Funding you earn now, next payment 05:00 UTC−0.1383%/8h= −151.4% APRpaid last 24h −0.281%
Price spread now: Deribit against MEXC+0.050%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 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 pays, funding is against you. Deribit is 0.050% dearer against MEXC than usual: you sell high and buy low (spread +0.050% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$41 a day in funding at the current rate, which eats that in about 3 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | MEXC MORPHO_USDT | 2.6042 | 0.0100 | pay 0.0050% / 4h | 3h 49m | $5.9M | $820K | 100x |
| Short | Deribit MORPHO_USDC-PERPETUAL | 2.6055 | −0.1283 | pay 0.0160% / 1h | 49m 41s | $11K | $1K | 10x |
MEXC MORPHO_USDT
Deribit MORPHO_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against MEXC. 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
- −$290.4
- Price spread: +0.050% → 0.000%
- $4.99
- Slippage, 4 orders
- no order book: not counted
- Fee MEXC: 2 bp × 2 orders
- −$4
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$296.41
- Costs to cover
- 0.110%
- Break-even
- never at this rate
Slippage unknown: MEXC: live order book, 3 min ago; Deribit: 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 MEXC live order book, 3 min ago | 0.77 bp | 6.7 bp −$7 | 34.9 bp −$349 | 188.6 bp −$18.9K | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
Deribit: 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 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 | −0.2168% | 1h | 2.6043 | +0.002% | $81K | $126K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUALshort | −0.1283% | 1h | 2.6055 | +0.050% | $11K | $1K | 10x | |
| Bybit MORPHOUSDT | −0.1000% | 4h | 2.6040 | −0.008% | $8.1M | $8.5M | 25x | as long as short |
| 01 Exchange MORPHOUSD | −0.0800% | 1h | 2.5995 | −0.180% | $854 | $9K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0344% | 4h | 2.6136 | +0.362% | $34K | $140K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0216% | 1h | 2.6167 | +0.480% | $75K | $41K | 25x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0213% | 1h | 2.6062 | +0.077% | $25K | $1.5M | 5x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6067 | +0.096% | $635K | $241K | 20x | as long as short |
| Gate MORPHO_USDT | −0.0152% | 4h | 2.6093 | +0.196% | $764K | $469K | 50x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0138% | 4h | 2.6044 | +0.008% | $10K | $34K | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
Bybit MORPHOUSDT
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
Polymarket Perps MORPHO-USD
BloFin MORPHO-USDT
Gate MORPHO_USDT
Orderly PERP_MORPHO_USDCShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix MORPHO | −0.0061% | 1h | 2.6144 | +0.392% | $43K | $337K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.6043 | +0.004% | $16 | — | 10x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +1.490% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6091 | +0.190% | $313K | $293K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6024 | −0.068% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6098 | +0.215% | $6.0M | $6.8M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6092 | +0.190% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6018 | −0.092% | $15.7M | $24.2M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6060 | +0.069% | $3.2M | $4.0M | 20x | as long as short |
| MEXC MORPHO_USDTlong | +0.0100% | 4h | 2.6042 | long leg | $5.9M | $820K | 100x | |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6096 | +0.207% | $595K | $250K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6032 | −0.038% | $2.8M | $1.7M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6051 | +0.035% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6090 | +0.186% | $623K | $675K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6045 | +0.012% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6033 | −0.036% | $101K | $346K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6077 | +0.133% | $1K | — | 100x | as long as short |
Phoenix MORPHO
Reya MORPHORUSDPERP
Injective MORPHO/USDC PERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]