MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0261%/8h= −28.6% APRnext payment −$1.31 per $10,000 · paid last 24h −0.015%

Price spread now: Binance against KuCoin−0.035%7-day average −0.066% · you buy dearer than you sell

Net, funding: paid 7d − costs−$186as in the Funding arb table

Net, price: spread back to 7d avg − costs−$181as in the Price arb table

costs, in and out, $10k−$1841.843% of the position

Long on KuCoin Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.017%−$2 on $10k

Price spread, last 4 days (all we have)+0.267%+$27 · spread now −0.035%, 7d avg −0.066%

Together, before fees+0.250%+$25 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.031% dearer against KuCoin than usual: you sell high and buy low (spread −0.035% now, against its 7-day average of −0.066%): +$3 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 10 hours. At the pace of the last 7 days (−0.017% in total) that is about 13 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.017% in total (about -0.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.31 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	KuCoin MORPHOUSDTM	2.5873	0.0100	pay 0.0050% / 4h	3h 46m	$588K	$263K	50x
Short	Binance MORPHOUSDT	2.5864	−0.0161	pay 0.0081% / 4h	3h 46m	$15.5M	$23.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 KuCoinbpFee BinancebpOrdersPrice spread, now −0.035%Rate

Funding earned: −$54.84
Price spread: −0.035% → −0.066%: $3.13
Slippage, 4 orders: −$162.31
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$236.01
Costs to cover: 1.843%
Break-even: never at this rate

Slippage from KuCoin: live order book, 47 min ago; Binance: live order book, 9 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 KuCoin live order book, 47 min ago	10.65 bp	58.9 bp −$59	166.2 bp −$1,662	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	0.97 bp	16.4 bp −$16	37.7 bp −$377	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	−0.2461%	1h	2.5830	−0.165%	$84K	$134K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1063%	1h	2.5858	−0.058%	$11K	$3K	10x	as long as short
01 Exchange MORPHOUSD	−0.0840%	1h	2.5833	−0.155%	$849	$9K	5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0552%	1h	2.5689	−0.711%	$70K	$37K	25x	as long as short
Variational Omni MORPHO	−0.0439%	4h	2.5856	−0.067%	$615K	$526K	—	as long as short
BloFin MORPHO-USDT	−0.0403%	4h	2.5856	−0.066%	$630K	$239K	20x	as long as short
GRVT MORPHO_USDT_Perp	−0.0304%	4h	2.5838	−0.133%	$30K	$123K	10x	as long as short
Orderly PERP_MORPHO_USDC	−0.0286%	4h	2.5851	−0.085%	$10K	$34K	10x	as long as short
Aster MORPHOUSDT	−0.0216%	4h	2.5859	−0.054%	$54K	$49K	20x	as long as short
MEXC MORPHO_USDT	−0.0162%	4h	2.5868	−0.019%	$6.3M	$911K	100x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance MORPHOUSDTshort	−0.0161%	4h	2.5864	−0.035%	$15.5M	$23.9M	75x
Extended MORPHO-USD	−0.0160%	1h	2.5845	−0.108%	$99K	$375K	10x	as long as short
Phoenix MORPHO	−0.0155%	1h	2.5875	+0.008%	$33K	$308K	5x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.5862	−0.043%	$16	—	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+2.153%	$37	$242K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	2.5919	+0.177%	$312K	$283K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.5885	+0.047%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.5899	+0.100%	$6.0M	$7.0M	5x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.5869	−0.015%	$7.8M	$8.4M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.5894	+0.081%	$3.2M	$4.1M	20x	as long as short
Gate MORPHO_USDT	+0.0100%	4h	2.5864	−0.035%	$760K	$484K	50x	as long as short
KuCoin MORPHOUSDTMlong	+0.0100%	4h	2.5873	long leg	$588K	$263K	50x
Bitget MORPHOUSDT	+0.0100%	4h	2.5857	−0.062%	$2.8M	$1.6M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.5863	−0.039%	—	$1.4M	—	as long as short
Polymarket Perps MORPHO-USD	+0.0100%	1h	2.5885	+0.046%	$25K	$1.3M	5x	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.5856	−0.066%	$21K	$5K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0157% / S −12.8912%	1h	2.5882	+0.034%	$1K	—	100x	as long as short