Funding you earn now, next payment 04:00 UTC+0.0062%/8h= +6.8% APRnext payment +$0.31 per $10,000 · paid last 24h +0.077%
Price spread now: KuCoin against Gate+0.019%7-day average +0.060% · you sell dearer than you buy
Net, funding: paid 7d − costs−$236as in the Funding arb table
Net, price: spread back to 7d avg − costs−$262as in the Price arb table
costs, in and out, $10k−$2582.580% of the position
Funding, last 7 days+0.218%+$22 on $10k
+Price spread, last 4 days (all we have)−0.114%−$11 · spread now +0.019%, 7d avg +0.060%
=Funding pays, the price is against you. KuCoin is 0.041% cheaper against Gate than usual: you would sell low and buy high (spread +0.019% now, against its 7-day average of +0.060%). If the spread goes back, that is −$4 on $10k: about 2.2 days of funding at the current rate (+$2 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate MORPHO_USDT | 2.6203 | 0.0038 | pay 0.0019% / 4h | 1h 31m | $754K | $504K | 50x |
| Short | KuCoin MORPHOUSDTM | 2.6208 | 0.0100 | get 0.0050% / 4h | 1h 31m | $596K | $252K | 50x |
Gate MORPHO_USDT
KuCoin MORPHOUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- $13.02
- Price spread: +0.019% → +0.060%
- −$4.13
- Slippage, 4 orders
- −$230.99
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$249.11
- Costs to cover
- 2.580%
- Break-even
- 140.9 days
Slippage from Gate: live order book, 30 min ago; KuCoin: live order book, 67 min ago.
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, 30 min ago | 7.05 bp | 45.0 bp −$45 | doesn't fit | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 67 min ago | 10.32 bp | 104.5 bp −$105 | 186.2 bp −$1,862 | doesn't fit | doesn't fit |
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 | −0.1676% | 1h | 2.6152 | −0.193% | $81K | $128K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1200% | 1h | 2.6170 | −0.126% | $11K | $955 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0616% | 1h | 2.6172 | −0.118% | $860 | $9K | 5x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6187 | −0.061% | $636K | $242K | 20x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0192% | 1h | 2.6195 | −0.031% | $75K | $42K | 25x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0156% | 4h | 2.6167 | −0.137% | $10K | $34K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0137% | 1h | 2.6202 | −0.004% | $25K | $1.8M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0116% | 4h | 2.6195 | −0.031% | $32K | $142K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.6189 | −0.053% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | 0.0000% | 1h | 2.6172 | −0.118% | $43K | $392K | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
BloFin MORPHO-USDT
Coinbase International MORPHO-PERP-INTX
Orderly PERP_MORPHO_USDC
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
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 | +0.866% | $37 | $242K | 5.5x | as long as short |
| Gate MORPHO_USDTlong | +0.0038% | 4h | 2.6203 | long leg | $754K | $504K | 50x | |
| Lighter MORPHO | +0.0096% | 1h | 2.6203 | −0.001% | $314K | $308K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6194 | −0.035% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6233 | +0.114% | $6.2M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6192 | −0.042% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6206 | +0.011% | $15.8M | $25.7M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6227 | +0.092% | $8.3M | $9.5M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6220 | +0.065% | $3.2M | $4.4M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6171 | −0.122% | $5.8M | $840K | 100x | as long as short |
| KuCoin MORPHOUSDTMshort | +0.0100% | 4h | 2.6208 | +0.019% | $596K | $252K | 50x | |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6214 | +0.042% | $2.8M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6204 | +0.004% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6220 | +0.064% | $625K | $907K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6174 | −0.111% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6177 | −0.097% | $100K | $353K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6203 | +0.001% | $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
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]