Funding you earn now, next payment 05:00 UTC−0.2272%/8h= −248.8% APRnext payment −$2.84 per $10,000 · paid last 24h −0.084%
Price spread now: Kraken Futures against SoDEX−0.030%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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
Both sides work against this trade now: funding costs −$68 a day on $10k at the current rate, and Kraken Futures is 0.030% cheaper against SoDEX than usual: you would sell low and buy high (−$3 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 | SoDEX MORPHO-USD | 2.6000 | 0.0100 | pay 0.0013% / 1h | 20m 17s | $21K | $4K | 5x |
| Short | Kraken Futures PF_MORPHOUSD | 2.5992 | −0.2172 | pay 0.0271% / 1h | 20m 17s | $81K | $124K | 20x |
SoDEX MORPHO-USD
Kraken Futures PF_MORPHOUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against SoDEX. 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
- −$477.1
- Price spread: −0.030% → 0.000%
- −$3.04
- Slippage, 4 orders
- no order book: not counted
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$498.13
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: SoDEX: no order-book sample; Kraken Futures: live order book, 32 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 SoDEX no order-book sample | — | — | — | — | — |
| Sell Kraken Futures live order book, 32 min ago | 13.77 bp | 38.1 bp −$38 | 138.0 bp −$1,380 | doesn't fit | doesn't fit |
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_MORPHOUSDshort | −0.2172% | 1h | 2.5992 | −0.030% | $81K | $124K | 20x | |
| Deribit MORPHO_USDC-PERPETUAL | −0.1324% | 1h | 2.6004 | +0.015% | $11K | $2K | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0960% | 1h | 2.5947 | −0.204% | $853 | $9K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0528% | 4h | 2.5992 | −0.030% | $34K | $140K | 10x | as long as short |
| Bybit MORPHOUSDT | −0.0234% | 4h | 2.6026 | +0.100% | $8.1M | $8.5M | 25x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0216% | 1h | 2.6099 | +0.381% | $75K | $41K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6007 | +0.027% | $634K | $241K | 20x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0176% | 1h | 2.6005 | +0.019% | $24K | $1.5M | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0134% | 4h | 2.6006 | +0.023% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0061% | 1h | 2.6028 | +0.108% | $43K | $337K | 5x | as long as short |
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Bybit MORPHOUSDT
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Polymarket Perps MORPHO-USD
Orderly PERP_MORPHO_USDC
Phoenix MORPHOShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.5992 | −0.029% | $16 | — | 10x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +1.654% | $37 | $242K | 5.5x | as long as short |
| Gate MORPHO_USDT | +0.0058% | 4h | 2.6001 | +0.004% | $761K | $472K | 50x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6032 | +0.122% | $312K | $293K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6005 | +0.017% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6037 | +0.142% | $6.0M | $6.8M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6035 | +0.136% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.5997 | −0.011% | $15.7M | $24.0M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6034 | +0.131% | $3.2M | $4.0M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.5999 | −0.004% | $6.0M | $836K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6027 | +0.104% | $598K | $248K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5999 | −0.004% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6008 | +0.031% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6015 | +0.059% | $620K | $675K | — | as long as short |
| SoDEX MORPHO-USDlong | +0.0100% | 1h | 2.6000 | long leg | $21K | $4K | 5x | |
| Extended MORPHO-USD | +0.0104% | 1h | 2.5990 | −0.040% | $100K | $346K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6036 | +0.140% | $1K | — | 100x | as long as short |
Reya MORPHORUSDPERP
Injective MORPHO/USDC PERP
Gate MORPHO_USDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]