Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0223%/8h= +24.5% APRpaid last 24h +0.075%

Price spread now: Aster against Polymarket Perps−0.046%7-day average — · you buy dearer than you sell

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

Long on Polymarket Perps Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Aster is 0.046% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.046% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 16 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps MORPHO-USD	2.6228	−0.0123	get 0.0015% / 1h	29m 07s	$24K	$1.8M	5x
Short	Aster MORPHOUSDT	2.6216	0.0100	get 0.0050% / 4h	2h 29m	$57K	$30K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Polymarket Perps. 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 Polymarket PerpsbpFee AsterbpOrdersPrice spread, now −0.046%Rate

Funding earned: $46.92
Price spread: −0.046% → 0.000%: −$4.6
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Aster: 4 bp × 2 orders: −$8
Net: $26.32
Costs to cover: 0.160%
Break-even: 3.1 days

Slippage unknown: Polymarket Perps: live order book, 5 min ago; Aster: 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 Polymarket Perps live order book, 5 min ago	2.67 bp	8.9 bp −$9	9.5 bp −$95	doesn't fit	doesn't fit
Sell Aster no order-book sample	—	—	—	—	—

Aster: 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 26 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	−0.1916%	1h	2.6148	−0.304%	$80K	$128K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0513%	1h	2.6201	−0.103%	$11K	$785	10x	as long as short
01 Exchange MORPHOUSD	−0.0488%	1h	2.6228	0.000%	$862	$10K	5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0232%	1h	2.6299	+0.271%	$75K	$42K	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0151%	4h	2.6188	−0.153%	$10K	$34K	10x	as long as short
Polymarket Perps MORPHO-USDlong	−0.0123%	1h	2.6228	long leg	$24K	$1.8M	5x
GRVT MORPHO_USDT_Perp	−0.0048%	4h	2.6229	+0.004%	$32K	$142K	10x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6223	−0.021%	$16	—	10x	as long as short
Phoenix MORPHO	+0.0030%	1h	2.6267	+0.149%	$43K	$426K	5x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+0.770%	$37	$242K	5.5x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MORPHO_USDT	+0.0082%	4h	2.6218	−0.038%	$765K	$505K	50x	as long as short
Variational Omni MORPHO	+0.0092%	4h	2.6221	−0.027%	$625K	$913K	—	as long as short
Lighter MORPHO	+0.0096%	1h	2.6225	−0.010%	$314K	$319K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6247	+0.071%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6265	+0.141%	$6.2M	$7.0M	5x	as long as short
Aster MORPHOUSDTshort	+0.0100%	4h	2.6216	−0.046%	$57K	$30K	20x
Binance MORPHOUSDT	+0.0100%	4h	2.6221	−0.027%	$15.8M	$25.2M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6230	+0.008%	$8.3M	$9.3M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6244	+0.061%	$3.2M	$4.3M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6206	−0.084%	$5.5M	$886K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6220	−0.031%	$595K	$255K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6243	+0.057%	$2.9M	$1.7M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6227	−0.004%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6185	−0.164%	$21K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6196	−0.124%	$101K	$355K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0186% / S −15.6829%	1h	2.6218	−0.038%	$1K	—	100x	as long as short