Funding you earn now, next payment 04:00 UTC−0.0337%/8h= −36.9% APRnext payment −$1.69 per $10,000 · paid last 24h −0.090%
Price spread now: BloFin against KuCoin+0.458%425s7-day average −0.047% · you sell dearer than you buy
Net, funding: paid 7d − costs−$157as 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−$1941.938% of the position
Funding, last 7 days+0.373%+$37 on $10k
+Price spread, last 3 days (all we have)−0.458%−$46 · spread now +0.458%, 7d avg −0.047%
=The price spread pays, funding is against you. BloFin is 0.504% dearer against KuCoin than usual: you sell high and buy low (spread +0.458% now, against its 7-day average of −0.047%): +$50 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 5.0 days. Mind the row above: over the last 7 days funding on this pair paid +0.373%, so the current rate has only just turned against you. The two prices were read 425 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 | KuCoin MORPHOUSDTM | 2.6227 | 0.0100 | pay 0.0050% / 4h | 2h 42m | $592K | $255K | 50x |
| Short | BloFin MORPHO-USDT | 2.6347 | −0.0237 | pay 0.0119% / 4h | 2h 42m | $643K | $238K | 20x |
KuCoin MORPHOUSDTM
BloFin MORPHO-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against KuCoin. 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
- −$70.86
- Price spread: +0.458% → −0.047%
- $50.41
- Slippage, 4 orders
- −$169.82
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$214.27
- Costs to cover
- 1.938%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 71 min ago; BloFin: live order book, 24 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, 71 min ago | 8.87 bp | 62.5 bp −$62 | 172.0 bp −$1,720 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 24 min ago | 3.94 bp | 12.1 bp −$12 | 23.5 bp −$235 | 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 | −0.1908% | 1h | 2.6255 | +0.106% | $80K | $126K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0624% | 1h | 2.6280 | +0.202% | $11K | $785 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0576% | 1h | 2.6238 | +0.042% | $862 | $11K | 5x | as long as short |
| BloFin MORPHO-USDTshort | −0.0237% | 4h | 2.6347 | +0.458% | $643K | $238K | 20x | |
| Coinbase International MORPHO-PERP-INTX | −0.0232% | 1h | 2.6381 | +0.587% | $76K | $42K | 25x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0191% | 1h | 2.6279 | +0.198% | $34K | $1.8M | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0150% | 4h | 2.6264 | +0.141% | $10K | $34K | 10x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0084% | 4h | 2.6312 | +0.322% | $32K | $142K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6277 | +0.190% | $16 | — | 10x | as long as short |
| Gate MORPHO_USDT | +0.0028% | 4h | 2.6313 | +0.328% | $757K | $495K | 50x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Coinbase International MORPHO-PERP-INTX
Polymarket Perps MORPHO-USD
Orderly PERP_MORPHO_USDC
GRVT MORPHO_USDT_Perp
Reya MORPHORUSDPERP
Gate MORPHO_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix MORPHO | +0.0030% | 1h | 2.6363 | +0.519% | $43K | $426K | 5x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +0.774% | $37 | $242K | 5.5x | as long as short |
| Variational Omni MORPHO | +0.0082% | 4h | 2.6341 | +0.434% | $627K | $924K | — | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6414 | +0.711% | $316K | $319K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6266 | +0.149% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6334 | +0.408% | $6.2M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6285 | +0.221% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6265 | +0.145% | $15.9M | $25.1M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6230 | +0.011% | $8.3M | $9.3M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6236 | +0.034% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6246 | +0.072% | $5.5M | $879K | 100x | as long as short |
| KuCoin MORPHOUSDTMlong | +0.0100% | 4h | 2.6227 | long leg | $592K | $255K | 50x | |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6233 | +0.023% | $2.9M | $1.7M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6235 | +0.031% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6280 | +0.202% | $22K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6253 | +0.098% | $101K | $358K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −0.4126% | 1h | 2.6290 | +0.241% | $1K | — | 100x | as long as short |
Phoenix MORPHO
Injective MORPHO/USDC PERP
Variational Omni MORPHO
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]