0.060% | $2.9M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6610 | +0.068% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6603 | +0.041% | $22K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −0.3373% | 1h | 2.6650 | +0.219% | $1K | — | 100x | as long as short |
Variational Omni MORPHO
Phoenix MORPHO
Reya MORPHORUSDPERP
Extended MORPHO-USD
Binance MORPHOUSDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]