MORPHO

Alert

Funding spread now, next payment 18:00 UTC−0.0933%/8h

next payment, per $10,000−$1.17paid, last 24h+0.168%paid, last 3 days+0.147%to open and closeno order book

The current rate is far above what this pair has been paying: over the last 3 days it paid 0.147% in total (about 18.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.17 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya MORPHORUSDPERP	2.6755	−0.0004	get 0.0001% / 1h	12m 43s	$16	—	10x
Short	Kraken Futures PF_MORPHOUSD	2.6662	−0.0937	pay 0.0117% / 1h	12m 43s	$85K	$169K	20x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee ReyabpFee Kraken FuturesbpOrdersRate

Funding earned: −$195.89
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$211.89
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Kraken Futures: live order book, 26 min ago. Net counts fees only.

Price risk

price view

Price gap now: −0.347%
Avg gap 7d: —

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Kraken Futures live order book, 26 min ago	17.85 bp	73.3 bp −$73	165.5 bp −$1,655	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 26 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Deribit MORPHO_USDC-PERPETUAL	−0.1057%	1h	$10K	$745	10x	as long as short
Kraken Futures PF_MORPHOUSDshort	−0.0937%	1h	$85K	$169K	20x
01 Exchange MORPHOUSD	−0.0872%	1h	$878	$11K	5x	as long as short
Gate MORPHO_USDT	−0.0740%	4h	$765K	$548K	50x	as long as short
Polymarket Perps MORPHO-USD	−0.0444%	1h	$27K	$2.7M	5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0336%	1h	$78K	$48K	25x	as long as short
BloFin MORPHO-USDT	−0.0236%	4h	$670K	$204K	20x	as long as short
Bybit MORPHOUSDT	−0.0204%	4h	$8.8M	$10.4M	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0198%	4h	$10K	$34K	10x	as long as short
Phoenix MORPHO	−0.0059%	1h	$35K	$517K	5x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Reya MORPHORUSDPERPlong	−0.0004%	1h	$16	—	10x
Binance MORPHOUSDT	+0.0002%	4h	$16.5M	$28.0M	75x	as long as short
MEXC MORPHO_USDT	+0.0004%	4h	$4.8M	$1.2M	100x	as long as short
Extended MORPHO-USD	+0.0008%	1h	$101K	$304K	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	$38	$34K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	$315K	$367K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0099%	8h	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	$6.4M	$8.0M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	$58K	$32K	20x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	$3.2M	$4.8M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	$596K	$365K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	$2.9M	$2.1M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	—	$1.5M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	$655K	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	$22K	$2K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0158% / S −0.0698%	1h	$2K	—	100x	as long as short