MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0431%/8h= −47.2% APRnext payment −$0.54 per $10,000 · paid last 24h −0.257%

Price spread now: Deribit against Reya+0.037%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Deribit

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—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread pays, funding is against you. Deribit is 0.037% dearer against Reya than usual: you sell high and buy low (spread +0.037% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya MORPHORUSDPERP	2.6229	−0.0004	get 0.0001% / 1h	20m 38s	$16	—	10x
Short	Deribit MORPHO_USDC-PERPETUAL	2.6239	−0.0436	pay 0.0054% / 1h	20m 38s	$11K	$785	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Reya. 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 ReyabpFee DeribitbpOrdersPrice spread, now +0.037%Rate

Funding earned: −$90.52
Price spread: +0.037% → 0.000%: $3.66
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$99.86
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; 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 Reya no order-book sample	—	—	—	—	—
Sell Deribit no order-book sample	—	—	—	—	—

Reya and 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 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	−0.1913%	1h	2.6186	−0.167%	$80K	$128K	20x	as long as short
01 Exchange MORPHOUSD	−0.0456%	1h	2.6203	−0.101%	$861	$10K	5x	as long as short
Deribit MORPHO_USDC-PERPETUALshort	−0.0436%	1h	2.6239	+0.037%	$11K	$785	10x
Coinbase International MORPHO-PERP-INTX	−0.0232%	1h	2.6299	+0.265%	$75K	$42K	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0154%	4h	2.6234	+0.018%	$10K	$34K	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0111%	1h	2.6236	+0.025%	$28K	$1.8M	5x	as long as short
Reya MORPHORUSDPERPlong	−0.0004%	1h	2.6229	long leg	$16	—	10x
GRVT MORPHO_USDT_Perp	+0.0018%	4h	2.6269	+0.150%	$32K	$142K	10x	as long as short
Phoenix MORPHO	+0.0030%	1h	2.6252	+0.086%	$43K	$426K	5x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+0.765%	$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	+0.0060%	4h	2.6200	−0.112%	$763K	$505K	50x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6243	+0.052%	$314K	$319K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6188	−0.159%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6247	+0.067%	$6.2M	$7.0M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6245	+0.059%	$57K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6196	−0.127%	$15.8M	$25.2M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6200	−0.112%	$8.3M	$9.3M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6220	−0.036%	$3.2M	$4.3M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6197	−0.124%	$5.5M	$888K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6228	−0.005%	$595K	$255K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6203	−0.101%	$2.9M	$1.7M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6213	−0.063%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6220	−0.035%	$625K	$912K	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6229	−0.002%	$22K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6189	−0.155%	$101K	$355K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0186% / S −15.6829%	1h	2.6233	+0.012%	$1K	—	100x	as long as short