Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0351%/8h= +38.4% APRpaid last 24h +0.089%

Price spread now: Paradex against Polymarket Perps−0.084%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Polymarket Perps Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.084% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.084% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 19 hours of funding at the current rate (+$11 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps MORPHO-USD	2.5982	−0.0251	get 0.0031% / 1h	55m 56s	$27K	$1.5M	5x
Short	Paradex MORPHO-USD-PERP	2.5960	0.0100	get 0.0100% / 8h	1h 55m	$5K	$3	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.084%Rate

Funding earned: $73.63
Price spread: −0.084% → 0.000%: −$8.38
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Paradex: 2 bp × 2 orders: −$4
Net: $53.26
Costs to cover: 0.120%
Break-even: 1.9 days

Slippage unknown: Polymarket Perps: live order book, 2 min ago; Paradex: 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 Polymarket Perps live order book, 2 min ago	2.88 bp	7.7 bp −$8	8.1 bp −$81	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

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 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
Deribit MORPHO_USDC-PERPETUAL	−0.1634%	1h	2.5964	−0.069%	$11K	$2K	10x	as long as short
Kraken Futures PF_MORPHOUSD	−0.1376%	1h	2.5938	−0.170%	$81K	$137K	20x	as long as short
01 Exchange MORPHOUSD	−0.0992%	1h	2.5920	−0.239%	$852	$9K	5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0432%	1h	2.5977	−0.019%	$73K	$40K	25x	as long as short
GRVT MORPHO_USDT_Perp	−0.0270%	4h	2.6056	+0.286%	$30K	$134K	10x	as long as short
Polymarket Perps MORPHO-USDlong	−0.0251%	1h	2.5982	long leg	$27K	$1.5M	5x
BloFin MORPHO-USDT	−0.0200%	4h	2.5976	−0.023%	$639K	$240K	20x	as long as short
Phoenix MORPHO	−0.0154%	1h	2.6094	+0.431%	$34K	$315K	5x	as long as short
Orderly PERP_MORPHO_USDC	−0.0123%	4h	2.5962	−0.077%	$10K	$34K	10x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.5958	−0.090%	$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	+1.724%	$37	$242K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6002	+0.079%	$313K	$294K	5x	as long as short
Paradex MORPHO-USD-PERPshort	+0.0100%	8h	2.5960	−0.084%	$5K	$3	5x
Hyperliquid MORPHO	+0.0100%	1h	2.5999	+0.065%	$5.9M	$7.0M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6002	+0.078%	$58K	$33K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.5959	−0.088%	$15.7M	$24.5M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.5971	−0.042%	$8.0M	$8.6M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.5973	−0.035%	$3.2M	$4.1M	20x	as long as short
Gate MORPHO_USDT	+0.0100%	4h	2.5981	−0.004%	$766K	$508K	50x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.5951	−0.119%	$6.2M	$895K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.5985	+0.012%	$591K	$256K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.5955	−0.104%	$2.8M	$1.6M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.5955	−0.104%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6055	+0.282%	$620K	$677K	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.5955	−0.104%	$21K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.5947	−0.135%	$100K	$342K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0184% / S −15.5103%	1h	2.5990	+0.031%	$1K	—	100x	as long as short