Funding you earn now, next payment 08:00 UTC−0.1627%/8h= −178.2% APRpaid last 24h −0.214%
Price spread now: Deribit against BloFin−0.054%57s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$49 a day on $10k at the current rate, and Deribit is 0.054% cheaper against BloFin than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 57 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 | 2.5887 | −0.0128 | get 0.0064% / 4h | 39m 29s | $632K | $239K | 20x |
| Short | Deribit MORPHO_USDC-PERPETUAL | 2.5873 | −0.1756 | pay 0.0219% / 1h | 39m 29s | $11K | $3K | 10x |
BloFin MORPHO-USDT
Deribit MORPHO_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$341.75
- Price spread: −0.054% → 0.000%
- −$5.41
- Slippage, 4 orders
- no order book: not counted
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$366.16
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: BloFin: live order book, 42 min ago; Deribit: no order-book sample. Net counts fees only.
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, 42 min ago | 1.15 bp | 15.3 bp −$15 | 28.1 bp −$281 | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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-PERPETUALshort | −0.1756% | 1h | 2.5873 | −0.054% | $11K | $3K | 10x | |
| 01 Exchange MORPHOUSD | −0.1472% | 1h | 2.5761 | −0.487% | $847 | $9K | 5x | as long as short |
| Kraken Futures PF_MORPHOUSD | −0.1234% | 1h | 2.5839 | −0.184% | $84K | $133K | 20x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0612% | 4h | 2.5893 | +0.023% | $30K | $134K | 10x | as long as short |
| Bybit MORPHOUSDT | −0.0535% | 4h | 2.5869 | −0.070% | $7.9M | $8.7M | 25x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0496% | 1h | 2.5883 | −0.015% | $71K | $36K | 25x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0395% | 1h | 2.5871 | −0.062% | $24K | $1.4M | 5x | as long as short |
| Variational Omni MORPHO | −0.0281% | 4h | 2.5910 | +0.089% | $617K | $676K | — | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0185% | 4h | 2.5872 | −0.058% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0185% | 1h | 2.5911 | +0.093% | $33K | $336K | 5x | as long as short |
01 Exchange MORPHOUSD
Kraken Futures PF_MORPHOUSD
GRVT MORPHO_USDT_Perp
Bybit MORPHOUSDT
Coinbase International MORPHO-PERP-INTX
Polymarket Perps MORPHO-USD
Variational Omni MORPHO
Orderly PERP_MORPHO_USDC
Phoenix MORPHOShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BloFin MORPHO-USDTlong | −0.0128% | 4h | 2.5887 | long leg | $632K | $239K | 20x | |
| Gate MORPHO_USDT | −0.0082% | 4h | 2.5871 | −0.062% | $757K | $503K | 50x | as long as short |
| Binance MORPHOUSDT | −0.0043% | 4h | 2.5839 | −0.184% | $15.6M | $24.5M | 75x | as long as short |
| MEXC MORPHO_USDT | −0.0034% | 4h | 2.5849 | −0.147% | $6.3M | $903K | 100x | as long as short |
| Extended MORPHO-USD | −0.0032% | 1h | 2.5837 | −0.192% | $99K | $342K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.5860 | −0.103% | $16 | — | 10x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +2.098% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.5878 | −0.036% | $311K | $287K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5830 | −0.222% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.5891 | +0.015% | $5.9M | $7.0M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.5899 | +0.045% | $55K | $45K | 20x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.5872 | −0.058% | $3.2M | $4.2M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.5887 | 0.000% | $590K | $264K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5854 | −0.127% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5848 | −0.151% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.5868 | −0.073% | $21K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.5902 | +0.059% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Binance MORPHOUSDT
MEXC MORPHO_USDT
Extended MORPHO-USD
Reya MORPHORUSDPERP
Injective MORPHO/USDC PERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]