Funding you earn now, next payment 04:00 UTC−0.0381%/8h= −41.7% APRnext payment −$0.48 per $10,000 · paid last 24h +0.218%
Price spread now: Kraken Futures against Deribit−0.058%7-day average — · you buy dearer than you sell
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 against this trade now: funding costs −$11 a day on $10k at the current rate, and Kraken Futures is 0.058% cheaper against Deribit than usual: you would sell low and buy high (−$6 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 | Deribit MORPHO_USDC-PERPETUAL | 2.6093 | −0.1281 | get 0.0160% / 1h | 21m 06s | $11K | $1K | 10x |
| Short | Kraken Futures PF_MORPHOUSD | 2.6078 | −0.1661 | pay 0.0208% / 1h | 21m 06s | $81K | $127K | 20x |
Deribit MORPHO_USDC-PERPETUAL
Kraken Futures PF_MORPHOUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Deribit. 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
- −$79.96
- Price spread: −0.058% → 0.000%
- −$5.8
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$102.75
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Deribit: no order-book sample; Kraken Futures: live order book, 36 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 Deribit no order-book sample | — | — | — | — | — |
| Sell Kraken Futures live order book, 36 min ago | 15.69 bp | 75.3 bp −$75 | 168.4 bp −$1,684 | doesn't fit | doesn't fit |
Deribit: 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_MORPHOUSDshort | −0.1661% | 1h | 2.6078 | −0.058% | $81K | $127K | 20x | |
| Deribit MORPHO_USDC-PERPETUALlong | −0.1281% | 1h | 2.6093 | long leg | $11K | $1K | 10x | |
| 01 Exchange MORPHOUSD | −0.0968% | 1h | 2.6025 | −0.261% | $855 | $9K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0262% | 4h | 2.6107 | +0.054% | $34K | $140K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0224% | 1h | 2.6294 | +0.770% | $75K | $41K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6068 | −0.096% | $638K | $241K | 20x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0172% | 1h | 2.6107 | +0.054% | $25K | $1.6M | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0148% | 4h | 2.6089 | −0.015% | $10K | $34K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.6099 | +0.024% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | 0.0000% | 1h | 2.6164 | +0.272% | $43K | $370K | 5x | as long as short |
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Polymarket Perps MORPHO-USD
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 | +1.292% | $37 | $242K | 5.5x | as long as short |
| Gate MORPHO_USDT | +0.0038% | 4h | 2.6125 | +0.123% | $765K | $483K | 50x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6123 | +0.114% | $314K | $309K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6066 | −0.103% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6143 | +0.192% | $6.1M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6120 | +0.103% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6087 | −0.023% | $15.8M | $24.9M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6100 | +0.027% | $8.2M | $8.8M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6118 | +0.096% | $3.2M | $4.2M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6094 | +0.004% | $5.9M | $832K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6123 | +0.115% | $595K | $252K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6118 | +0.096% | $2.8M | $1.7M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6110 | +0.065% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6125 | +0.123% | $623K | $689K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6105 | +0.046% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6080 | −0.051% | $100K | $348K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6119 | +0.099% | $1K | — | 100x | as long as short |
Injective MORPHO/USDC PERP
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
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]