MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0241%/8h= −26.4% APRnext payment −$1.21 per $10,000 · paid last 24h −0.088%

Price spread now: BloFin against MEXC+0.109%64s7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$8as 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−$440.440% of the position

Long on MEXC Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.360%+$36 on $10k

Price spread, last 4 days (all we have)−0.176%−$18 · spread now +0.109%, 7d avg +0.002%

Together, before fees+0.184%+$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.107% dearer against MEXC than usual: you sell high and buy low (spread +0.109% now, against its 7-day average of +0.002%): +$11 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 35 hours. Mind the row above: over the last 7 days funding on this pair paid +0.360%, so the current rate has only just turned against you. The two prices were read 64 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	MEXC MORPHO_USDT	2.5701	−0.0134	get 0.0067% / 4h	22m 15s	$6.2M	$907K	100x
Short	BloFin MORPHO-USDT	2.5729	−0.0375	pay 0.0188% / 4h	22m 15s	$632K	$238K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.109%Rate

Funding earned: −$50.7
Price spread: +0.109% → +0.002%: $10.67
Slippage, 4 orders: −$28.03
Fee MEXC: 2 bp × 2 orders: −$4
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$84.05
Costs to cover: 0.440%
Break-even: never at this rate

Slippage from MEXC: live order book, just now; BloFin: live order book, 59 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, just now	1.17 bp	6.3 bp −$6	38.2 bp −$382	192.1 bp −$19.2K	doesn't fit
Sell BloFin live order book, 59 min ago	1.15 bp	17.0 bp −$17	28.7 bp −$287	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
01 Exchange MORPHOUSD	−0.1504%	1h	2.5617	−0.327%	$842	$9K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1381%	1h	2.5708	+0.027%	$10K	$3K	10x	as long as short
Kraken Futures PF_MORPHOUSD	−0.1242%	1h	2.5679	−0.084%	$84K	$133K	20x	as long as short
GRVT MORPHO_USDT_Perp	−0.0694%	4h	2.5708	+0.029%	$30K	$134K	10x	as long as short
Bybit MORPHOUSDT	−0.0585%	4h	2.5731	+0.117%	$7.8M	$8.4M	25x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0496%	1h	2.5716	+0.058%	$70K	$37K	25x	as long as short
Polymarket Perps MORPHO-USD	−0.0425%	1h	2.5716	+0.058%	$26K	$1.4M	5x	as long as short
Variational Omni MORPHO	−0.0390%	4h	2.5750	+0.192%	$614K	$526K	—	as long as short
BloFin MORPHO-USDTshort	−0.0375%	4h	2.5729	+0.109%	$632K	$238K	20x
Orderly PERP_MORPHO_USDC	−0.0227%	4h	2.5703	+0.008%	$10K	$34K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix MORPHO	−0.0185%	1h	2.5742	+0.160%	$33K	$336K	5x	as long as short
Gate MORPHO_USDT	−0.0164%	4h	2.5738	+0.144%	$754K	$503K	50x	as long as short
Extended MORPHO-USD	−0.0144%	1h	2.5695	−0.022%	$99K	$375K	10x	as long as short
Binance MORPHOUSDT	−0.0141%	4h	2.5698	−0.012%	$15.5M	$24.1M	75x	as long as short
MEXC MORPHO_USDTlong	−0.0134%	4h	2.5701	long leg	$6.2M	$907K	100x
Aster MORPHOUSDT	−0.0029%	4h	2.5720	+0.074%	$54K	$48K	20x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.5706	+0.019%	$15	—	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+2.836%	$37	$242K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	2.5746	+0.176%	$310K	$288K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.5690	−0.043%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.5754	+0.206%	$5.9M	$7.0M	5x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.5719	+0.070%	$3.2M	$4.1M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.5731	+0.117%	$586K	$264K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.5715	+0.054%	$2.8M	$1.6M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.5720	+0.074%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.5700	−0.004%	$22K	$5K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0156% / S −12.8912%	1h	2.5731	+0.118%	$1K	—	100x	as long as short