Funding you earn now, next payment 21:00 UTC−0.1851%/8h= −202.7% APRnext payment −$2.31 per $10,000 · paid last 24h +0.094%
Price spread now: Kraken Futures against SoDEX−0.134%7-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—needs both histories
Both sides work against this trade now: funding costs −$56 a day on $10k at the current rate, and Kraken Futures is 0.134% cheaper against SoDEX than usual: you would sell low and buy high (−$13 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | SoDEX MORPHO-USD | 2.7049 | 0.0100 | pay 0.0013% / 1h | 32m 49s | $23K | $3K | 5x |
| Short | Kraken Futures PF_MORPHOUSD | 2.7013 | −0.1751 | pay 0.0219% / 1h | 32m 49s | $85K | $152K | 20x |
SoDEX MORPHO-USD
Kraken Futures PF_MORPHOUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- −$388.69
- Price spread: −0.134% → 0.000%
- −$13.43
- Slippage, 4 orders
- no order book: not counted
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$420.12
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: SoDEX: no order-book sample; Kraken Futures: live order book, 15 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 Kraken Futures live order book, 15 min ago | 42.38 bp | 52.2 bp −$52 | 132.2 bp −$1,322 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_MORPHOUSDshort | −0.1751% | 1h | 2.7013 | −0.134% | $85K | $152K | 20x | |
| Deribit MORPHO_USDC-PERPETUAL | −0.1264% | 1h | 2.7042 | −0.026% | $11K | $721 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0600% | 1h | 2.6980 | −0.255% | $887 | $12K | 5x | as long as short |
| Injective MORPHO/USDC PERP | −0.0425% | 1h | 2.6810 | −0.884% | $47K | $76K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0240% | 1h | 2.7022 | −0.100% | $78K | $47K | 25x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0218% | 4h | 2.6919 | −0.480% | $41K | $150K | 10x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0208% | 4h | 2.7036 | −0.048% | $10K | $34K | 10x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.7023 | −0.096% | $659K | $219K | 20x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0181% | 1h | 2.7023 | −0.096% | $25K | $2.0M | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.7041 | −0.030% | $16 | — | 10x | as long as short |
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
GRVT MORPHO_USDT_Perp
Orderly PERP_MORPHO_USDC
BloFin MORPHO-USDT
Polymarket Perps MORPHO-USD
Reya MORPHORUSDPERPShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix MORPHO | +0.0059% | 1h | 2.6964 | −0.314% | $35K | $471K | 5x | as long as short |
| Gate MORPHO_USDT | +0.0060% | 4h | 2.7126 | +0.285% | $777K | $532K | 50x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.7171 | +0.450% | $323K | $357K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.7020 | −0.108% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.7189 | +0.518% | $6.5M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.7114 | +0.240% | $59K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.7098 | +0.181% | $16.7M | $26.9M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.7147 | +0.362% | $8.9M | $10.2M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.7142 | +0.344% | $3.3M | $4.7M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.7100 | +0.189% | $5.2M | $1.1M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.7118 | +0.255% | $611K | $274K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.7132 | +0.307% | $3.0M | $2.0M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.7131 | +0.303% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6955 | −0.346% | $654K | $1.4M | — | as long as short |
| SoDEX MORPHO-USDlong | +0.0100% | 1h | 2.7049 | long leg | $23K | $3K | 5x | |
| Extended MORPHO-USD | +0.0104% | 1h | 2.7100 | +0.187% | $105K | $305K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0193% / S −16.5420% | 1h | 2.7071 | +0.080% | $1K | — | 100x | as long as short |
Phoenix MORPHO
Gate MORPHO_USDT
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
Variational Omni MORPHO
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]