Funding you earn now, next payment 08:00 UTC−0.0241%/8h= −26.4% APRpaid last 24h −0.002%
Price spread now: Binance against SoDEX+0.031%7-day average — · you sell dearer than you buy
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—needs both histories
The price spread pays, funding is against you. Binance is 0.031% dearer against SoDEX than usual: you sell high and buy low (spread +0.031% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 10 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | SoDEX MORPHO-USD | 2.5700 | 0.0100 | pay 0.0013% / 1h | 21m 58s | $22K | $5K | 5x |
| Short | Binance MORPHOUSDT | 2.5708 | −0.0141 | pay 0.0071% / 4h | 21m 58s | $15.5M | $24.1M | 75x |
SoDEX MORPHO-USD
Binance MORPHOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against SoDEX. 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
- −$50.62
- Price spread: +0.031% → 0.000%
- $3.11
- Slippage, 4 orders
- no order book: not counted
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$65.51
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: SoDEX: no order-book sample; Binance: live order book, 4 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 SoDEX no order-book sample | — | — | — | — | — |
| Sell Binance live order book, 4 min ago | 0.58 bp | 16.0 bp −$16 | 35.6 bp −$356 | doesn't fit | doesn't fit |
SoDEX: 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 | |
|---|---|---|---|---|---|---|---|---|
| 01 Exchange MORPHOUSD | −0.1504% | 1h | 2.5617 | −0.323% | $842 | $9K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1381% | 1h | 2.5708 | +0.031% | $10K | $3K | 10x | as long as short |
| Kraken Futures PF_MORPHOUSD | −0.1242% | 1h | 2.5679 | −0.080% | $84K | $133K | 20x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0694% | 4h | 2.5708 | +0.033% | $30K | $134K | 10x | as long as short |
| Bybit MORPHOUSDT | −0.0585% | 4h | 2.5730 | +0.117% | $7.8M | $8.4M | 25x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0496% | 1h | 2.5716 | +0.062% | $70K | $37K | 25x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0425% | 1h | 2.5716 | +0.062% | $26K | $1.4M | 5x | as long as short |
| Variational Omni MORPHO | −0.0390% | 4h | 2.5750 | +0.195% | $614K | $526K | — | as long as short |
| BloFin MORPHO-USDT | −0.0375% | 4h | 2.5729 | +0.113% | $632K | $238K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0227% | 4h | 2.5703 | +0.012% | $10K | $34K | 10x | as long as short |
01 Exchange MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
Kraken Futures PF_MORPHOUSD
GRVT MORPHO_USDT_Perp
Bybit MORPHOUSDT
Coinbase International MORPHO-PERP-INTX
Polymarket Perps MORPHO-USD
Variational Omni MORPHO
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDCShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix MORPHO | −0.0185% | 1h | 2.5742 | +0.163% | $33K | $336K | 5x | as long as short |
| Gate MORPHO_USDT | −0.0164% | 4h | 2.5738 | +0.148% | $754K | $503K | 50x | as long as short |
| Extended MORPHO-USD | −0.0144% | 1h | 2.5701 | +0.004% | $99K | $375K | 10x | as long as short |
| Binance MORPHOUSDTshort | −0.0141% | 4h | 2.5708 | +0.031% | $15.5M | $24.1M | 75x | |
| MEXC MORPHO_USDT | −0.0134% | 4h | 2.5708 | +0.031% | $6.2M | $907K | 100x | as long as short |
| Aster MORPHOUSDT | −0.0029% | 4h | 2.5720 | +0.078% | $54K | $48K | 20x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.5706 | +0.023% | $15 | — | 10x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +2.840% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.5746 | +0.180% | $310K | $288K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5690 | −0.039% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.5754 | +0.210% | $5.9M | $7.0M | 5x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.5722 | +0.086% | $3.2M | $4.1M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.5731 | +0.121% | $586K | $264K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5715 | +0.058% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5720 | +0.078% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USDlong | +0.0100% | 1h | 2.5700 | long leg | $22K | $5K | 5x | |
| GMX MORPHO/USD [ETH-USDC] | L +0.0156% / S −12.8912% | 1h | 2.5731 | +0.122% | $1K | — | 100x | as long as short |
Phoenix MORPHO
Gate MORPHO_USDT
Extended MORPHO-USD
MEXC MORPHO_USDT
Aster MORPHOUSDT
Reya MORPHORUSDPERP
Injective MORPHO/USDC PERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
GMX MORPHO/USD [ETH-USDC]