Funding you earn now, next payment 11:00 UTC−0.1048%/8h= −114.8% APRnext payment −$1.31 per $10,000 · paid last 24h −0.287%
Price spread now: Deribit against Reya+0.059%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=The price spread pays, funding is against you. Deribit is 0.059% dearer against Reya than usual: you sell high and buy low (spread +0.059% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$31 a day in funding at the current rate, which eats that in about 4 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Reya MORPHORUSDPERP | 2.6042 | −0.0005 | get 0.0001% / 1h | 57m 12s | $16 | — | 10x |
| Short | Deribit MORPHO_USDC-PERPETUAL | 2.6057 | −0.1053 | pay 0.0132% / 1h | 57m 12s | $11K | $3K | 10x |
Reya MORPHORUSDPERP
Deribit MORPHO_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Reya. 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
- −$220.17
- Price spread: +0.059% → 0.000%
- $5.85
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$227.32
- Costs to cover
- 0.130%
- Break-even
- never at this rate
Slippage unknown: Reya: no order-book sample; Deribit: 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 Reya no order-book sample | — | — | — | — | — |
| Sell Deribit no order-book sample | — | — | — | — | — |
Reya and Deribit: 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 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International MORPHO-PERP-INTX | −0.1248% | 1h | 2.5962 | −0.306% | $53K | $55K | 25x | as long as short |
| Deribit MORPHO_USDC-PERPETUALshort | −0.1053% | 1h | 2.6057 | +0.059% | $11K | $3K | 10x | |
| 01 Exchange MORPHOUSD | −0.0568% | 1h | 2.6028 | −0.053% | $855 | $9K | 5x | as long as short |
| Kraken Futures PF_MORPHOUSD | −0.0487% | 1h | 2.6058 | +0.061% | $81K | $130K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0314% | 4h | 2.6057 | +0.059% | $10K | $33K | 10x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6049 | +0.028% | $637K | $236K | 20x | as long as short |
| Bybit MORPHOUSDT | −0.0189% | 4h | 2.6063 | +0.082% | $7.8M | $7.6M | 25x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0140% | 4h | 2.6047 | +0.022% | $39K | $114K | 10x | as long as short |
| Phoenix MORPHO | −0.0122% | 1h | 2.6066 | +0.093% | $33K | $287K | 5x | as long as short |
| Variational Omni MORPHO | −0.0121% | 4h | 2.6074 | +0.123% | $621K | $323K | — | as long as short |
Coinbase International MORPHO-PERP-INTX
01 Exchange MORPHOUSD
Kraken Futures PF_MORPHOUSD
Orderly PERP_MORPHO_USDC
BloFin MORPHO-USDT
Bybit MORPHOUSDT
GRVT MORPHO_USDT_Perp
Phoenix MORPHO
Variational Omni MORPHOShow all 27 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster MORPHOUSDT | −0.0068% | 4h | 2.6095 | +0.203% | $57K | $51K | 20x | as long as short |
| Reya MORPHORUSDPERPlong | −0.0005% | 1h | 2.6042 | long leg | $16 | — | 10x | |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +1.491% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6127 | +0.327% | $313K | $245K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6048 | +0.023% | $5K | $203 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6103 | +0.235% | $6.0M | $6.6M | 5x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6049 | +0.028% | $15.6M | $22.3M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6067 | +0.097% | $3.1M | $4.1M | 20x | as long as short |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.6070 | +0.108% | $763K | $455K | 50x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6049 | +0.028% | $6.5M | $956K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6077 | +0.135% | $582K | $254K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6077 | +0.135% | $2.8M | $1.7M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6060 | +0.070% | — | $1.5M | — | as long as short |
| Polymarket Perps MORPHO-USD | +0.0100% | 1h | 2.6069 | +0.105% | $25K | $1.2M | 5x | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6049 | +0.028% | $21K | $5K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6042 | −0.001% | $107K | $378K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0157% / S −12.8912% | 1h | 2.6082 | +0.155% | $1K | — | 100x | as long as short |
Aster MORPHOUSDT
Injective MORPHO/USDC PERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Binance MORPHOUSDT
OKX MORPHO-USDT-SWAP
Gate MORPHO_USDT
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Polymarket Perps MORPHO-USD
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]