Funding you earn now, next payment 08:00 UTC+0.0300%/8h= +32.9% APRnext payment +$1.50 per $10,000 · paid last 24h +0.057%
Price spread now: Bybit against BloFin+0.131%7-day average +0.063% · you sell dearer than you buy
Net, funding: paid 7d − costs−$109as in the Funding arb table
Net, price: spread back to 7d avg − costs−$61as in the Price arb table
costs, in and out, $10k−$680.675% of the position
Funding, last 7 days−0.412%−$41 on $10k
+Price spread, last 4 days (all we have)+0.004%$0 · spread now +0.131%, 7d avg +0.063%
=Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Bybit is 0.068% dearer against BloFin than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.063%. Mind the row above: over the last 7 days funding on this pair cost −0.412%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BloFin MORPHO-USDT | 2.5892 | −0.0200 | get 0.0100% / 4h | 2h 17m | $630K | $239K | 20x |
| Short | Bybit MORPHOUSDT | 2.5926 | 0.0100 | get 0.0050% / 4h | 2h 17m | $8.0M | $8.5M | 25x |
BloFin MORPHO-USDT
Bybit MORPHOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- $63
- Price spread: +0.131% → +0.063%
- $6.84
- Slippage, 4 orders
- −$44.5
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $2.33
- Costs to cover
- 0.675%
- Break-even
- 6.7 days
Slippage from BloFin: live order book, 9 min ago; Bybit: live order book, 1 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, 9 min ago | 0.58 bp | 13.6 bp −$14 | 28.3 bp −$283 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 1 min ago | 1.93 bp | 19.2 bp −$19 | 73.0 bp −$730 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit MORPHO_USDC-PERPETUAL | −0.1561% | 1h | 2.5901 | +0.035% | $11K | $2K | 10x | as long as short |
| Kraken Futures PF_MORPHOUSD | −0.1558% | 1h | 2.5903 | +0.042% | $82K | $129K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.0816% | 1h | 2.5894 | +0.008% | $851 | $9K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0306% | 4h | 2.5912 | +0.078% | $33K | $134K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0216% | 1h | 2.5937 | +0.174% | $73K | $39K | 25x | as long as short |
| BloFin MORPHO-USDTlong | −0.0200% | 4h | 2.5892 | long leg | $630K | $239K | 20x | |
| Phoenix MORPHO | −0.0154% | 1h | 2.5945 | +0.205% | $33K | $330K | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0129% | 4h | 2.5919 | +0.104% | $10K | $34K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.5914 | +0.085% | $16 | — | 10x | as long as short |
| Polymarket Perps MORPHO-USD | +0.0016% | 1h | 2.5920 | +0.108% | $25K | $1.5M | 5x | as long as short |
Deribit MORPHO_USDC-PERPETUAL
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
Phoenix MORPHO
Orderly PERP_MORPHO_USDC
Reya MORPHORUSDPERP
Polymarket Perps MORPHO-USDShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +2.078% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.5945 | +0.206% | $312K | $295K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5944 | +0.201% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.5939 | +0.182% | $5.9M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.5913 | +0.081% | $57K | $31K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.5901 | +0.033% | $15.7M | $24.2M | 75x | as long as short |
| Bybit MORPHOUSDTshort | +0.0100% | 4h | 2.5926 | +0.131% | $8.0M | $8.5M | 25x | |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.5919 | +0.104% | $3.2M | $4.0M | 20x | as long as short |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.5917 | +0.097% | $757K | $497K | 50x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.5898 | +0.023% | $6.2M | $911K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.5935 | +0.166% | $597K | $247K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5917 | +0.097% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5919 | +0.104% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.5880 | −0.045% | $615K | $677K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.5897 | +0.019% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.5896 | +0.016% | $100K | $347K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0144% / S +0.0040% | 1h | 2.5933 | +0.158% | $6K | — | 100x | as long as short |
Injective MORPHO/USDC PERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
OKX MORPHO-USDT-SWAP
Gate MORPHO_USDT
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]