MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0397%/8h= −43.5% APRnext payment −$0.50 per $10,000 · paid last 24h −0.003%

Price spread now: Coinbase International against Phoenix+0.046%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.301%+$30 on $10k

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. Coinbase International is 0.046% dearer against Phoenix than usual: you sell high and buy low (spread +0.046% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 9 hours. Mind the row above: over the last 7 days funding on this pair paid +0.301%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix MORPHO	2.5920	−0.0155	get 0.0019% / 1h	14m 34s	$33K	$308K	5x
Short	Coinbase International MORPHO-PERP-INTX	2.5932	−0.0552	pay 0.0069% / 1h	14m 34s	$70K	$38K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Phoenix. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 PhoenixbpFee Coinbase InternationalbpOrdersPrice spread, now +0.046%Rate

Funding earned: −$83.38
Price spread: +0.046% → 0.000%: $4.63
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$95.75
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Phoenix: live order book, 17 min ago; Coinbase International: 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 Phoenix live order book, 17 min ago	1.17 bp	12.9 bp −$13	52.3 bp −$523	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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	−0.2447%	1h	2.5975	+0.214%	$84K	$124K	20x	as long as short
01 Exchange MORPHOUSD	−0.0744%	1h	2.5958	+0.147%	$853	$9K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0712%	1h	2.5972	+0.201%	$11K	$3K	10x	as long as short
Coinbase International MORPHO-PERP-INTXshort	−0.0552%	1h	2.5932	+0.046%	$70K	$38K	25x
BloFin MORPHO-USDT	−0.0388%	4h	2.5960	+0.154%	$632K	$240K	20x	as long as short
GRVT MORPHO_USDT_Perp	−0.0386%	4h	2.5854	−0.254%	$30K	$123K	10x	as long as short
Variational Omni MORPHO	−0.0330%	4h	2.6001	+0.313%	$619K	$526K	—	as long as short
Orderly PERP_MORPHO_USDC	−0.0318%	4h	2.5972	+0.201%	$10K	$34K	10x	as long as short
Aster MORPHOUSDT	−0.0305%	4h	2.5984	+0.247%	$55K	$48K	20x	as long as short
Phoenix MORPHOlong	−0.0155%	1h	2.5920	long leg	$33K	$308K	5x

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended MORPHO-USD	−0.0152%	1h	2.5959	+0.149%	$100K	$370K	10x	as long as short
MEXC MORPHO_USDT	−0.0148%	4h	2.5972	+0.201%	$6.4M	$933K	100x	as long as short
Binance MORPHOUSDT	−0.0143%	4h	2.5968	+0.186%	$15.6M	$23.5M	75x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.5968	+0.186%	$16	—	10x	as long as short
Bybit MORPHOUSDT	+0.0026%	4h	2.5976	+0.216%	$7.8M	$8.3M	25x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+1.968%	$37	$242K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6065	+0.559%	$313K	$284K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.5960	+0.153%	$5K	$203	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6005	+0.329%	$5.9M	$7.0M	5x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.5961	+0.158%	$3.2M	$4.1M	20x	as long as short
Gate MORPHO_USDT	+0.0100%	4h	2.5985	+0.251%	$763K	$489K	50x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6000	+0.309%	$581K	$267K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.5961	+0.158%	$2.8M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.5993	+0.282%	—	$1.4M	—	as long as short
Polymarket Perps MORPHO-USD	+0.0100%	1h	2.6000	+0.309%	$25K	$1.3M	5x	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.5967	+0.181%	$21K	$5K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0157% / S −12.8912%	1h	2.5988	+0.261%	$1K	—	100x	as long as short