Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0259%/8h= +28.4% APRpaid last 24h +0.086%

Price spread now: Bitget against Polymarket Perps+0.012%7-day average −0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$640.639% of the position

Long on Polymarket Perps Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.256%+$26 on $10k

Price spread, last 7 days−0.012%−$1 · spread now +0.012%, 7d avg −0.042%

Together, before fees+0.244%+$24 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Bitget is 0.053% dearer against Polymarket Perps than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps MORPHO-USD	2.5950	−0.0159	get 0.0020% / 1h	8m 01s	$24K	$1.5M	5x
Short	Bitget MORPHOUSDT	2.5953	0.0100	get 0.0050% / 4h	3h 08m	$2.8M	$1.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Polymarket Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Polymarket PerpsbpFee BitgetbpOrdersPrice spread, now +0.012%Rate

Funding earned: $54.43
Price spread: +0.012% → −0.042%: $5.33
Slippage, 4 orders: −$43.93
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$4.16
Costs to cover: 0.639%
Break-even: 7.5 days

Slippage from Polymarket Perps: live order book, 5 min ago; Bitget: live order book, 4 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 Polymarket Perps live order book, 5 min ago	2.89 bp	7.1 bp −$7	7.5 bp −$75	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	2.50 bp	26.7 bp −$27	74.5 bp −$745	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	−0.2175%	1h	2.5960	+0.040%	$81K	$124K	20x	as long as short
01 Exchange MORPHOUSD	−0.0976%	1h	2.5883	−0.258%	$851	$9K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0904%	1h	2.5958	+0.031%	$11K	$2K	10x	as long as short
GRVT MORPHO_USDT_Perp	−0.0514%	4h	2.5967	+0.065%	$34K	$140K	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0216%	1h	2.5993	+0.166%	$74K	$41K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.5880	−0.270%	$632K	$244K	20x	as long as short
Polymarket Perps MORPHO-USDlong	−0.0159%	1h	2.5950	long leg	$24K	$1.5M	5x
Orderly PERP_MORPHO_USDC	−0.0133%	4h	2.5955	+0.019%	$10K	$34K	10x	as long as short
Phoenix MORPHO	−0.0061%	1h	2.6000	+0.193%	$43K	$337K	5x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.5940	−0.039%	$16	—	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+1.850%	$37	$242K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	2.5967	+0.066%	$313K	$294K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.5928	−0.085%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6009	+0.227%	$6.0M	$6.8M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.5971	+0.082%	$57K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.5955	+0.019%	$15.7M	$24.0M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.5970	+0.077%	$8.0M	$8.5M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.5977	+0.104%	$3.2M	$4.0M	20x	as long as short
Gate MORPHO_USDT	+0.0100%	4h	2.5945	−0.019%	$771K	$483K	50x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.5966	+0.062%	$6.0M	$840K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.5970	+0.077%	$596K	$246K	50x	as long as short
Bitget MORPHOUSDTshort	+0.0100%	4h	2.5953	+0.012%	$2.8M	$1.6M	75x
BingX MORPHO-USDT	+0.0100%	4h	2.5965	+0.058%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.5970	+0.078%	$619K	$675K	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.5952	+0.008%	$21K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.5965	+0.057%	$99K	$346K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0186% / S −15.6829%	1h	2.5987	+0.143%	$1K	—	100x	as long as short