MORPHO

Alert

Funding spread now, next payment 18:00 UTC−0.1412%/8h

next payment, per $10,000−$1.77paid, last 24h−0.172%paid, last 3 days−0.268%to open and closeno order book

The current rate is far above what this pair has been paying: over the last 3 days it paid -0.268% in total (about -34.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.77 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX MORPHO-USD	2.7147	0.0100	pay 0.0013% / 1h	58m 57s	$23K	$2K	5x
Short	01 Exchange MORPHOUSD	2.7085	−0.1312	pay 0.0164% / 1h	58m 57s	$890	$10K	5x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee SoDEXbpFee 01 ExchangebpOrdersRate

Funding earned: −$296.52
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$311.52
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; 01 Exchange: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: −0.228%
Avg gap 7d: —

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 01 Exchange no order-book sample	—	—	—	—	—

SoDEX and 01 Exchange: 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 26 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
01 Exchange MORPHOUSDshort	−0.1312%	1h	$890	$10K	5x
Deribit MORPHO_USDC-PERPETUAL	−0.1294%	1h	$11K	$443	10x	as long as short
Kraken Futures PF_MORPHOUSD	−0.0920%	1h	$93K	$182K	20x	as long as short
Polymarket Perps MORPHO-USD	−0.0712%	1h	$27K	$2.9M	5x	as long as short
Gate MORPHO_USDT	−0.0620%	4h	$764K	$536K	50x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0336%	1h	$79K	$49K	25x	as long as short
Bybit MORPHOUSDT	−0.0240%	4h	$9.0M	$10.8M	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0157%	4h	$10K	$34K	10x	as long as short
Phoenix MORPHO	−0.0146%	1h	$35K	$516K	5x	as long as short
BloFin MORPHO-USDT	−0.0105%	4h	$677K	$225K	20x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Reya MORPHORUSDPERP	−0.0004%	1h	$16	—	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	$38	$34K	5.5x	as long as short
MEXC MORPHO_USDT	+0.0052%	4h	$4.8M	$1.2M	100x	as long as short
Binance MORPHOUSDT	+0.0053%	4h	$16.7M	$29.3M	75x	as long as short
Extended MORPHO-USD	+0.0056%	1h	$102K	$304K	10x	as long as short
Lighter MORPHO	+0.0096%	1h	$319K	$364K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	$6.6M	$7.8M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	$59K	$34K	20x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	$3.2M	$5.2M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	$659K	$363K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	$3.0M	$2.3M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	—	$1.5M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	$667K	$1.4M	—	as long as short
SoDEX MORPHO-USDlong	+0.0100%	1h	$23K	$2K	5x
GMX MORPHO/USD [ETH-USDC]	L +0.0197% / S −0.0897%	1h	$2K	—	100x	as long as short