Funding you earn now, next payment 12:00 UTC−0.0161%/8h= −17.7% APRnext payment −$0.81 per $10,000 · paid last 24h −0.060%
Price spread now: Orderly against Binance+0.001%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$5 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance MORPHOUSDT | 2.6010 | −0.0155 | get 0.0078% / 4h | 3h 16m | $15.6M | $23.5M | 75x |
| Short | Orderly PERP_MORPHO_USDC | 2.6010 | −0.0317 | pay 0.0158% / 4h | 3h 16m | $10K | $34K | 10x |
Binance MORPHOUSDT
Orderly PERP_MORPHO_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$33.89
- Price spread: +0.001% → 0.000%
- $0.11
- Slippage, 4 orders
- no order book: not counted
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$49.78
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Binance: live order book, 10 min ago; Orderly: 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, 10 min ago | 0.39 bp | 11.7 bp −$12 | 36.9 bp −$369 | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | −0.2444% | 1h | 2.6016 | +0.023% | $84K | $124K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.0760% | 1h | 2.5984 | −0.099% | $854 | $9K | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0552% | 1h | 2.5746 | −1.014% | $70K | $37K | 25x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0480% | 1h | 2.6011 | +0.005% | $11K | $3K | 10x | as long as short |
| BloFin MORPHO-USDT | −0.0395% | 4h | 2.5967 | −0.164% | $632K | $241K | 20x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0386% | 4h | 2.5854 | −0.598% | $30K | $123K | 10x | as long as short |
| Variational Omni MORPHO | −0.0367% | 4h | 2.5801 | −0.801% | $614K | $526K | — | as long as short |
| Orderly PERP_MORPHO_USDCshort | −0.0317% | 4h | 2.6010 | +0.001% | $10K | $34K | 10x | |
| Aster MORPHOUSDT | −0.0313% | 4h | 2.6018 | +0.031% | $54K | $48K | 20x | as long as short |
| Binance MORPHOUSDTlong | −0.0155% | 4h | 2.6010 | long leg | $15.6M | $23.5M | 75x |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Coinbase International MORPHO-PERP-INTX
Deribit MORPHO_USDC-PERPETUAL
BloFin MORPHO-USDT
GRVT MORPHO_USDT_Perp
Variational Omni MORPHO
Aster MORPHOUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix MORPHO | −0.0155% | 1h | 2.5920 | −0.345% | $33K | $308K | 5x | as long as short |
| MEXC MORPHO_USDT | −0.0154% | 4h | 2.6010 | +0.001% | $6.4M | $933K | 100x | as long as short |
| Extended MORPHO-USD | −0.0152% | 1h | 2.6008 | −0.007% | $100K | $370K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.5942 | −0.259% | $16 | — | 10x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +1.616% | $37 | $242K | 5.5x | as long as short |
| Bybit MORPHOUSDT | +0.0072% | 4h | 2.6011 | +0.005% | $7.8M | $8.3M | 25x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6079 | +0.268% | $313K | $284K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5974 | −0.138% | $5K | $203 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6044 | +0.132% | $5.9M | $7.0M | 5x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6026 | +0.063% | $3.2M | $4.1M | 20x | as long as short |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.6011 | +0.005% | $764K | $489K | 50x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6021 | +0.043% | $581K | $267K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5992 | −0.068% | $2.8M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6013 | +0.013% | — | $1.4M | — | as long as short |
| Polymarket Perps MORPHO-USD | +0.0100% | 1h | 2.6010 | +0.001% | $25K | $1.3M | 5x | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6005 | −0.018% | $21K | $5K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0157% / S −12.8912% | 1h | 2.6000 | −0.036% | $1K | — | 100x | as long as short |
Phoenix MORPHO
MEXC MORPHO_USDT
Extended MORPHO-USD
Reya MORPHORUSDPERP
Injective MORPHO/USDC PERP
Bybit MORPHOUSDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
OKX MORPHO-USDT-SWAP
Gate MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Polymarket Perps MORPHO-USD
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]