Funding you earn now, next payment 06:00 UTC−0.0101%/8h= −11.0% APRnext payment −$0.13 per $10,000 · paid last 24h −0.029%
Price spread now: Reya against Extended+0.046%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—+ Points / potential airdropExtended: Active · Reya: Active · farm boardneeds both histories
The price spread pays, funding is against you. Reya is 0.046% dearer against Extended than usual: you sell high and buy low (spread +0.046% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 36 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended MORPHO-USD | 2.5961 | 0.0096 | pay 0.0012% / 1h | 52m 27s | $99K | $343K | 10x |
| Short | Reya MORPHORUSDPERP | 2.5973 | −0.0005 | pay 0.0001% / 1h | 52m 27s | $16 | — | 10x |
Extended MORPHO-USD
Reya MORPHORUSDPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Reya against Extended. 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
- −$21.12
- Price spread: +0.046% → 0.000%
- $4.57
- Slippage, 4 orders
- no order book: not counted
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Reya: 3 bp × 2 orders
- −$6
- Net
- −$27.54
- Costs to cover
- 0.110%
- Break-even
- never at this rate
Slippage unknown: Extended: live order book, 60 min ago; 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 Extended live order book, 60 min ago | 2.68 bp | 22.2 bp −$22 | 231.8 bp −$2,318 | doesn't fit | doesn't fit |
| Sell Reya no order-book sample | — | — | — | — | — |
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 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 | −0.1557% | 1h | 2.5932 | −0.112% | $80K | $127K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1098% | 1h | 2.5930 | −0.120% | $11K | $2K | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0880% | 1h | 2.5933 | −0.108% | $852 | $9K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0460% | 4h | 2.5950 | −0.042% | $33K | $134K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0216% | 1h | 2.5945 | −0.062% | $74K | $41K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0192% | 4h | 2.5908 | −0.205% | $635K | $244K | 20x | as long as short |
| Phoenix MORPHO | −0.0154% | 1h | 2.5950 | −0.043% | $33K | $330K | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0130% | 4h | 2.5975 | +0.053% | $10K | $34K | 10x | as long as short |
| Reya MORPHORUSDPERPshort | −0.0005% | 1h | 2.5973 | +0.046% | $16 | — | 10x | |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +1.806% | $37 | $242K | 5.5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Phoenix MORPHO
Orderly PERP_MORPHO_USDC
Injective MORPHO/USDC PERPShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Polymarket Perps MORPHO-USD | +0.0077% | 1h | 2.5987 | +0.100% | $24K | $1.5M | 5x | as long as short |
| MEXC MORPHO_USDT | +0.0094% | 4h | 2.5965 | +0.015% | $6.0M | $824K | 100x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.5997 | +0.137% | $313K | $294K | 5x | as long as short |
| Extended MORPHO-USDlong | +0.0096% | 1h | 2.5961 | long leg | $99K | $343K | 10x | |
| Binance MORPHOUSDT | +0.0097% | 4h | 2.5975 | +0.052% | $15.7M | $24.0M | 75x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5989 | +0.106% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6019 | +0.223% | $6.0M | $6.8M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.5971 | +0.038% | $57K | $30K | 20x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.5990 | +0.111% | $8.0M | $8.5M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6004 | +0.165% | $3.2M | $4.0M | 20x | as long as short |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.5973 | +0.046% | $773K | $479K | 50x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.5992 | +0.119% | $597K | $246K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5972 | +0.042% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5981 | +0.077% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.5945 | −0.060% | $616K | $677K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.5922 | −0.151% | $21K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6006 | +0.171% | $1K | — | 100x | as long as short |
Polymarket Perps MORPHO-USD
MEXC MORPHO_USDT
Lighter MORPHO
Binance MORPHOUSDT
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
Gate MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]