MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0190%/8h= +20.9% APRnext payment +$0.24 per $10,000 · paid last 24h +0.032%

Price spread now: SoDEX against Phoenix−0.053%7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on SoDEX

What this pair did over the last

the charts below follow

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

Funding pays, the price is against you. SoDEX is 0.053% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.053% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 22 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix MORPHO	2.6408	−0.0090	get 0.0011% / 1h	25m 10s	$34K	$484K	5x
Short	SoDEX MORPHO-USD	2.6394	0.0100	get 0.0013% / 1h	25m 10s	$22K	$4K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Phoenix. 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 PhoenixbpFee SoDEXbpOrdersPrice spread, now −0.053%Rate

Funding earned: $40
Price spread: −0.053% → 0.000%: −$5.3
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $19.7
Costs to cover: 0.150%
Break-even: 3.6 days

Slippage unknown: Phoenix: live order book, 57 min ago; SoDEX: 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, 57 min ago	1.13 bp	12.9 bp −$13	52.2 bp −$522	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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	−0.1862%	1h	2.6361	−0.177%	$82K	$149K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1414%	1h	2.6391	−0.064%	$11K	$812	10x	as long as short
01 Exchange MORPHOUSD	−0.1200%	1h	2.6328	−0.303%	$865	$13K	5x	as long as short
Polymarket Perps MORPHO-USD	−0.0703%	1h	2.6394	−0.053%	$24K	$1.7M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0610%	4h	2.6378	−0.114%	$29K	$146K	10x	as long as short
Bybit MORPHOUSDT	−0.0534%	4h	2.6400	−0.030%	$8.5M	$9.3M	25x	as long as short
Injective MORPHO/USDC PERP	−0.0337%	1h	2.6430	+0.083%	$37	$242K	5.5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0312%	1h	2.6413	+0.019%	$76K	$43K	25x	as long as short
BloFin MORPHO-USDT	−0.0207%	4h	2.6354	−0.204%	$640K	$243K	20x	as long as short
Gate MORPHO_USDT	−0.0166%	4h	2.6383	−0.095%	$766K	$533K	50x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_MORPHO_USDC	−0.0149%	4h	2.6394	−0.053%	$10K	$34K	10x	as long as short
Phoenix MORPHOlong	−0.0090%	1h	2.6408	long leg	$34K	$484K	5x
Variational Omni MORPHO	−0.0077%	4h	2.6372	−0.137%	$627K	$1.2M	—	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6400	−0.031%	$16	—	10x	as long as short
Extended MORPHO-USD	+0.0032%	1h	2.6390	−0.069%	$102K	$301K	10x	as long as short
MEXC MORPHO_USDT	+0.0032%	4h	2.6393	−0.057%	$5.4M	$1.1M	100x	as long as short
Binance MORPHOUSDT	+0.0033%	4h	2.6393	−0.055%	$16.1M	$25.8M	75x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6431	+0.087%	$315K	$334K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6364	−0.166%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6454	+0.174%	$6.2M	$7.1M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6404	−0.015%	$58K	$31K	20x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6408	0.000%	$3.2M	$4.4M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6417	+0.034%	$590K	$269K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6404	−0.015%	$2.9M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6406	−0.008%	—	$1.5M	—	as long as short
SoDEX MORPHO-USDshort	+0.0100%	1h	2.6394	−0.053%	$22K	$4K	5x
GMX MORPHO/USD [ETH-USDC]	L +0.0188% / S −12.8197%	1h	2.6431	+0.086%	$1K	—	100x	as long as short