Funding you earn now, next payment 04:00 UTC+0.0320%/8h= +35.0% APRnext payment +$0.40 per $10,000 · paid last 24h −0.018%
Price spread now: Extended against Coinbase International−0.163%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.179%−$18 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Funding pays, the price is against you. Extended is 0.163% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.163% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$16 on $10k: about 41 hours of funding at the current rate (+$10 a day). Mind the row above: over the last 7 days funding on this pair cost −0.179%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.179% in total (about -9.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.40 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 | Coinbase International MORPHO-PERP-INTX | 2.6082 | −0.0216 | get 0.0027% / 1h | 57m 35s | $75K | $41K | 25x |
| Short | Extended MORPHO-USD | 2.6040 | 0.0104 | get 0.0013% / 1h | 57m 35s | $101K | $352K | 10x |
Coinbase International MORPHO-PERP-INTX
Extended MORPHO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended against Coinbase International. 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
- $67.2
- Price spread: −0.163% → 0.000%
- −$16.26
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- $35.94
- Costs to cover
- 0.150%
- Break-even
- 3.3 days
Slippage unknown: Coinbase International: no order-book sample; Extended: live order book, 60 min ago. 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 Coinbase International no order-book sample | — | — | — | — | — |
| Sell Extended live order book, 60 min ago | 1.92 bp | 21.2 bp −$21 | 252.4 bp −$2,524 | doesn't fit | doesn't fit |
Coinbase International: 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_MORPHOUSD | −0.2169% | 1h | 2.6030 | −0.200% | $81K | $126K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.1064% | 1h | 2.5991 | −0.349% | $854 | $9K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0986% | 4h | 2.6025 | −0.220% | $34K | $140K | 10x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0938% | 1h | 2.6054 | −0.107% | $11K | $1K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0299% | 1h | 2.6059 | −0.088% | $25K | $1.6M | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTXlong | −0.0216% | 1h | 2.6082 | long leg | $75K | $41K | 25x | |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6020 | −0.238% | $636K | $241K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0140% | 4h | 2.6050 | −0.123% | $10K | $34K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.6041 | −0.157% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | 0.0000% | 1h | 2.6074 | −0.031% | $43K | $337K | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Deribit MORPHO_USDC-PERPETUAL
Polymarket Perps MORPHO-USD
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDC
Reya MORPHORUSDPERP
Phoenix MORPHOShow 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 | +1.334% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6099 | +0.066% | $313K | $293K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6044 | −0.145% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6098 | +0.061% | $6.0M | $6.8M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6092 | +0.038% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6042 | −0.155% | $15.8M | $24.4M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6055 | −0.104% | $8.1M | $8.6M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6064 | −0.069% | $3.2M | $4.1M | 20x | as long as short |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.6063 | −0.073% | $763K | $469K | 50x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6045 | −0.142% | $5.9M | $819K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6090 | +0.031% | $595K | $251K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6050 | −0.123% | $2.8M | $1.7M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6065 | −0.065% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6060 | −0.083% | $621K | $675K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6047 | −0.134% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USDshort | +0.0104% | 1h | 2.6040 | −0.163% | $101K | $352K | 10x | |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6071 | −0.042% | $1K | — | 100x | as long as short |
Injective MORPHO/USDC PERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
Gate MORPHO_USDT
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]