MORPHO Funding Rate — live across 12 venues

Compared across 12 supported venues · net of estimated fees · updated every few minutes

Live annualized MORPHO perpetual funding across all 12 venues Perpia tracks. Right now MORPHO funding is positive on 6 and negative on 6, ranging from +10.9% on BingX to -77.7% on Gate.io — a spread of 88.7%. The widest delta-neutral trade is long Gate.io / short BingX at 85.2% net APR.

venues

paying positive

88.7%

funding spread

Best MORPHO spread now

85.2%

net APR after fees

Long Gate.io→Short BingX

size depends on live venue depth — see the real cap in the scanner

MORPHO funding trend & liquidity

168h of history

88.7%

current gross APR

1.9%

24h average

7.9%

7-day average

$361K

pair OI · lower leg

$184K

24h volume · lower leg

Averages are historical funding over the window shown. A current rate near the 7-day average may indicate the spread has persisted; a rate far above it is usually a short-lived spike. OI and volume are the smaller (binding) leg of the best pair — the ceiling on tradeable size.

MORPHO funding rate history

30d · 6h buckets · 12 venues

180%0-359.4%

4 Aug3 Sep

MORPHO — average across 12 venuesAsterExtendedHyperliquidBinance

Annualized funding, averaged into 6-hour buckets. The bold line is the mean across venues quoting in that bucket; the faint lines are individual venues. Mean over the window: +1.7%. A break in a line means no data was recorded for that stretch, not a zero rate.

MORPHO funding rate by venue

47 pairs scanned

Venue	Funding APR	Interval
BingX ↗	+10.9%	4h
KuCoin ↗	+10.9%	4h
Bitget ↗	+10.9%	4h
Hyperliquid ↗	+10.9%	1h
Lighter ↗	+10.5%	8h
OKX ↗	+9.8%	4h
Variational ↗	-5.7%	4h
Binance ↗	-17.2%	4h
MEXC ↗	-17.3%	4h
Extended ↗	-17.5%	1h
Bybit ↗	-26.5%	4h
Gate.io ↗	-77.7%	4h

Rates annualized; updated ~every few minutes from live venue data. Venue names link to that exchange's full funding table; ↗ opens the market on the exchange itself. Every spread between these two venues is on the Gate.io vs BingX page.

MORPHO arbitrage — 30-day backtest

long Gate.io · short BingX

4.4%

backtested APR

+$36

historical net P&L on $10,000

0.16%

max drawdown

$10,000$10,036

30 days agostarting capital $10,000today

Over the last 30 days, holding long Gate.io / short BingX would have produced 4.4% APR — versus the 85.2% the live spread implies right now (equity $10,000 → $10,036). This is a backtest on historical funding, not a live result: funding drifts and decays, so backtested results rarely match the current headline rate — which is why size and holding window matter more than the top-line number.

Open full interactive backtest →

Loading MORPHO backtest…

MORPHO funding — FAQ

Is MORPHO funding positive right now?

MORPHO perpetual funding is positive on 6 of 12 venues Perpia tracks and negative on 6. The highest is +10.9% on BingX; the lowest is -77.7% on Gate.io.

What is the best MORPHO funding arbitrage right now?

Go long Gate.io and short BingX for about 85.2% net APR after fees — the widest delta-neutral MORPHO spread Perpia currently sees.

Which exchange has the highest MORPHO funding rate?

BingX, at +10.9% annualized. Funding shifts continuously, so check the live table above before trading.

How MORPHO funding arbitrage works

Funding arbitrage combines opposing positions on two venues — long the one paying the most negative funding, short the one paying the most positive — to reduce directional exposure and capture the difference between their funding payments. Fees, slippage, basis divergence and liquidation risk can reduce the result. See the methodology for how it is measured and the guide for the full walkthrough.

Markets related to MORPHO

Markets also quoted on both BingX and Gate.io — the same two exchanges you would already have funded for the MORPHO trade.

See every spread between them on the BingX vs Gate.io page.

Open the live scanner →All funding rates Funding by exchange How we calculate this