Funding you earn now, next payment 00:00 UTC−0.0130%/8h= −14.2% APRnext payment −$0.16 per $10,000 · paid last 24h −0.032%
Price spread now: Phoenix against SoDEX−0.008%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
The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$4 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | SoDEX MORPHO-USD | 2.6534 | 0.0100 | pay 0.0013% / 1h | 32m 50s | $22K | $4K | 5x |
| Short | Phoenix MORPHO | 2.6532 | −0.0030 | pay 0.0004% / 1h | 32m 50s | $43K | $474K | 5x |
SoDEX MORPHO-USD
Phoenix MORPHOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- −$27.32
- Price spread: −0.008% → 0.000%
- −$0.75
- Slippage, 4 orders
- no order book: not counted
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$43.08
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: SoDEX: no order-book sample; Phoenix: live order book, 39 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 Phoenix live order book, 39 min ago | 1.13 bp | 13.0 bp −$13 | 44.5 bp −$445 | 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_MORPHOUSD | −0.1834% | 1h | 2.6496 | −0.143% | $80K | $132K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0691% | 1h | 2.6531 | −0.011% | $11K | $785 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0424% | 1h | 2.6520 | −0.053% | $871 | $13K | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0280% | 1h | 2.6574 | +0.151% | $76K | $43K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6517 | −0.064% | $640K | $234K | 20x | as long as short |
| Variational Omni MORPHO | −0.0192% | 4h | 2.6501 | −0.125% | $630K | $1.0M | — | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0142% | 4h | 2.6523 | −0.041% | $10K | $34K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0094% | 1h | 2.6548 | +0.053% | $29K | $1.7M | 5x | as long as short |
| Phoenix MORPHOshort | −0.0030% | 1h | 2.6532 | −0.008% | $43K | $474K | 5x | |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6536 | +0.009% | $16 | — | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Variational Omni MORPHO
Orderly PERP_MORPHO_USDC
Polymarket Perps MORPHO-USD
Reya MORPHORUSDPERPShow 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 | −0.392% | $37 | $242K | 5.5x | as long as short |
| GRVT MORPHO_USDT_Perp | +0.0076% | 4h | 2.6502 | −0.121% | $41K | $133K | 10x | as long as short |
| Bybit MORPHOUSDT | +0.0086% | 4h | 2.6540 | +0.023% | $8.4M | $9.2M | 25x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6572 | +0.142% | $318K | $325K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6557 | +0.086% | $5K | $3 | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6538 | +0.014% | $58K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6515 | −0.072% | $16.1M | $25.8M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6519 | −0.057% | $3.2M | $4.5M | 20x | as long as short |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.6533 | −0.004% | $769K | $516K | 50x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6520 | −0.053% | $5.5M | $903K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6551 | +0.064% | $594K | $265K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6526 | −0.030% | $2.9M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6535 | +0.004% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USDlong | +0.0100% | 1h | 2.6534 | long leg | $22K | $4K | 5x | |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6509 | −0.094% | $101K | $438K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −0.4126% | 1h | 2.6543 | +0.035% | $1K | — | 100x | as long as short |
| Hyperliquid MORPHO | +0.0385% | 1h | 2.6593 | +0.222% | $6.3M | $7.0M | 5x | as long as short |
Injective MORPHO/USDC PERP
GRVT MORPHO_USDT_Perp
Bybit MORPHOUSDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Aster MORPHOUSDT
Binance MORPHOUSDT
OKX MORPHO-USDT-SWAP
Gate MORPHO_USDT
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]
Hyperliquid MORPHO