Funding you earn now, next payment 01:00 UTC+0.0332%/8h= +36.4% APRnext payment +$0.41 per $10,000 · paid last 24h −0.029%
Price spread now: SoDEX against Coinbase International+0.149%7-day average — · you sell dearer than you buy
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 for this trade now. Funding pays +$10 a day on $10k at the current rate, and SoDEX is 0.149% dearer against Coinbase International than usual: you sell high and buy low: +$15 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International MORPHO-PERP-INTX | 2.6145 | −0.0232 | get 0.0029% / 1h | 4m 35s | $75K | $42K | 25x |
| Short | SoDEX MORPHO-USD | 2.6184 | 0.0100 | get 0.0013% / 1h | 4m 35s | $21K | $4K | 5x |
Coinbase International MORPHO-PERP-INTX
SoDEX MORPHO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
SoDEX 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
- $69.72
- Price spread: +0.149% → 0.000%
- $14.92
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Net
- $66.64
- Costs to cover
- 0.180%
- Break-even
- 0.3 days
Slippage unknown: Coinbase International: no order-book sample; SoDEX: 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 SoDEX no order-book sample | — | — | — | — | — |
Coinbase International and SoDEX: 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 26 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 | −0.1914% | 1h | 2.6181 | +0.137% | $81K | $130K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1047% | 1h | 2.6189 | +0.168% | $11K | $955 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0480% | 1h | 2.6194 | +0.187% | $861 | $9K | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTXlong | −0.0232% | 1h | 2.6145 | long leg | $75K | $42K | 25x | |
| Polymarket Perps MORPHO-USD | −0.0158% | 1h | 2.6198 | +0.203% | $25K | $1.8M | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0158% | 4h | 2.6196 | +0.195% | $10K | $34K | 10x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0036% | 4h | 2.6050 | −0.362% | $32K | $142K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6194 | +0.187% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | +0.0030% | 1h | 2.6209 | +0.245% | $43K | $426K | 5x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +1.090% | $37 | $242K | 5.5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
Orderly PERP_MORPHO_USDC
GRVT MORPHO_USDT_Perp
Reya MORPHORUSDPERP
Phoenix MORPHO
Injective MORPHO/USDC PERPShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | +0.0050% | 4h | 2.6196 | +0.195% | $760K | $519K | 50x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6236 | +0.350% | $315K | $322K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6218 | +0.280% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6269 | +0.474% | $6.2M | $7.0M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6193 | +0.185% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6217 | +0.275% | $15.8M | $25.8M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6230 | +0.325% | $8.2M | $9.4M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6244 | +0.379% | $3.2M | $4.4M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6204 | +0.226% | $5.7M | $974K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6205 | +0.229% | $595K | $255K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6219 | +0.283% | $2.8M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6226 | +0.310% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6190 | +0.174% | $625K | $912K | — | as long as short |
| SoDEX MORPHO-USDshort | +0.0100% | 1h | 2.6184 | +0.149% | $21K | $4K | 5x | |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6211 | +0.252% | $101K | $351K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6226 | +0.309% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]