Funding you earn now, next payment 02:00 UTC−0.0685%/8h= −75.0% APRnext payment −$0.86 per $10,000 · paid last 24h −0.288%
Price spread now: Deribit against SoDEX+0.038%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. Deribit is 0.038% dearer against SoDEX than usual: you sell high and buy low (spread +0.038% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$21 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 | SoDEX MORPHO-USD | 2.6305 | 0.0100 | pay 0.0013% / 1h | 44m 53s | $22K | $4K | 5x |
| Short | Deribit MORPHO_USDC-PERPETUAL | 2.6315 | −0.0585 | pay 0.0073% / 1h | 44m 53s | $11K | $785 | 10x |
SoDEX MORPHO-USD
Deribit MORPHO_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$143.92
- Price spread: +0.038% → 0.000%
- $3.8
- Slippage, 4 orders
- no order book: not counted
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$155.12
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: SoDEX: 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 SoDEX no order-book sample | — | — | — | — | — |
| Sell Deribit no order-book sample | — | — | — | — | — |
SoDEX 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 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 | −0.1904% | 1h | 2.6318 | +0.051% | $80K | $126K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUALshort | −0.0585% | 1h | 2.6315 | +0.038% | $11K | $785 | 10x | |
| 01 Exchange MORPHOUSD | −0.0552% | 1h | 2.6291 | −0.053% | $864 | $11K | 5x | as long as short |
| BloFin MORPHO-USDT | −0.0237% | 4h | 2.6347 | +0.160% | $643K | $238K | 20x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0232% | 1h | 2.6471 | +0.631% | $76K | $43K | 25x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0157% | 1h | 2.6320 | +0.057% | $37K | $1.8M | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0151% | 4h | 2.6305 | 0.000% | $10K | $34K | 10x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0070% | 4h | 2.6366 | +0.232% | $40K | $133K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6308 | +0.011% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | +0.0030% | 1h | 2.6363 | +0.220% | $43K | $426K | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
BloFin MORPHO-USDT
Coinbase International MORPHO-PERP-INTX
Polymarket Perps MORPHO-USD
Orderly PERP_MORPHO_USDC
GRVT MORPHO_USDT_Perp
Reya MORPHORUSDPERP
Phoenix MORPHOShow 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 | +0.475% | $37 | $242K | 5.5x | as long as short |
| Gate MORPHO_USDT | +0.0036% | 4h | 2.6315 | +0.038% | $757K | $495K | 50x | as long as short |
| Variational Omni MORPHO | +0.0082% | 4h | 2.6341 | +0.137% | $627K | $924K | — | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6428 | +0.468% | $317K | $319K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6284 | −0.080% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6368 | +0.239% | $6.2M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6324 | +0.072% | $58K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6286 | −0.072% | $15.9M | $25.2M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6299 | −0.023% | $8.3M | $9.3M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6303 | −0.008% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6299 | −0.023% | $5.5M | $876K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6347 | +0.160% | $595K | $255K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6318 | +0.049% | $2.9M | $1.7M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6305 | 0.000% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USDlong | +0.0100% | 1h | 2.6305 | long leg | $22K | $4K | 5x | |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6298 | −0.026% | $101K | $358K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −0.4126% | 1h | 2.6331 | +0.097% | $1K | — | 100x | as long as short |
Injective MORPHO/USDC PERP
Gate MORPHO_USDT
Variational Omni MORPHO
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]