Funding you earn now, next payment 12:00 UTC+0.0247%/8h= +27.0% APRnext payment +$1.23 per $10,000 · paid last 24h +0.085%
Price spread now: Binance against BloFin+0.142%81s7-day average −0.008% · you sell dearer than you buy
Net, funding: paid 7d − costs−$101as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$680.677% of the position
Funding, last 7 days−0.336%−$34 on $10k
+Price spread, last 4 days (all we have)−0.030%−$3 · spread now +0.142%, 7d avg −0.008%
=Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Binance is 0.150% dearer against BloFin than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of −0.008%. Mind the row above: over the last 7 days funding on this pair cost −0.336%, so the current rate has only just turned in your favour. The two prices were read 81 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BloFin MORPHO-USDT | 2.6044 | −0.0365 | get 0.0182% / 4h | 3h 07m | $630K | $232K | 20x |
| Short | Binance MORPHOUSDT | 2.6081 | −0.0118 | pay 0.0059% / 4h | 3h 07m | $15.7M | $23.2M | 75x |
BloFin MORPHO-USDT
Binance MORPHOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against BloFin. 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
- $51.81
- Price spread: +0.142% → −0.008%
- $15.03
- Slippage, 4 orders
- −$45.72
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$0.88
- Costs to cover
- 0.677%
- Break-even
- 7.1 days
Slippage from BloFin: live order book, 4 min ago; Binance: live order book, 3 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 BloFin live order book, 4 min ago | 2.11 bp | 16.9 bp −$17 | 27.4 bp −$274 | doesn't fit | doesn't fit |
| Sell Binance live order book, 3 min ago | 0.38 bp | 13.8 bp −$14 | 35.9 bp −$359 | 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 | −0.2439% | 1h | 2.6062 | +0.068% | $84K | $125K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0785% | 1h | 2.6068 | +0.092% | $11K | $3K | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0712% | 1h | 2.6074 | +0.115% | $857 | $9K | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0552% | 1h | 2.5932 | −0.430% | $70K | $38K | 25x | as long as short |
| BloFin MORPHO-USDTlong | −0.0365% | 4h | 2.6044 | long leg | $630K | $232K | 20x | |
| Orderly PERP_MORPHO_USDC | −0.0322% | 4h | 2.6062 | +0.069% | $10K | $34K | 10x | as long as short |
| Aster MORPHOUSDT | −0.0300% | 4h | 2.6081 | +0.144% | $57K | $50K | 20x | as long as short |
| Variational Omni MORPHO | −0.0294% | 4h | 2.6056 | +0.045% | $620K | $526K | — | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0236% | 4h | 2.6060 | +0.062% | $39K | $136K | 10x | as long as short |
| Phoenix MORPHO | −0.0155% | 1h | 2.6083 | +0.150% | $33K | $308K | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Coinbase International MORPHO-PERP-INTX
Orderly PERP_MORPHO_USDC
Aster MORPHOUSDT
Variational Omni MORPHO
GRVT MORPHO_USDT_Perp
Phoenix MORPHOShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC MORPHO_USDT | −0.0124% | 4h | 2.6075 | +0.119% | $6.4M | $934K | 100x | as long as short |
| Extended MORPHO-USD | −0.0120% | 1h | 2.6058 | +0.053% | $104K | $373K | 10x | as long as short |
| Binance MORPHOUSDTshort | −0.0118% | 4h | 2.6081 | +0.142% | $15.7M | $23.2M | 75x | |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.6073 | +0.113% | $16 | — | 10x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +1.482% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6150 | +0.408% | $314K | $284K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6089 | +0.174% | $5K | $203 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6091 | +0.180% | $6.0M | $7.0M | 5x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6090 | +0.177% | $7.9M | $8.3M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6076 | +0.123% | $3.2M | $4.1M | 20x | as long as short |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.6089 | +0.173% | $765K | $490K | 50x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6086 | +0.161% | $576K | $269K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6064 | +0.077% | $2.8M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6085 | +0.157% | — | $1.4M | — | as long as short |
| Polymarket Perps MORPHO-USD | +0.0100% | 1h | 2.6120 | +0.292% | $25K | $1.3M | 5x | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6065 | +0.081% | $21K | $5K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0157% / S −12.8912% | 1h | 2.6097 | +0.203% | $1K | — | 100x | as long as short |
MEXC MORPHO_USDT
Extended MORPHO-USD
Reya MORPHORUSDPERP
Injective MORPHO/USDC PERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Bybit MORPHOUSDT
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]