Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.002%

Price spread now: Bitget against MEXC+0.112%7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$540.543% of the position

Long on MEXC Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.016%+$2 on $10k

Price spread, last 7 days−0.115%−$11 · spread now +0.112%, 7d avg 0.000%

Together, before fees−0.099%−$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.113% dearer against MEXC than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC MORPHO_USDT	2.6668	0.0100	pay 0.0050% / 4h	3h 11m	$5.6M	$905K	100x
Short	Bitget MORPHOUSDT	2.6698	0.0100	get 0.0050% / 4h	3h 11m	$2.9M	$1.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against MEXC. 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 MEXCbpFee BitgetbpOrdersPrice spread, now +0.112%Rate

Funding earned: $0
Price spread: +0.112% → 0.000%: $11.29
Slippage, 4 orders: −$38.34
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$43.05
Costs to cover: 0.543%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; Bitget: live order book, 1 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 MEXC live order book, 1 min ago	0.38 bp	6.1 bp −$6	40.6 bp −$406	204.0 bp −$20.4K	doesn't fit
Sell Bitget live order book, 1 min ago	4.50 bp	24.1 bp −$24	77.6 bp −$776	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	−0.1823%	1h	2.6657	−0.042%	$81K	$125K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0612%	1h	2.6673	+0.019%	$11K	$785	10x	as long as short
01 Exchange MORPHOUSD	−0.0432%	1h	2.6663	−0.019%	$876	$13K	5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0280%	1h	2.6715	+0.176%	$77K	$43K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6720	+0.195%	$644K	$233K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0146%	4h	2.6671	+0.011%	$10K	$34K	10x	as long as short
Phoenix MORPHO	−0.0030%	1h	2.6758	+0.337%	$44K	$474K	5x	as long as short
Variational Omni MORPHO	−0.0029%	4h	2.6676	+0.028%	$636K	$926K	—	as long as short
Polymarket Perps MORPHO-USD	−0.0010%	1h	2.6676	+0.030%	$25K	$1.7M	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6673	+0.020%	$16	—	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MORPHO_USDT_Perp	+0.0028%	4h	2.6704	+0.136%	$41K	$133K	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	−0.892%	$37	$242K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6782	+0.429%	$320K	$325K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6662	−0.024%	$5K	$3	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6691	+0.087%	$58K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6669	+0.004%	$16.2M	$25.5M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6694	+0.097%	$8.6M	$9.0M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6690	+0.082%	$3.2M	$4.3M	20x	as long as short
Gate MORPHO_USDT	+0.0100%	4h	2.6689	+0.079%	$770K	$525K	50x	as long as short
MEXC MORPHO_USDTlong	+0.0100%	4h	2.6668	long leg	$5.6M	$905K	100x
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6700	+0.120%	$596K	$262K	50x	as long as short
Bitget MORPHOUSDTshort	+0.0100%	4h	2.6698	+0.112%	$2.9M	$1.8M	75x
BingX MORPHO-USDT	+0.0100%	4h	2.6680	+0.045%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6679	+0.041%	$22K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6664	−0.016%	$102K	$362K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0187% / S −0.4126%	1h	2.6681	+0.050%	$1K	—	100x	as long as short
Hyperliquid MORPHO	+0.0353%	1h	2.6737	+0.259%	$6.3M	$7.0M	5x	as long as short