Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: BingX against Bitget−0.030%7-day average +0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$780.781% of the position

Long on Bitget Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 7 days+0.112%+$11 · spread now −0.030%, 7d avg +0.047%

Together, before fees+0.112%+$11 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: BingX is 0.077% cheaper against Bitget than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MORPHOUSDT	2.6545	0.0100	pay 0.0050% / 4h	8m 00s	$2.9M	$1.8M	75x
Short	BingX MORPHO-USDT	2.6537	0.0100	get 0.0050% / 4h	8m 00s	—	$1.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Bitget. 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 BitgetbpFee BingXbpOrdersPrice spread, now −0.030%Rate

Funding earned: $0
Price spread: −0.030% → +0.047%: −$7.67
Slippage, 4 orders: −$56.09
Fee Bitget: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$85.76
Costs to cover: 0.781%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; BingX: live order book, 9 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 Bitget live order book, 5 min ago	4.90 bp	24.5 bp −$25	79.2 bp −$792	doesn't fit	doesn't fit
Sell BingX live order book, 9 min ago	2.45 bp	15.6 bp −$16	29.7 bp −$297	156.7 bp −$15.7K	650.2 bp −$325.1K

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	−0.1755%	1h	2.6493	−0.196%	$81K	$143K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0955%	1h	2.6535	−0.038%	$11K	$812	10x	as long as short
01 Exchange MORPHOUSD	−0.0840%	1h	2.6490	−0.207%	$870	$12K	5x	as long as short
Polymarket Perps MORPHO-USD	−0.0455%	1h	2.6533	−0.045%	$28K	$1.7M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0452%	4h	2.6494	−0.192%	$41K	$146K	10x	as long as short
Injective MORPHO/USDC PERP	−0.0405%	1h	2.6430	−0.433%	$37	$242K	5.5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0360%	1h	2.6546	+0.004%	$76K	$43K	25x	as long as short
Bybit MORPHOUSDT	−0.0334%	4h	2.6530	−0.057%	$8.4M	$9.3M	25x	as long as short
BloFin MORPHO-USDT	−0.0185%	4h	2.6556	+0.041%	$639K	$253K	20x	as long as short
Variational Omni MORPHO	−0.0167%	4h	2.6481	−0.240%	$630K	$1.0M	—	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_MORPHO_USDC	−0.0145%	4h	2.6528	−0.064%	$10K	$34K	10x	as long as short
Phoenix MORPHO	−0.0060%	1h	2.6531	−0.053%	$43K	$477K	5x	as long as short
Gate MORPHO_USDT	−0.0056%	4h	2.6538	−0.026%	$770K	$533K	50x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6531	−0.053%	$16	—	10x	as long as short
MEXC MORPHO_USDT	+0.0054%	4h	2.6528	−0.064%	$5.5M	$961K	100x	as long as short
Binance MORPHOUSDT	+0.0056%	4h	2.6530	−0.055%	$16.1M	$26.0M	75x	as long as short
Extended MORPHO-USD	+0.0056%	1h	2.6525	−0.075%	$103K	$298K	10x	as long as short
Aster MORPHOUSDT	+0.0079%	4h	2.6534	−0.043%	$58K	$30K	20x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6574	+0.110%	$316K	$331K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6526	−0.071%	$5K	$3	5x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6530	−0.057%	$3.2M	$4.5M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6554	+0.034%	$595K	$267K	50x	as long as short
Bitget MORPHOUSDTlong	+0.0100%	4h	2.6545	long leg	$2.9M	$1.8M	75x
BingX MORPHO-USDTshort	+0.0100%	4h	2.6537	−0.030%	—	$1.4M	—
SoDEX MORPHO-USD	+0.0100%	1h	2.6530	−0.057%	$22K	$4K	5x	as long as short
Hyperliquid MORPHO	+0.0107%	1h	2.6605	+0.226%	$6.3M	$7.0M	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0158% / S −0.3418%	1h	2.6559	+0.054%	$1K	—	100x	as long as short