Funding you earn now, next payment 04:00 UTC−0.0036%/8h= −3.9% APRnext payment −$0.18 per $10,000 · paid last 24h 0.000%
Price spread now: MEXC against BingX−0.102%7-day average −0.044% · you buy dearer than you sell
Net, funding: paid 7d − costs−$42as in the Funding arb table
Net, price: spread back to 7d avg − costs−$46as in the Price arb table
costs, in and out, $10k−$410.406% of the position
Funding, last 7 days−0.017%−$2 on $10k
+Price spread, last 7 days+0.053%+$5 · spread now −0.102%, 7d avg −0.044%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and MEXC is 0.058% cheaper against BingX than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.044%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BingX MORPHO-USDT | 2.6521 | 0.0100 | pay 0.0050% / 4h | 3h 57m | — | $1.4M | — |
| Short | MEXC MORPHO_USDT | 2.6494 | 0.0064 | get 0.0032% / 4h | 3h 57m | $5.5M | $899K | 100x |
BingX MORPHO-USDT
MEXC MORPHO_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC against BingX. 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
- −$7.56
- Price spread: −0.102% → −0.044%
- −$5.78
- Slippage, 4 orders
- −$26.57
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee MEXC: 2 bp × 2 orders
- −$4
- Net
- −$53.91
- Costs to cover
- 0.406%
- Break-even
- never at this rate
Slippage from BingX: live order book, 9 min ago; MEXC: live order book, 5 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, 9 min ago | 2.08 bp | 14.5 bp −$15 | 32.5 bp −$325 | 326.6 bp −$32.7K | 647.5 bp −$323.7K |
| Sell MEXC live order book, 5 min ago | 0.75 bp | 6.3 bp −$6 | 34.3 bp −$343 | 185.7 bp −$18.6K | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit MORPHOUSDT | −0.2320% | 4h | 2.6500 | −0.079% | $8.4M | $9.3M | 25x | as long as short |
| Kraken Futures PF_MORPHOUSD | −0.1836% | 1h | 2.6477 | −0.164% | $81K | $139K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1068% | 1h | 2.6514 | −0.026% | $11K | $788 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0936% | 1h | 2.6457 | −0.241% | $869 | $12K | 5x | as long as short |
| Gate MORPHO_USDT | −0.0730% | 4h | 2.6511 | −0.038% | $768K | $515K | 50x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0677% | 1h | 2.6506 | −0.057% | $28K | $1.7M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0444% | 4h | 2.6547 | +0.097% | $41K | $146K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0280% | 1h | 2.6558 | +0.140% | $76K | $43K | 25x | as long as short |
| Variational Omni MORPHO | −0.0209% | 4h | 2.6531 | +0.039% | $631K | $1.0M | — | as long as short |
| BloFin MORPHO-USDT | −0.0204% | 4h | 2.6519 | −0.008% | $638K | $239K | 20x | as long as short |
Bybit MORPHOUSDT
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Gate MORPHO_USDT
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
Variational Omni MORPHO
BloFin MORPHO-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_MORPHO_USDC | −0.0146% | 4h | 2.6507 | −0.053% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0060% | 1h | 2.6547 | +0.098% | $43K | $471K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6510 | −0.041% | $16 | — | 10x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | −0.343% | $37 | $242K | 5.5x | as long as short |
| Extended MORPHO-USD | +0.0064% | 1h | 2.6492 | −0.110% | $103K | $295K | 10x | as long as short |
| MEXC MORPHO_USDTshort | +0.0064% | 4h | 2.6494 | −0.102% | $5.5M | $899K | 100x | |
| Binance MORPHOUSDT | +0.0065% | 4h | 2.6491 | −0.112% | $16.1M | $26.0M | 75x | as long as short |
| Aster MORPHOUSDT | +0.0069% | 4h | 2.6529 | +0.029% | $58K | $30K | 20x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6558 | +0.139% | $316K | $324K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6487 | −0.129% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6570 | +0.186% | $6.3M | $7.0M | 5x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6501 | −0.075% | $3.2M | $4.5M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6547 | +0.098% | $595K | $267K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6528 | +0.026% | $2.9M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDTlong | +0.0100% | 4h | 2.6521 | long leg | — | $1.4M | — | |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6502 | −0.072% | $22K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0158% / S −0.3418% | 1h | 2.6543 | +0.082% | $1K | — | 100x | as long as short |
Orderly PERP_MORPHO_USDC
Phoenix MORPHO
Reya MORPHORUSDPERP
Injective MORPHO/USDC PERP
Extended MORPHO-USD
Binance MORPHOUSDT
Aster MORPHOUSDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]