MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0262%/8h= −28.7% APRnext payment −$1.31 per $10,000 · paid last 24h +0.051%

Price spread now: MEXC against Bybit−0.054%7-day average −0.089% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$520.522% of the position

Long on Bybit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.073%+$7 on $10k

Price spread, last 7 days−0.045%−$5 · spread now −0.054%, 7d avg −0.089%

Together, before fees+0.028%+$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.035% dearer against Bybit than usual: you sell high and buy low (spread −0.054% now, against its 7-day average of −0.089%): +$4 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 11 hours. Mind the row above: over the last 7 days funding on this pair paid +0.073%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.073% in total (about 3.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.31 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MORPHOUSDT	2.5860	0.0100	pay 0.0050% / 4h	3h 48m	$7.8M	$8.4M	25x
Short	MEXC MORPHO_USDT	2.5846	−0.0162	pay 0.0081% / 4h	3h 48m	$6.3M	$911K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BybitbpFee MEXCbpOrdersPrice spread, now −0.054%Rate

Funding earned: −$55.02
Price spread: −0.054% → −0.089%: $3.51
Slippage, 4 orders: −$37.22
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$103.73
Costs to cover: 0.522%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; MEXC: live order book, 4 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, 4 min ago	1.94 bp	18.0 bp −$18	73.4 bp −$734	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	1.16 bp	7.0 bp −$7	41.7 bp −$417	186.2 bp −$18.6K	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	−0.2463%	1h	2.5809	−0.196%	$84K	$134K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1295%	1h	2.5845	−0.058%	$11K	$3K	10x	as long as short
01 Exchange MORPHOUSD	−0.0856%	1h	2.5828	−0.124%	$849	$9K	5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0552%	1h	2.5689	−0.661%	$70K	$37K	25x	as long as short
Variational Omni MORPHO	−0.0439%	4h	2.5856	−0.016%	$615K	$526K	—	as long as short
BloFin MORPHO-USDT	−0.0404%	4h	2.5841	−0.073%	$630K	$239K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0283%	4h	2.5836	−0.093%	$10K	$34K	10x	as long as short
Aster MORPHOUSDT	−0.0213%	4h	2.5840	−0.076%	$54K	$49K	20x	as long as short
GRVT MORPHO_USDT_Perp	−0.0206%	4h	2.5780	−0.309%	$30K	$123K	10x	as long as short
Binance MORPHOUSDT	−0.0163%	4h	2.5848	−0.046%	$15.5M	$23.9M	75x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC MORPHO_USDTshort	−0.0162%	4h	2.5846	−0.054%	$6.3M	$911K	100x
Extended MORPHO-USD	−0.0160%	1h	2.5839	−0.083%	$99K	$375K	10x	as long as short
Phoenix MORPHO	−0.0155%	1h	2.5835	−0.097%	$33K	$308K	5x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.5855	−0.019%	$16	—	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+2.204%	$37	$242K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	2.5899	+0.152%	$312K	$283K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.5846	−0.054%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.5895	+0.135%	$6.0M	$7.0M	5x	as long as short
Bybit MORPHOUSDTlong	+0.0100%	4h	2.5860	long leg	$7.8M	$8.4M	25x
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.5873	+0.050%	$3.2M	$4.1M	20x	as long as short
Gate MORPHO_USDT	+0.0100%	4h	2.5844	−0.062%	$760K	$484K	50x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.5862	+0.008%	$588K	$264K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.5849	−0.043%	$2.8M	$1.6M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.5849	−0.043%	—	$1.4M	—	as long as short
Polymarket Perps MORPHO-USD	+0.0100%	1h	2.5885	+0.097%	$25K	$1.4M	5x	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.5843	−0.066%	$21K	$5K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0156% / S −12.8912%	1h	2.5873	+0.049%	$1K	—	100x	as long as short