Funding you earn now, next payment 05:00 UTC−0.0592%/8h= −64.8% APRnext payment −$0.74 per $10,000 · paid last 24h −0.218%
Price spread now: 01 Exchange against Coinbase International−0.189%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 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 against this trade now: funding costs −$18 a day on $10k at the current rate, and 01 Exchange is 0.189% cheaper against Coinbase International than usual: you would sell low and buy high (−$19 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International MORPHO-PERP-INTX | 2.5968 | −0.0216 | get 0.0027% / 1h | 15m 07s | $73K | $39K | 25x |
| Short | 01 Exchange MORPHOUSD | 2.5919 | −0.0808 | pay 0.0101% / 1h | 15m 07s | $852 | $9K | 5x |
Coinbase International MORPHO-PERP-INTX
01 Exchange MORPHOUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
01 Exchange 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
- −$124.32
- Price spread: −0.189% → 0.000%
- −$18.87
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee 01 Exchange: 3.5 bp × 2 orders
- −$7
- Net
- −$160.19
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Coinbase International: no order-book sample; 01 Exchange: 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 01 Exchange no order-book sample | — | — | — | — | — |
Coinbase International and 01 Exchange: 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit MORPHO_USDC-PERPETUAL | −0.1558% | 1h | 2.5954 | −0.054% | $11K | $2K | 10x | as long as short |
| Kraken Futures PF_MORPHOUSD | −0.1556% | 1h | 2.5940 | −0.107% | $82K | $130K | 20x | as long as short |
| 01 Exchange MORPHOUSDshort | −0.0808% | 1h | 2.5919 | −0.189% | $852 | $9K | 5x | |
| GRVT MORPHO_USDT_Perp | −0.0306% | 4h | 2.5912 | −0.215% | $33K | $134K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTXlong | −0.0216% | 1h | 2.5968 | long leg | $73K | $39K | 25x | |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.5949 | −0.073% | $631K | $239K | 20x | as long as short |
| Phoenix MORPHO | −0.0154% | 1h | 2.5945 | −0.089% | $33K | $330K | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0128% | 4h | 2.5967 | −0.004% | $10K | $34K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.5963 | −0.020% | $16 | — | 10x | as long as short |
| Polymarket Perps MORPHO-USD | +0.0003% | 1h | 2.5964 | −0.015% | $25K | $1.5M | 5x | as long as short |
Deribit MORPHO_USDC-PERPETUAL
Kraken Futures PF_MORPHOUSD
GRVT MORPHO_USDT_Perp
BloFin MORPHO-USDT
Phoenix MORPHO
Orderly PERP_MORPHO_USDC
Reya MORPHORUSDPERP
Polymarket Perps MORPHO-USDShow 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 | +1.779% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.5991 | +0.089% | $313K | $295K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5956 | −0.045% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6011 | +0.166% | $5.9M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.5971 | +0.013% | $57K | $31K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.5964 | −0.017% | $15.7M | $24.2M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.5965 | −0.012% | $8.0M | $8.5M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.5986 | +0.069% | $3.2M | $4.0M | 20x | as long as short |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.5943 | −0.096% | $758K | $499K | 50x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.5957 | −0.042% | $6.2M | $911K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.5978 | +0.039% | $598K | $247K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5977 | +0.035% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5978 | +0.039% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.5946 | −0.086% | $617K | $677K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.5949 | −0.073% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.5940 | −0.107% | $100K | $347K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0143% / S +0.0041% | 1h | 2.5986 | +0.070% | $6K | — | 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
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]