MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0300%/8h= −32.9% APRnext payment −$1.50 per $10,000 · paid last 24h −0.088%

Price spread now: BloFin against Binance−0.179%101s7-day average +0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$600.604% of the position

Long on Binance Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.360%+$36 on $10k

Price spread, last 4 days (all we have)+0.116%+$12 · spread now −0.179%, 7d avg +0.009%

Together, before fees+0.476%+$48 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and BloFin is 0.188% cheaper against Binance than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of +0.009%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.360%, so the current rate has only just turned against you. The two prices were read 101 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MORPHOUSDT	2.5938	0.0100	pay 0.0050% / 4h	2h 15m	$15.7M	$24.2M	75x
Short	BloFin MORPHO-USDT	2.5892	−0.0200	pay 0.0100% / 4h	2h 15m	$630K	$239K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Binance. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BinancebpFee BloFinbpOrdersPrice spread, now −0.179%Rate

Funding earned: −$63
Price spread: −0.179% → +0.009%: −$18.81
Slippage, 4 orders: −$38.38
Fee Binance: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$142.19
Costs to cover: 0.604%
Break-even: never at this rate

Slippage from Binance: live order book, 11 min ago; BloFin: live order book, 11 min ago.

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 Binance live order book, 11 min ago	0.19 bp	12.2 bp −$12	33.4 bp −$334	doesn't fit	doesn't fit
Sell BloFin live order book, 11 min ago	0.58 bp	16.9 bp −$17	29.1 bp −$291	doesn't fit	doesn't fit

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	−0.1557%	1h	2.5928	−0.039%	$82K	$130K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1521%	1h	2.5928	−0.040%	$11K	$2K	10x	as long as short
01 Exchange MORPHOUSD	−0.0808%	1h	2.5919	−0.075%	$852	$9K	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0306%	4h	2.5912	−0.101%	$33K	$134K	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0216%	1h	2.5957	+0.072%	$73K	$39K	25x	as long as short
BloFin MORPHO-USDTshort	−0.0200%	4h	2.5892	−0.179%	$630K	$239K	20x
Phoenix MORPHO	−0.0154%	1h	2.5945	+0.025%	$33K	$330K	5x	as long as short
Orderly PERP_MORPHO_USDC	−0.0129%	4h	2.5941	+0.010%	$10K	$34K	10x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.5943	+0.017%	$16	—	10x	as long as short
Polymarket Perps MORPHO-USD	+0.0010%	1h	2.5950	+0.045%	$25K	$1.5M	5x	as long as short

Show 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	+1.895%	$37	$242K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	2.5984	+0.176%	$313K	$295K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.5956	+0.069%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.5985	+0.180%	$5.9M	$6.9M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.5947	+0.032%	$57K	$31K	20x	as long as short
Binance MORPHOUSDTlong	+0.0100%	4h	2.5938	long leg	$15.7M	$24.2M	75x
Bybit MORPHOUSDT	+0.0100%	4h	2.5970	+0.122%	$8.0M	$8.5M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.5973	+0.133%	$3.2M	$4.0M	20x	as long as short
Gate MORPHO_USDT	+0.0100%	4h	2.5932	−0.025%	$758K	$498K	50x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.5938	−0.002%	$6.2M	$911K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.5970	+0.122%	$598K	$247K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.5959	+0.079%	$2.8M	$1.6M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.5952	+0.052%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.5946	+0.028%	$617K	$677K	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.5928	−0.040%	$21K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.5933	−0.020%	$100K	$347K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0143% / S +0.0040%	1h	2.5963	+0.095%	$6K	—	100x	as long as short