Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.029%
Price spread now: Bybit against Binance+0.038%7-day average +0.088% · you sell dearer than you buy
Net, funding: paid 7d − costs−$76as in the Funding arb table
Net, price: spread back to 7d avg − costs−$76as in the Price arb table
costs, in and out, $10k−$710.714% of the position
Funding, last 7 days−0.048%−$5 on $10k
+Price spread, last 7 days+0.078%+$8 · spread now +0.038%, 7d avg +0.088%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.050% cheaper against Binance than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.088%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance MORPHOUSDT | 2.6033 | 0.0100 | pay 0.0050% / 4h | 51m 37s | $15.7M | $25.3M | 75x |
| Short | Bybit MORPHOUSDT | 2.6043 | 0.0100 | get 0.0050% / 4h | 51m 37s | $8.2M | $9.2M | 25x |
Binance MORPHOUSDT
Bybit MORPHOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Binance. 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
- $0
- Price spread: +0.038% → +0.088%
- −$4.98
- Slippage, 4 orders
- −$50.36
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$76.34
- Costs to cover
- 0.714%
- Break-even
- never at this rate
Slippage from Binance: live order book, 5 min ago; Bybit: live order book, 1 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, 5 min ago | 0.57 bp | 15.8 bp −$16 | 42.3 bp −$423 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 1 min ago | 1.91 bp | 19.4 bp −$19 | 65.5 bp −$655 | 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 | −0.1665% | 1h | 2.6018 | −0.057% | $81K | $128K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1245% | 1h | 2.6050 | +0.065% | $11K | $759 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0824% | 1h | 2.5982 | −0.196% | $854 | $9K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0248% | 1h | 2.6092 | +0.227% | $25K | $1.7M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0232% | 4h | 2.6112 | +0.303% | $32K | $142K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0224% | 1h | 2.6172 | +0.534% | $75K | $42K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6112 | +0.303% | $638K | $239K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0154% | 4h | 2.6050 | +0.065% | $10K | $34K | 10x | as long as short |
| Gate MORPHO_USDT | −0.0016% | 4h | 2.6080 | +0.181% | $755K | $478K | 50x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.6088 | +0.213% | $16 | — | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDC
Gate MORPHO_USDT
Reya MORPHORUSDPERPShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix MORPHO | 0.0000% | 1h | 2.6144 | +0.426% | $43K | $370K | 5x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +1.525% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6069 | +0.139% | $313K | $309K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6012 | −0.081% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6078 | +0.172% | $6.1M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6095 | +0.239% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDTlong | +0.0100% | 4h | 2.6033 | long leg | $15.7M | $25.3M | 75x | |
| Bybit MORPHOUSDTshort | +0.0100% | 4h | 2.6043 | +0.038% | $8.2M | $9.2M | 25x | |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6053 | +0.077% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6030 | −0.012% | $5.8M | $788K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6083 | +0.192% | $592K | $251K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6076 | +0.165% | $2.8M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6082 | +0.188% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6166 | +0.510% | $623K | $847K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6037 | +0.015% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6016 | −0.065% | $100K | $348K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6088 | +0.213% | $1K | — | 100x | as long as short |
Phoenix MORPHO
Injective MORPHO/USDC PERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]