Funding you earn now, next payment 00:00 UTC+0.0246%/8h= +27.0% APRnext payment +$1.23 per $10,000 · paid last 24h −0.078%
Price spread now: Gate against Bybit+0.064%7-day average −0.075% · you sell dearer than you buy
Net, funding: paid 7d − costs−$137as in the Funding arb table
Net, price: spread back to 7d avg − costs−$105as in the Price arb table
costs, in and out, $10k−$1191.191% of the position
Funding, last 7 days−0.177%−$18 on $10k
+Price spread, last 4 days (all we have)−0.204%−$20 · spread now +0.064%, 7d avg −0.075%
=Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Gate is 0.139% dearer against Bybit than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of −0.075%. Mind the row above: over the last 7 days funding on this pair cost −0.177%, 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 | Bybit MORPHOUSDT | 2.6549 | −0.0372 | get 0.0186% / 4h | 55m 49s | $8.5M | $9.2M | 25x |
| Short | Gate MORPHO_USDT | 2.6566 | −0.0126 | pay 0.0063% / 4h | 55m 49s | $772K | $531K | 50x |
Bybit MORPHOUSDT
Gate MORPHO_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate against Bybit. 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
- $51.71
- Price spread: +0.064% → −0.075%
- $13.85
- Slippage, 4 orders
- −$93.14
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$53.58
- Costs to cover
- 1.191%
- Break-even
- 14.3 days
Slippage from Bybit: live order book, 2 min ago; Gate: live order book, 21 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 Bybit live order book, 2 min ago | 1.88 bp | 19.4 bp −$19 | 64.8 bp −$648 | doesn't fit | doesn't fit |
| Sell Gate live order book, 21 min ago | 5.48 bp | 39.4 bp −$39 | doesn't fit | 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 | −0.1752% | 1h | 2.6545 | −0.016% | $82K | $148K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0803% | 1h | 2.6568 | +0.072% | $11K | $812 | 10x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0566% | 4h | 2.6430 | −0.449% | $29K | $134K | 10x | as long as short |
| Injective MORPHO/USDC PERP | −0.0405% | 1h | 2.6430 | −0.448% | $37 | $242K | 5.5x | as long as short |
| Bybit MORPHOUSDTlong | −0.0372% | 4h | 2.6549 | long leg | $8.5M | $9.2M | 25x | |
| 01 Exchange MORPHOUSD | −0.0368% | 1h | 2.6554 | +0.019% | $873 | $12K | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0360% | 1h | 2.6654 | +0.395% | $77K | $43K | 25x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0278% | 1h | 2.6576 | +0.102% | $26K | $1.7M | 5x | as long as short |
| BloFin MORPHO-USDT | −0.0223% | 4h | 2.6558 | +0.034% | $639K | $251K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0145% | 4h | 2.6558 | +0.034% | $10K | $34K | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
GRVT MORPHO_USDT_Perp
Injective MORPHO/USDC PERP
01 Exchange MORPHOUSD
Coinbase International MORPHO-PERP-INTX
Polymarket Perps MORPHO-USD
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDCShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDTshort | −0.0126% | 4h | 2.6566 | +0.064% | $772K | $531K | 50x | |
| Phoenix MORPHO | −0.0090% | 1h | 2.6642 | +0.350% | $44K | $477K | 5x | as long as short |
| Variational Omni MORPHO | −0.0088% | 4h | 2.6431 | −0.443% | $628K | $1.2M | — | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6563 | +0.053% | $16 | — | 10x | as long as short |
| Extended MORPHO-USD | +0.0016% | 1h | 2.6533 | −0.061% | $103K | $301K | 10x | as long as short |
| MEXC MORPHO_USDT | +0.0016% | 4h | 2.6541 | −0.030% | $5.4M | $939K | 100x | as long as short |
| Binance MORPHOUSDT | +0.0020% | 4h | 2.6533 | −0.060% | $16.1M | $25.8M | 75x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6606 | +0.217% | $317K | $331K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6533 | −0.060% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6604 | +0.207% | $6.3M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6563 | +0.051% | $58K | $31K | 20x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6532 | −0.064% | $3.2M | $4.4M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6575 | +0.098% | $595K | $271K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6569 | +0.075% | $2.9M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6549 | 0.000% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6560 | +0.041% | $22K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −0.3373% | 1h | 2.6591 | +0.157% | $1K | — | 100x | as long as short |
Phoenix MORPHO
Variational Omni MORPHO
Reya MORPHORUSDPERP
Extended MORPHO-USD
MEXC MORPHO_USDT
Binance MORPHOUSDT
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]