Funding you earn now, next payment 00:00 UTC−0.0081%/8h= −8.9% APRpaid last 24h 0.000%
Price spread now: Binance against Paradex−0.063%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Binance is 0.063% cheaper against Paradex than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Paradex MORPHO-USD-PERP | 2.6622 | 0.0100 | pay 0.0100% / 8h | 49m 25s | $5K | $3 | 5x |
| Short | Binance MORPHOUSDT | 2.6605 | 0.0018 | get 0.0009% / 4h | 49m 25s | $16.1M | $25.8M | 75x |
Paradex MORPHO-USD-PERP
Binance MORPHOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Paradex. 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
- −$17.11
- Price spread: −0.063% → 0.000%
- −$6.34
- Slippage, 4 orders
- no order book: not counted
- Fee Paradex: 2 bp × 2 orders
- −$4
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$37.46
- Costs to cover
- 0.140%
- Break-even
- never at this rate
Slippage unknown: Paradex: no order-book sample; Binance: live order book, 7 min ago. 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 Paradex no order-book sample | — | — | — | — | — |
| Sell Binance live order book, 7 min ago | 0.19 bp | 14.5 bp −$14 | 37.0 bp −$370 | doesn't fit | doesn't fit |
Paradex: 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 | −0.1749% | 1h | 2.6592 | −0.114% | $82K | $146K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.0608% | 1h | 2.6582 | −0.150% | $873 | $12K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0537% | 1h | 2.6648 | +0.098% | $11K | $812 | 10x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0536% | 4h | 2.6564 | −0.217% | $29K | $134K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0498% | 1h | 2.6612 | −0.038% | $26K | $1.7M | 5x | as long as short |
| Injective MORPHO/USDC PERP | −0.0405% | 1h | 2.6430 | −0.721% | $37 | $242K | 5.5x | as long as short |
| Bybit MORPHOUSDT | −0.0377% | 4h | 2.6610 | −0.045% | $8.5M | $9.2M | 25x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0360% | 1h | 2.6654 | +0.120% | $77K | $43K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0225% | 4h | 2.6567 | −0.207% | $638K | $251K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0147% | 4h | 2.6608 | −0.053% | $10K | $34K | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
GRVT MORPHO_USDT_Perp
Polymarket Perps MORPHO-USD
Injective MORPHO/USDC PERP
Bybit MORPHOUSDT
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDCShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | −0.0124% | 4h | 2.6608 | −0.053% | $773K | $531K | 50x | as long as short |
| Variational Omni MORPHO | −0.0109% | 4h | 2.6572 | −0.189% | $630K | $1.0M | — | as long as short |
| Phoenix MORPHO | −0.0060% | 1h | 2.6612 | −0.038% | $44K | $477K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6612 | −0.038% | $16 | — | 10x | as long as short |
| MEXC MORPHO_USDT | +0.0014% | 4h | 2.6612 | −0.038% | $5.5M | $940K | 100x | as long as short |
| Extended MORPHO-USD | +0.0016% | 1h | 2.6609 | −0.050% | $103K | $301K | 10x | as long as short |
| Binance MORPHOUSDTshort | +0.0018% | 4h | 2.6605 | −0.063% | $16.1M | $25.8M | 75x | |
| Lighter MORPHO | +0.0096% | 1h | 2.6650 | +0.103% | $317K | $331K | 5x | as long as short |
| Paradex MORPHO-USD-PERPlong | +0.0100% | 8h | 2.6622 | long leg | $5K | $3 | 5x | |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6674 | +0.195% | $6.3M | $7.0M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6602 | −0.075% | $58K | $31K | 20x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6605 | −0.064% | $3.2M | $4.5M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6628 | +0.022% | $596K | $271K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6616 | −0.023% | $2.9M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6623 | +0.004% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6626 | +0.015% | $22K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −0.3373% | 1h | 2.6650 | +0.105% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Variational Omni MORPHO
Phoenix MORPHO
Reya MORPHORUSDPERP
MEXC MORPHO_USDT
Extended MORPHO-USD
Lighter MORPHO
Hyperliquid MORPHO
Aster MORPHOUSDT
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]