MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0431%/8h= +47.2% APRnext payment +$0.54 per $10,000 · paid last 24h +0.257%

Price spread now: Reya against Deribit−0.037%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Reya

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 airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.037% cheaper against Deribit than usual: you would sell low and buy high (spread −0.037% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 7 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	Deribit MORPHO_USDC-PERPETUAL	2.6239	−0.0436	get 0.0054% / 1h	21m 12s	$11K	$785	10x
Short	Reya MORPHORUSDPERP	2.6229	−0.0004	pay 0.0001% / 1h	21m 12s	$16	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Deribit. 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 DeribitbpFee ReyabpOrdersPrice spread, now −0.037%Rate

Funding earned: $90.52
Price spread: −0.037% → 0.000%: −$3.66
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Reya: 3 bp × 2 orders: −$6
Net: $73.86
Costs to cover: 0.130%
Break-even: 1.3 days

Slippage unknown: Deribit: no order-book sample; Reya: 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 Deribit no order-book sample	—	—	—	—	—
Sell Reya no order-book sample	—	—	—	—	—

Deribit and Reya: 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	−0.1913%	1h	2.6186	−0.203%	$80K	$128K	20x	as long as short
01 Exchange MORPHOUSD	−0.0456%	1h	2.6203	−0.137%	$861	$10K	5x	as long as short
Deribit MORPHO_USDC-PERPETUALlong	−0.0436%	1h	2.6239	long leg	$11K	$785	10x
Coinbase International MORPHO-PERP-INTX	−0.0232%	1h	2.6299	+0.229%	$75K	$42K	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0154%	4h	2.6234	−0.019%	$10K	$34K	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0111%	1h	2.6236	−0.011%	$28K	$1.8M	5x	as long as short
Reya MORPHORUSDPERPshort	−0.0004%	1h	2.6229	−0.037%	$16	—	10x
GRVT MORPHO_USDT_Perp	+0.0018%	4h	2.6269	+0.113%	$32K	$142K	10x	as long as short
Phoenix MORPHO	+0.0030%	1h	2.6252	+0.050%	$43K	$426K	5x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+0.728%	$37	$242K	5.5x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MORPHO_USDT	+0.0084%	4h	2.6262	+0.088%	$765K	$505K	50x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6265	+0.100%	$314K	$319K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6203	−0.139%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6280	+0.156%	$6.2M	$7.0M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6235	−0.016%	$57K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6225	−0.055%	$15.8M	$25.2M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6240	+0.004%	$8.3M	$9.3M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6232	−0.027%	$3.2M	$4.3M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6228	−0.042%	$5.5M	$888K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6265	+0.099%	$596K	$255K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6258	+0.072%	$2.9M	$1.7M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6233	−0.023%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6281	+0.159%	$626K	$912K	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6229	−0.038%	$22K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6236	−0.012%	$101K	$355K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0186% / S −15.6829%	1h	2.6233	−0.024%	$1K	—	100x	as long as short