Funding you earn now, next payment 22:00 UTC+0.0108%/8h= +11.9% APRnext payment +$0.14 per $10,000 · paid last 24h +0.031%
Price spread now: Extended against Reya−0.032%48s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropReya: Active · Extended: Active · farm boardneeds both histories
Funding pays, the price is against you. Extended is 0.032% cheaper against Reya than usual: you would sell low and buy high (spread −0.032% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 24 hours of funding at the current rate (+$3 a day). The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Reya MORPHORUSDPERP | 2.6515 | −0.0004 | get 0.0001% / 1h | 6m 36s | $16 | — | 10x |
| Short | Extended MORPHO-USD | 2.6507 | 0.0104 | get 0.0013% / 1h | 6m 36s | $103K | $301K | 10x |
Reya MORPHORUSDPERP
Extended MORPHO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended 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
- $22.77
- Price spread: −0.032% → 0.000%
- −$3.25
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- $8.52
- Costs to cover
- 0.110%
- Break-even
- 4.4 days
Slippage unknown: Reya: no order-book sample; Extended: live order book, 16 min ago. 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 Extended live order book, 16 min ago | 2.07 bp | 23.0 bp −$23 | 221.4 bp −$2,214 | doesn't fit | doesn't fit |
Reya: 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 | −0.2055% | 1h | 2.6527 | +0.046% | $83K | $148K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1406% | 1h | 2.6523 | +0.029% | $11K | $911 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0944% | 1h | 2.6418 | −0.367% | $868 | $13K | 5x | as long as short |
| Bybit MORPHOUSDT | −0.0535% | 4h | 2.6500 | −0.057% | $8.6M | $9.7M | 25x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0489% | 1h | 2.6514 | −0.004% | $26K | $1.8M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0482% | 4h | 2.6518 | +0.011% | $29K | $154K | 10x | as long as short |
| Injective MORPHO/USDC PERP | −0.0385% | 1h | 2.6610 | +0.358% | $37 | $198K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0296% | 1h | 2.6617 | +0.384% | $77K | $45K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6505 | −0.038% | $647K | $221K | 20x | as long as short |
| Gate MORPHO_USDT | −0.0180% | 4h | 2.6536 | +0.079% | $774K | $548K | 50x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Bybit MORPHOUSDT
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
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 | −0.0166% | 4h | 2.6528 | +0.048% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6540 | +0.094% | $34K | $493K | 5x | as long as short |
| Reya MORPHORUSDPERPlong | −0.0004% | 1h | 2.6515 | long leg | $16 | — | 10x | |
| Lighter MORPHO | +0.0096% | 1h | 2.6551 | +0.135% | $316K | $340K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6485 | −0.114% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6576 | +0.229% | $6.2M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6558 | +0.161% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6497 | −0.069% | $16.2M | $26.6M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6509 | −0.023% | $3.2M | $4.4M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6504 | −0.042% | $5.5M | $1.2M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6527 | +0.045% | $620K | $268K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6520 | +0.018% | $2.9M | $1.9M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6516 | +0.003% | — | $1.5M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6494 | −0.079% | $644K | $1.2M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6513 | −0.008% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USDshort | +0.0104% | 1h | 2.6507 | −0.032% | $103K | $301K | 10x | |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6556 | +0.154% | $1K | — | 100x | as long as short |
Orderly PERP_MORPHO_USDC
Phoenix MORPHO
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]