Funding you earn now, next payment 02:00 UTC−0.0265%/8h= −29.0% APRnext payment −$0.33 per $10,000 · paid last 24h −0.076%
Price spread now: Polymarket Perps against SoDEX−0.137%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 −$8 a day on $10k at the current rate, and Polymarket Perps is 0.137% cheaper against SoDEX than usual: you would sell low and buy high (−$14 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 | 2.6348 | 0.0100 | pay 0.0013% / 1h | 44m 17s | $22K | $4K | 5x |
| Short | Polymarket Perps MORPHO-USD | 2.6312 | −0.0165 | pay 0.0021% / 1h | 44m 17s | $37K | $1.8M | 5x |
SoDEX MORPHO-USD
Polymarket Perps MORPHO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket Perps 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
- −$55.64
- Price spread: −0.137% → 0.000%
- −$13.66
- Slippage, 4 orders
- no order book: not counted
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$85.3
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: SoDEX: no order-book sample; Polymarket Perps: 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 Polymarket Perps live order book, 4 min ago | 3.61 bp | 7.6 bp −$8 | 8.6 bp −$86 | 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 | −0.1902% | 1h | 2.6338 | −0.039% | $80K | $126K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0584% | 1h | 2.6343 | −0.019% | $11K | $785 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0560% | 1h | 2.6280 | −0.258% | $864 | $11K | 5x | as long as short |
| BloFin MORPHO-USDT | −0.0237% | 4h | 2.6347 | −0.004% | $643K | $238K | 20x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0232% | 1h | 2.6471 | +0.467% | $76K | $43K | 25x | as long as short |
| Polymarket Perps MORPHO-USDshort | −0.0165% | 1h | 2.6312 | −0.137% | $37K | $1.8M | 5x | |
| Orderly PERP_MORPHO_USDC | −0.0151% | 4h | 2.6334 | −0.053% | $10K | $34K | 10x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0070% | 4h | 2.6366 | +0.068% | $40K | $133K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6304 | −0.166% | $16 | — | 10x | as long as short |
| Gate MORPHO_USDT | +0.0030% | 4h | 2.6315 | −0.125% | $757K | $495K | 50x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
BloFin MORPHO-USDT
Coinbase International MORPHO-PERP-INTX
Orderly PERP_MORPHO_USDC
GRVT MORPHO_USDT_Perp
Reya MORPHORUSDPERP
Gate MORPHO_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix MORPHO | +0.0030% | 1h | 2.6363 | +0.057% | $43K | $426K | 5x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +0.311% | $37 | $242K | 5.5x | as long as short |
| Variational Omni MORPHO | +0.0082% | 4h | 2.6341 | −0.027% | $627K | $924K | — | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6429 | +0.307% | $317K | $319K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6277 | −0.268% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6370 | +0.083% | $6.2M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6324 | −0.091% | $58K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6333 | −0.057% | $15.9M | $25.1M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6340 | −0.030% | $8.3M | $9.3M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6360 | +0.046% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6310 | −0.144% | $5.5M | $878K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6331 | −0.065% | $595K | $255K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6341 | −0.027% | $2.9M | $1.7M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6323 | −0.095% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USDlong | +0.0100% | 1h | 2.6348 | long leg | $22K | $4K | 5x | |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6327 | −0.080% | $101K | $358K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −0.4126% | 1h | 2.6339 | −0.036% | $1K | — | 100x | as long as short |
Phoenix MORPHO
Injective MORPHO/USDC PERP
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]