Funding you earn now, next payment 04:00 UTC+0.0573%/8h= +62.7% APRnext payment +$0.72 per $10,000 · paid last 24h −0.218%
Price spread now: Deribit against Kraken Futures+0.120%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—needs both histories
Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Deribit is 0.120% dearer against Kraken Futures than usual: you sell high and buy low: +$12 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_MORPHOUSD | 2.6070 | −0.1662 | get 0.0208% / 1h | 24m 03s | $81K | $127K | 20x |
| Short | Deribit MORPHO_USDC-PERPETUAL | 2.6101 | −0.1089 | pay 0.0136% / 1h | 24m 03s | $11K | $1K | 10x |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- $120.27
- Price spread: +0.120% → 0.000%
- $11.96
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $115.23
- Costs to cover
- 0.170%
- Break-even
- 0.3 days
Slippage unknown: Kraken Futures: live order book, 33 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 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 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_MORPHOUSDlong | −0.1662% | 1h | 2.6070 | long leg | $81K | $127K | 20x | |
| Deribit MORPHO_USDC-PERPETUALshort | −0.1089% | 1h | 2.6101 | +0.120% | $11K | $1K | 10x | |
| 01 Exchange MORPHOUSD | −0.0976% | 1h | 2.6082 | +0.047% | $857 | $9K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0260% | 4h | 2.6158 | +0.336% | $34K | $140K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0224% | 1h | 2.6294 | +0.860% | $75K | $41K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6146 | +0.292% | $636K | $242K | 20x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0181% | 1h | 2.6137 | +0.258% | $25K | $1.6M | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0146% | 4h | 2.6107 | +0.143% | $10K | $34K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.6113 | +0.165% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | 0.0000% | 1h | 2.6250 | +0.691% | $43K | $370K | 5x | as long as short |
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Polymarket Perps MORPHO-USD
Orderly PERP_MORPHO_USDC
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 | +1.382% | $37 | $242K | 5.5x | as long as short |
| Gate MORPHO_USDT | +0.0036% | 4h | 2.6146 | +0.292% | $766K | $483K | 50x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6141 | +0.273% | $314K | $309K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6122 | +0.201% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6146 | +0.292% | $6.1M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6142 | +0.277% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6101 | +0.119% | $15.8M | $24.9M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6124 | +0.208% | $8.2M | $8.8M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6125 | +0.212% | $3.2M | $4.2M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6108 | +0.146% | $5.9M | $831K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6129 | +0.227% | $596K | $252K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6075 | +0.020% | $2.8M | $1.7M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6122 | +0.200% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6125 | +0.212% | $623K | $689K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6107 | +0.143% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6102 | +0.125% | $100K | $348K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6131 | +0.236% | $1K | — | 100x | as long as short |
Injective MORPHO/USDC PERP
Gate MORPHO_USDT
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]