Funding you earn now, next payment 09:00 UTC−0.1048%/8h= −114.8% APRpaid last 24h −0.301%
Price spread now: Deribit against Binance+0.057%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 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 pays, funding is against you. Deribit is 0.057% dearer against Binance than usual: you sell high and buy low (spread +0.057% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$31 a day in funding at the current rate, which eats that in about 4 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance MORPHOUSDT | 2.5729 | −0.0176 | get 0.0088% / 4h | 3h 57m | $15.5M | $23.9M | 75x |
| Short | Deribit MORPHO_USDC-PERPETUAL | 2.5744 | −0.1224 | pay 0.0153% / 1h | 57m 50s | $10K | $3K | 10x |
Binance MORPHOUSDT
Deribit MORPHO_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$220.14
- Price spread: +0.057% → 0.000%
- $5.72
- Slippage, 4 orders
- no order book: not counted
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$231.42
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Binance: live order book, 13 min ago; Deribit: no order-book sample. 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 Binance live order book, 13 min ago | 0.58 bp | 13.2 bp −$13 | 41.2 bp −$412 | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
Deribit: 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 | −0.2474% | 1h | 2.5697 | −0.127% | $84K | $134K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUALshort | −0.1224% | 1h | 2.5744 | +0.057% | $10K | $3K | 10x | |
| 01 Exchange MORPHOUSD | −0.1176% | 1h | 2.5742 | +0.049% | $846 | $9K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0682% | 4h | 2.5773 | +0.169% | $30K | $123K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0552% | 1h | 2.5369 | −1.400% | $69K | $36K | 25x | as long as short |
| Variational Omni MORPHO | −0.0464% | 4h | 2.5782 | +0.203% | $615K | $526K | — | as long as short |
| BloFin MORPHO-USDT | −0.0411% | 4h | 2.5773 | +0.170% | $630K | $238K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0271% | 4h | 2.5737 | +0.030% | $10K | $34K | 10x | as long as short |
| Aster MORPHOUSDT | −0.0185% | 4h | 2.5768 | +0.150% | $54K | $49K | 20x | as long as short |
| Phoenix MORPHO | −0.0185% | 1h | 2.5805 | +0.294% | $33K | $307K | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
Variational Omni MORPHO
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDC
Aster MORPHOUSDT
Phoenix MORPHOShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended MORPHO-USD | −0.0176% | 1h | 2.5728 | −0.005% | $99K | $375K | 10x | as long as short |
| Binance MORPHOUSDTlong | −0.0176% | 4h | 2.5729 | long leg | $15.5M | $23.9M | 75x | |
| MEXC MORPHO_USDT | −0.0170% | 4h | 2.5742 | +0.049% | $6.3M | $909K | 100x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.5745 | +0.061% | $15 | — | 10x | as long as short |
| Gate MORPHO_USDT | +0.0032% | 4h | 2.5741 | +0.046% | $757K | $483K | 50x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +2.723% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.5782 | +0.206% | $311K | $283K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5777 | +0.184% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.5804 | +0.290% | $5.9M | $7.0M | 5x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.5770 | +0.158% | $7.8M | $8.4M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.5757 | +0.108% | $3.2M | $4.1M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.5753 | +0.092% | $586K | $263K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5765 | +0.139% | $2.8M | $1.7M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5754 | +0.096% | — | $1.4M | — | as long as short |
| Polymarket Perps MORPHO-USD | +0.0100% | 1h | 2.5783 | +0.209% | $25K | $1.4M | 5x | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.5732 | +0.011% | $21K | $5K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0156% / S −12.8912% | 1h | 2.5769 | +0.153% | $1K | — | 100x | as long as short |
Extended MORPHO-USD
MEXC MORPHO_USDT
Reya MORPHORUSDPERP
Gate MORPHO_USDT
Injective MORPHO/USDC PERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Polymarket Perps MORPHO-USD
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]