Funding you earn now, next payment 22:00 UTC−0.0222%/8h= −24.3% APRnext payment −$0.28 per $10,000 · paid last 24h +0.098%
Price spread now: Coinbase International against Phoenix−0.083%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.352%+$35 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Coinbase International is 0.083% cheaper against Phoenix than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.352%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MORPHO | 2.6435 | −0.0090 | get 0.0011% / 1h | 30m 32s | $34K | $484K | 5x |
| Short | Coinbase International MORPHO-PERP-INTX | 2.6413 | −0.0312 | pay 0.0039% / 1h | 30m 32s | $76K | $43K | 25x |
Phoenix MORPHO
Coinbase International MORPHO-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Phoenix. 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
- −$46.52
- Price spread: −0.083% → 0.000%
- −$8.32
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$71.84
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 52 min ago; Coinbase International: no order-book sample. Net counts fees only.
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 Phoenix live order book, 52 min ago | 1.13 bp | 12.9 bp −$13 | 52.2 bp −$522 | doesn't fit | doesn't fit |
| Sell Coinbase International no order-book sample | — | — | — | — | — |
Coinbase International: 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 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 | −0.1862% | 1h | 2.6362 | −0.277% | $82K | $149K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1416% | 1h | 2.6371 | −0.242% | $11K | $812 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.1208% | 1h | 2.6302 | −0.503% | $864 | $13K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0710% | 1h | 2.6356 | −0.299% | $24K | $1.8M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0614% | 4h | 2.6383 | −0.197% | $29K | $146K | 10x | as long as short |
| Bybit MORPHOUSDT | −0.0594% | 4h | 2.6370 | −0.246% | $8.5M | $9.4M | 25x | as long as short |
| Injective MORPHO/USDC PERP | −0.0337% | 1h | 2.6430 | −0.019% | $37 | $242K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTXshort | −0.0312% | 1h | 2.6413 | −0.083% | $76K | $43K | 25x | |
| BloFin MORPHO-USDT | −0.0192% | 4h | 2.6372 | −0.238% | $640K | $244K | 20x | as long as short |
| Gate MORPHO_USDT | −0.0174% | 4h | 2.6396 | −0.148% | $767K | $533K | 50x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Bybit MORPHOUSDT
Injective MORPHO/USDC PERP
BloFin MORPHO-USDT
Gate MORPHO_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_MORPHO_USDC | −0.0152% | 4h | 2.6372 | −0.238% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHOlong | −0.0090% | 1h | 2.6435 | long leg | $34K | $484K | 5x | |
| Variational Omni MORPHO | −0.0086% | 4h | 2.6397 | −0.144% | $628K | $1.2M | — | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6358 | −0.292% | $16 | — | 10x | as long as short |
| Binance MORPHOUSDT | +0.0043% | 4h | 2.6355 | −0.302% | $16.1M | $25.8M | 75x | as long as short |
| Extended MORPHO-USD | +0.0048% | 1h | 2.6351 | −0.318% | $103K | $301K | 10x | as long as short |
| MEXC MORPHO_USDT | +0.0048% | 4h | 2.6355 | −0.303% | $5.4M | $1.1M | 100x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6395 | −0.151% | $314K | $334K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6350 | −0.320% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6413 | −0.083% | $6.2M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6404 | −0.117% | $57K | $31K | 20x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6375 | −0.227% | $3.2M | $4.4M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6384 | −0.193% | $590K | $270K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6400 | −0.132% | $2.9M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6374 | −0.231% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6367 | −0.257% | $22K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6422 | −0.049% | $1K | — | 100x | as long as short |
Orderly PERP_MORPHO_USDC
Variational Omni MORPHO
Reya MORPHORUSDPERP
Binance MORPHOUSDT
Extended MORPHO-USD
MEXC MORPHO_USDT
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]