MORPHO

Alert

Funding spread now, next payment 17:00 UTC−0.0159%/8h

paid, last 24h−0.035%paid, last 3 days−0.080%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex MORPHO-USD-PERP	2.7034	0.0100	pay 0.0100% / 8h	6h 32m	$5K	$3	5x
Short	Phoenix MORPHO	2.7064	−0.0059	pay 0.0007% / 1h	32m 53s	$35K	$517K	5x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee ParadexbpFee PhoenixbpOrdersRate

Funding earned: −$33.3
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$44.3
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Phoenix: live order book, 6 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.111%
Avg gap 7d: —

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 Paradex no order-book sample	—	—	—	—	—
Sell Phoenix live order book, 6 min ago	1.11 bp	13.0 bp −$13	44.5 bp −$445	doesn't fit	doesn't fit

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

MORPHO on 26 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
01 Exchange MORPHOUSD	−0.0936%	1h	$888	$11K	5x	as long as short
Kraken Futures PF_MORPHOUSD	−0.0925%	1h	$93K	$173K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0895%	1h	$11K	$443	10x	as long as short
Gate MORPHO_USDT	−0.0604%	4h	$764K	$541K	50x	as long as short
Polymarket Perps MORPHO-USD	−0.0422%	1h	$27K	$2.7M	5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0336%	1h	$79K	$49K	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0184%	4h	$10K	$34K	10x	as long as short
Bybit MORPHOUSDT	−0.0145%	4h	$8.9M	$10.6M	25x	as long as short
Phoenix MORPHOshort	−0.0059%	1h	$35K	$517K	5x
Reya MORPHORUSDPERP	−0.0004%	1h	$16	—	10x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
BloFin MORPHO-USDT	−0.0003%	4h	$675K	$222K	20x	as long as short
MEXC MORPHO_USDT	−0.0002%	4h	$4.8M	$1.2M	100x	as long as short
Binance MORPHOUSDT	−0.0001%	4h	$16.7M	$28.7M	75x	as long as short
Extended MORPHO-USD	0.0000%	1h	$102K	$304K	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	$38	$34K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	$318K	$364K	5x	as long as short
Paradex MORPHO-USD-PERPlong	+0.0100%	8h	$5K	$3	5x
Hyperliquid MORPHO	+0.0100%	1h	$6.6M	$7.8M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	$59K	$32K	20x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	$3.2M	$5.0M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	$603K	$374K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	$3.0M	$2.2M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	—	$1.5M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	$661K	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	$23K	$2K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0158% / S −0.0698%	1h	$2K	—	100x	as long as short