Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against BingX+0.092%7-day average +0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$186as in the Funding arb table

Net, price: spread back to 7d avg − costs−$179as in the Price arb table

costs, in and out, $10k−$1851.853% of the position

Long on BingX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.009%−$1 on $10k

Price spread, last 4 days (all we have)−0.201%−$20 · spread now +0.092%, 7d avg +0.025%

Together, before fees−0.210%−$21 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.067% dearer against BingX than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX MORPHO-USDT	2.6066	0.0100	pay 0.0050% / 4h	42m 18s	—	$1.4M	—
Short	KuCoin MORPHOUSDTM	2.6090	0.0100	get 0.0050% / 4h	42m 18s	$594K	$251K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against BingX. 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 BingXbpFee KuCoinbpOrdersPrice spread, now +0.092%Rate

Funding earned: $0
Price spread: +0.092% → +0.025%: $6.72
Slippage, 4 orders: −$163.34
Fee BingX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$178.62
Costs to cover: 1.853%
Break-even: never at this rate

Slippage from BingX: live order book, 4 min ago; KuCoin: live order book, 41 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 BingX live order book, 4 min ago	2.50 bp	15.0 bp −$15	34.9 bp −$349	370.6 bp −$37.1K	696.7 bp −$348.4K
Sell KuCoin live order book, 41 min ago	4.94 bp	90.7 bp −$91	148.8 bp −$1,488	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	2.6020	−0.175%	$81K	$128K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1284%	1h	2.6034	−0.123%	$11K	$759	10x	as long as short
01 Exchange MORPHOUSD	−0.1024%	1h	2.5972	−0.361%	$853	$9K	5x	as long as short
Polymarket Perps MORPHO-USD	−0.0304%	1h	2.6048	−0.069%	$25K	$1.7M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0268%	4h	2.6005	−0.233%	$34K	$150K	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0224%	1h	2.6172	+0.407%	$75K	$42K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6032	−0.130%	$638K	$239K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0153%	4h	2.6041	−0.096%	$10K	$34K	10x	as long as short
Gate MORPHO_USDT	−0.0012%	4h	2.6060	−0.023%	$762K	$482K	50x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.6044	−0.085%	$16	—	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix MORPHO	0.0000%	1h	2.6040	−0.100%	$43K	$370K	5x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+1.396%	$37	$242K	5.5x	as long as short
Bybit MORPHOUSDT	+0.0082%	4h	2.6068	+0.008%	$8.2M	$9.2M	25x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6077	+0.042%	$313K	$309K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6029	−0.140%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6089	+0.088%	$6.1M	$6.9M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6072	+0.023%	$57K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6032	−0.130%	$15.7M	$25.2M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6063	−0.012%	$3.2M	$4.3M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6030	−0.138%	$5.9M	$809K	100x	as long as short
KuCoin MORPHOUSDTMshort	+0.0100%	4h	2.6090	+0.092%	$594K	$251K	50x
Bitget MORPHOUSDT	+0.0100%	4h	2.6040	−0.100%	$2.8M	$1.8M	75x	as long as short
BingX MORPHO-USDTlong	+0.0100%	4h	2.6066	long leg	—	$1.4M	—
Variational Omni MORPHO	+0.0100%	4h	2.6035	−0.118%	$621K	$829K	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6033	−0.127%	$21K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6030	−0.137%	$100K	$350K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0186% / S −15.6829%	1h	2.6066	−0.001%	$1K	—	100x	as long as short