Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 19:00 UTC+0.0428%/8hpaid last 24h −0.092%

Price spread now: Paradex against Coinbase International−0.179%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on Paradex

What this pair did over the last

the charts below follow

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—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.179% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.179% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$18 on $10k: about 33 hours of funding at the current rate (+$13 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MORPHO-PERP-INTX	2.6815	−0.0328	get 0.0041% / 1h	6m 50s	$77K	$46K	25x
Short	Paradex MORPHO-USD-PERP	2.6767	0.0100	get 0.0100% / 8h	4h 06m	$5K	$3	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 it

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 Coinbase InternationalbpFee ParadexbpOrdersPrice spread, now −0.179%Rate

Funding earned: $89.87
Price spread: −0.179% → 0.000%: −$17.91
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: $57.96
Costs to cover: 0.140%
Break-even: 2.5 days

Slippage unknown: Coinbase International: no order-book sample; Paradex: 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

Coinbase International and Paradex: 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	−0.1669%	1h	2.6744	−0.266%	$84K	$151K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0944%	1h	2.6772	−0.160%	$10K	$721	10x	as long as short
01 Exchange MORPHOUSD	−0.0584%	1h	2.6740	−0.280%	$879	$12K	5x	as long as short
Coinbase International MORPHO-PERP-INTXlong	−0.0328%	1h	2.6815	long leg	$77K	$46K	25x
Polymarket Perps MORPHO-USD	−0.0281%	1h	2.6781	−0.127%	$28K	$2.0M	5x	as long as short
Orderly PERP_MORPHO_USDC	−0.0212%	4h	2.6761	−0.201%	$10K	$34K	10x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6745	−0.261%	$657K	$209K	20x	as long as short
Gate MORPHO_USDT	−0.0160%	4h	2.6781	−0.127%	$772K	$533K	50x	as long as short
Injective MORPHO/USDC PERP	−0.0114%	1h	2.6810	−0.019%	$38	$76K	5.5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0084%	4h	2.6785	−0.112%	$41K	$150K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya MORPHORUSDPERP	−0.0004%	1h	2.6794	−0.080%	$16	—	10x	as long as short
Phoenix MORPHO	+0.0030%	1h	2.6803	−0.045%	$34K	$473K	5x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6828	+0.050%	$319K	$356K	5x	as long as short
Paradex MORPHO-USD-PERPshort	+0.0100%	8h	2.6767	−0.179%	$5K	$3	5x
Aster MORPHOUSDT	+0.0100%	4h	2.6769	−0.173%	$58K	$32K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6756	−0.220%	$16.4M	$26.7M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6791	−0.090%	$8.8M	$10.2M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6790	−0.093%	$3.2M	$4.6M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6759	−0.209%	$5.1M	$1.2M	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6786	−0.108%	$602K	$276K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6782	−0.123%	$2.9M	$2.0M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6778	−0.138%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6805	−0.038%	$650K	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6775	−0.149%	$22K	$2K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6758	−0.212%	$101K	$303K	10x	as long as short
Hyperliquid MORPHO	+0.0109%	1h	2.6827	+0.045%	$6.4M	$7.1M	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0193% / S −16.5420%	1h	2.6793	−0.081%	$1K	—	100x	as long as short