Funding you earn now, next payment 03:00 UTC+0.1515%/8h= +165.9% APRpaid last 24h −0.082%
Price spread now: Orderly against Kraken Futures+0.006%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 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
The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$45 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_MORPHOUSD | 2.6292 | −0.1667 | get 0.0208% / 1h | 59m 08s | $82K | $130K | 20x |
| Short | Orderly PERP_MORPHO_USDC | 2.6294 | −0.0152 | pay 0.0076% / 4h | 1h 59m | $10K | $34K | 10x |
Kraken Futures PF_MORPHOUSD
Orderly PERP_MORPHO_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- $318.12
- Price spread: +0.006% → 0.000%
- $0.63
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- $302.76
- Costs to cover
- 0.160%
- Break-even
- 0.3 days
Slippage unknown: Kraken Futures: live order book, 3 min ago; Orderly: 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, 3 min ago | 17.33 bp | 29.9 bp −$30 | 3538.3 bp −$35.4K | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 26 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 | −0.1667% | 1h | 2.6292 | long leg | $82K | $130K | 20x | |
| Deribit MORPHO_USDC-PERPETUAL | −0.0852% | 1h | 2.6296 | +0.014% | $11K | $955 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0568% | 1h | 2.6265 | −0.104% | $863 | $8K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0227% | 1h | 2.6304 | +0.044% | $25K | $1.8M | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0192% | 1h | 2.6318 | +0.098% | $75K | $42K | 25x | as long as short |
| Orderly PERP_MORPHO_USDCshort | −0.0152% | 4h | 2.6294 | +0.006% | $10K | $34K | 10x | |
| GRVT MORPHO_USDT_Perp | −0.0092% | 4h | 2.6213 | −0.302% | $32K | $142K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6291 | −0.004% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | +0.0030% | 1h | 2.6283 | −0.035% | $43K | $369K | 5x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +0.524% | $37 | $242K | 5.5x | as long as short |
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
Coinbase International MORPHO-PERP-INTX
GRVT MORPHO_USDT_Perp
Reya MORPHORUSDPERP
Phoenix MORPHO
Injective MORPHO/USDC PERPShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | +0.0058% | 4h | 2.6308 | +0.060% | $759K | $503K | 50x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6334 | +0.160% | $316K | $308K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6308 | +0.060% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6377 | +0.322% | $6.2M | $7.0M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6315 | +0.085% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6296 | +0.014% | $15.9M | $25.7M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6320 | +0.105% | $8.4M | $9.4M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6328 | +0.136% | $3.2M | $4.4M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6295 | +0.010% | $5.8M | $829K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6323 | +0.117% | $599K | $254K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6302 | +0.037% | $2.8M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6320 | +0.105% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6270 | −0.083% | $626K | $909K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6288 | −0.016% | $22K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6296 | +0.014% | $101K | $351K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6316 | +0.090% | $1K | — | 100x | as long as short |
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]