Funding you earn now, next payment 11:00 UTC+0.0295%/8h= +32.3% APRpaid last 24h +0.258%
Price spread now: BloFin against Kraken Futures−0.071%57s7-day average −0.028% · you buy dearer than you sell
Net, funding: paid 7d − costs−$42as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1031.029% of the position
Funding, last 7 days+0.613%+$61 on $10k
+Price spread, last 4 days (all we have)−0.083%−$8 · spread now −0.071%, 7d avg −0.028%
=Funding pays, the price is against you. BloFin is 0.044% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.071% now, against its 7-day average of −0.028%). If the spread goes back, that is −$4 on $10k: about 12 hours of funding at the current rate (+$9 a day). The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_MORPHOUSD | 2.5602 | −0.0495 | get 0.0062% / 1h | 8m 17s | $83K | $139K | 20x |
| Short | BloFin MORPHO-USDT | 2.5584 | −0.0200 | pay 0.0100% / 4h | 1h 08m | $628K | $227K | 20x |
Kraken Futures PF_MORPHOUSD
BloFin MORPHO-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Kraken Futures. 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
- $61.99
- Price spread: −0.071% → −0.028%
- −$4.35
- Slippage, 4 orders
- −$80.9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$45.26
- Costs to cover
- 1.029%
- Break-even
- 12.1 days
Slippage from Kraken Futures: live order book, 37 min ago; BloFin: live order book, 36 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 Kraken Futures live order book, 37 min ago | 10.57 bp | 26.4 bp −$26 | 4493.3 bp −$44.9K | doesn't fit | doesn't fit |
| Sell BloFin live order book, 36 min ago | 0.96 bp | 15.1 bp −$15 | 27.6 bp −$276 | doesn't fit | doesn't fit |
MORPHO on 27 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International MORPHO-PERP-INTX | −0.1248% | 1h | 2.5371 | −0.903% | $52K | $54K | 25x | as long as short |
| 01 Exchange MORPHOUSD | −0.0656% | 1h | 2.5574 | −0.110% | $22K | $30K | 5x | as long as short |
| Kraken Futures PF_MORPHOUSDlong | −0.0495% | 1h | 2.5602 | long leg | $83K | $139K | 20x | |
| Deribit MORPHO_USDC-PERPETUAL | −0.0453% | 1h | 2.5593 | −0.036% | $10K | $3K | 10x | as long as short |
| Bybit MORPHOUSDT | −0.0267% | 4h | 2.5600 | −0.009% | $7.7M | $7.4M | 25x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0263% | 4h | 2.5594 | −0.032% | $10K | $33K | 10x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0252% | 4h | 2.5581 | −0.084% | $30K | $122K | 10x | as long as short |
| BloFin MORPHO-USDTshort | −0.0200% | 4h | 2.5584 | −0.071% | $628K | $227K | 20x | |
| Variational Omni MORPHO | −0.0116% | 4h | 2.5578 | −0.093% | $609K | $202K | — | as long as short |
| Phoenix MORPHO | −0.0031% | 1h | 2.5673 | +0.276% | $33K | $287K | 5x | as long as short |
Coinbase International MORPHO-PERP-INTX
01 Exchange MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
Bybit MORPHOUSDT
Orderly PERP_MORPHO_USDC
GRVT MORPHO_USDT_Perp
Variational Omni MORPHO
Phoenix MORPHOShow all 27 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.5587 | −0.060% | $15 | — | 10x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +3.233% | $37 | $242K | 5.5x | as long as short |
| Polymarket Perps MORPHO-USD | +0.0055% | 1h | 2.5608 | +0.023% | $22K | $1.1M | 5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.5694 | +0.360% | $308K | $246K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5584 | −0.072% | $5K | $200 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.5628 | +0.101% | $5.9M | $5.5M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.5623 | +0.081% | $56K | $51K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.5590 | −0.048% | $15.2M | $22.5M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.5616 | +0.054% | $3.1M | $4.2M | 20x | as long as short |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.5608 | +0.023% | $752K | $461K | 50x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.5594 | −0.032% | $6.4M | $977K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.5598 | −0.017% | $590K | $253K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5588 | −0.056% | $2.7M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5596 | −0.024% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.5593 | −0.036% | $21K | $5K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.5590 | −0.047% | $105K | $416K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0207% / S −23.1607% | 1h | 2.5606 | +0.015% | $2K | — | 100x | as long as short |
Reya MORPHORUSDPERP
Injective MORPHO/USDC PERP
Polymarket Perps MORPHO-USD
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
OKX MORPHO-USDT-SWAP
Gate MORPHO_USDT
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]