Funding you earn now, next payment 05:00 UTC−0.1542%/8h= −168.9% APRpaid last 24h −0.214%
Price spread now: Deribit against Gate−0.100%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 −$46 a day on $10k at the current rate, and Deribit is 0.100% cheaper against Gate than usual: you would sell low and buy high (−$10 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 | Gate MORPHO_USDT | 2.5981 | 0.0100 | pay 0.0050% / 4h | 3h 11m | $766K | $477K | 50x |
| Short | Deribit MORPHO_USDC-PERPETUAL | 2.5955 | −0.1442 | pay 0.0180% / 1h | 11m 11s | $11K | $2K | 10x |
Gate MORPHO_USDT
Deribit MORPHO_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Gate. 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
- −$323.9
- Price spread: −0.100% → 0.000%
- −$10.01
- Slippage, 4 orders
- no order book: not counted
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$355.91
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage unknown: Gate: live order book, 40 min ago; Deribit: 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 Gate live order book, 40 min ago | 5.37 bp | 43.4 bp −$43 | doesn't fit | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
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_MORPHOUSD | −0.2174% | 1h | 2.5966 | −0.059% | $81K | $124K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUALshort | −0.1442% | 1h | 2.5955 | −0.100% | $11K | $2K | 10x | |
| 01 Exchange MORPHOUSD | −0.0968% | 1h | 2.5916 | −0.250% | $852 | $9K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0514% | 4h | 2.5967 | −0.055% | $34K | $140K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0216% | 1h | 2.5993 | +0.046% | $74K | $41K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.5952 | −0.112% | $635K | $240K | 20x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0155% | 1h | 2.5985 | +0.015% | $24K | $1.5M | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0132% | 4h | 2.5966 | −0.058% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0061% | 1h | 2.6000 | +0.073% | $43K | $337K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.5960 | −0.081% | $16 | — | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Polymarket Perps MORPHO-USD
Orderly PERP_MORPHO_USDC
Phoenix MORPHO
Reya MORPHORUSDPERPShow 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 | +1.728% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.5996 | +0.057% | $312K | $293K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5975 | −0.023% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6010 | +0.112% | $6.0M | $6.8M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.5981 | 0.000% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.5945 | −0.139% | $15.7M | $23.9M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.5986 | +0.019% | $8.1M | $8.5M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.5970 | −0.042% | $3.2M | $4.0M | 20x | as long as short |
| Gate MORPHO_USDTlong | +0.0100% | 4h | 2.5981 | long leg | $766K | $477K | 50x | |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.5951 | −0.115% | $6.0M | $840K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.5988 | +0.027% | $597K | $248K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5974 | −0.027% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5973 | −0.031% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.5980 | −0.002% | $619K | $675K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.5954 | −0.104% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.5954 | −0.106% | $100K | $346K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.5991 | +0.038% | $1K | — | 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
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]