MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.1435%/8h= +157.1% APRnext payment +$1.79 per $10,000 · paid last 24h +0.070%

Price spread now: Coinbase International against Kraken Futures+0.674%7-day average — · you sell dearer than you buy

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

Long on Kraken Futures Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.408%+$41 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$43 a day on $10k at the current rate, and Coinbase International is 0.674% dearer against Kraken Futures than usual: you sell high and buy low: +$67 more if the spread goes back to zero (this spread has no 7-day history yet).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.408% in total (about 21.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.79 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_MORPHOUSD	2.6118	−0.1659	get 0.0207% / 1h	24m 26s	$81K	$127K	20x
Short	Coinbase International MORPHO-PERP-INTX	2.6294	−0.0224	pay 0.0028% / 1h	24m 26s	$75K	$41K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 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 Kraken FuturesbpFee Coinbase InternationalbpOrdersPrice spread, now +0.674%Rate

Funding earned: $301.31
Price spread: +0.674% → 0.000%: $67.44
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $348.76
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: Kraken Futures: live order book, 33 min ago; Coinbase International: 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 Kraken Futures live order book, 33 min ago	15.69 bp	24.3 bp −$24	3717.3 bp −$37.2K	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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_MORPHOUSDlong	−0.1659%	1h	2.6118	long leg	$81K	$127K	20x
Deribit MORPHO_USDC-PERPETUAL	−0.1010%	1h	2.6158	+0.154%	$11K	$1K	10x	as long as short
01 Exchange MORPHOUSD	−0.0976%	1h	2.6082	−0.137%	$857	$9K	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0260%	4h	2.6158	+0.152%	$34K	$140K	10x	as long as short
Coinbase International MORPHO-PERP-INTXshort	−0.0224%	1h	2.6294	+0.674%	$75K	$41K	25x
BloFin MORPHO-USDT	−0.0200%	4h	2.6146	+0.108%	$636K	$242K	20x	as long as short
Polymarket Perps MORPHO-USD	−0.0181%	1h	2.6137	+0.073%	$25K	$1.6M	5x	as long as short
Orderly PERP_MORPHO_USDC	−0.0146%	4h	2.6107	−0.042%	$10K	$34K	10x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.6113	−0.019%	$16	—	10x	as long as short
Phoenix MORPHO	0.0000%	1h	2.6250	+0.506%	$43K	$370K	5x	as long as short

Show 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	+1.195%	$37	$242K	5.5x	as long as short
Gate MORPHO_USDT	+0.0036%	4h	2.6146	+0.108%	$766K	$483K	50x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6152	+0.131%	$314K	$309K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6122	+0.017%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6149	+0.119%	$6.1M	$6.9M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6131	+0.051%	$57K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6109	−0.032%	$15.8M	$24.9M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6130	+0.046%	$8.2M	$8.8M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6142	+0.092%	$3.2M	$4.2M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6114	−0.015%	$5.9M	$831K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6132	+0.054%	$596K	$252K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6096	−0.084%	$2.8M	$1.7M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6122	+0.016%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6125	+0.028%	$623K	$689K	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6152	+0.131%	$21K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6117	−0.004%	$100K	$348K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0186% / S −15.6829%	1h	2.6131	+0.051%	$1K	—	100x	as long as short