MORPHO funding rates and arbitrage

MORPHO perpetuals trade on 17 contracts across 17 venues, forming 136 cross-venue arbitrage pairs. By net APR the current best pair is long Kraken against short Coinbase, netting +930.88%, with both legs settling on the same cadenceใ€‚

MORPHO perpetual funding rates by venue

APR = current rate ร— (24 รท settlement interval) ร— 365. Venues settle on different cadences, so rates must be annualised before comparing.

VenueContractMarginSettlementCurrent rateAPR24h avg APR24h volumeMark
BinanceMORPHOUSDTUSDT4h0.0036%+7.95%+8.02%$19.8M2.494
LBankMORPHOUSDTUSDT4h0.0036%+7.95%+8.05%$10.6M2.495
WhiteBITMORPHO_PERPUSDT4h0.0050%+10.95%+10.95%$9.1M2.491
BybitMORPHOUSDTUSDT4h0.0050%+10.95%+0.78%$4.9M2.498
HyperliquidMORPHOUSDC1h0.0013%+10.95%+10.95%$2.9M2.496
OKXMORPHO-USDT-SWAPUSDT4h0.0050%+10.95%+8.67%$2.4M2.494
BingXMORPHO-USDTUSDT4h0.0050%+10.95%+10.39%$1.6M2.495
MEXCMORPHO_USDTUSDT4h0.0035%+7.66%+8.01%$1.5M2.494
BitgetMORPHOUSDTUSDT4h0.0050%+10.95%+7.64%$1.3M2.496
LighterMORPHOUSDC1h0.0012%+10.51%+10.51%$531K2.497
GateMORPHO_USDTUSDT4h0.0050%+10.95%+7.66%$296K2.492
KuCoinMORPHOUSDTMUSDT4h0.0050%+10.95%+10.95%$229K2.495
KrakenPF_MORPHOUSDUSD1h-0.0099%-86.42%-14.20%$143K2.494
AsterMORPHOUSDTUSDT4h0.0050%+10.95%+5.66%$46K2.496
DeribitMORPHO_USDC-PERPETUALUSDC8h-0.0285%-31.17%-24.74%$25K2.494
Crypto.comMORPHOUSD-PERPUSD4h-0.0017%-3.79%+6.26%$5K2.494
CoinbaseMORPHO-PERPUSDC1h0.0964%+844.46%+844.46%$02.503

MORPHO cross-venue arbitrage pairs

Short the higher-APR leg and go long the lower one; net APR = short leg โˆ’ long leg.

LongShortNet APRDaily24h avgSettlementLiquidity
Kraken USDCoinbase USDC+930.88%2.5504%+858.67%1h matched$0
Deribit USDCCoinbase USDC+875.64%2.3990%+869.20%8h / 1h$0
Crypto.com USDCoinbase USDC+848.25%2.3240%+838.21%4h / 1h$0
MEXC USDTCoinbase USDC+836.80%2.2926%+836.46%4h / 1h$0
Binance USDTCoinbase USDC+836.52%2.2918%+836.44%4h / 1h$0
LBank USDTCoinbase USDC+836.52%2.2918%+836.41%4h / 1h$0
Lighter USDCCoinbase USDC+833.95%2.2848%+833.95%1h matched$0
Aster USDTCoinbase USDC+833.51%2.2836%+838.81%4h / 1h$0
BingX USDTCoinbase USDC+833.51%2.2836%+834.08%4h / 1h$0
Bitget USDTCoinbase USDC+833.51%2.2836%+836.82%4h / 1h$0
Bybit USDTCoinbase USDC+833.51%2.2836%+843.68%4h / 1h$0
Gate USDTCoinbase USDC+833.51%2.2836%+836.80%4h / 1h$0

Morpho project profile

Key facts
Total
1.00B
Max supply
1.00B
Type
Token
Market cap rank
#63
Decentralized Finance (DeFi)Lending/Borrowing ProtocolsArbitrum EcosystemEthereum EcosystemBase EcosystemCoinbase Ventures PortfolioPantera Capital PortfolioMorpho Ecosystem
Contract addresses
ethereum0x58d97b57bb95320f9a05dc918aef65434969c2b2
base0xbaa5cc21fd487b8fcc2f632f3f4e8d37262a0842
katana0x1e5efca3d0db2c6d5c67a4491845c43253eb9e4e
arbitrum0x40bd670a58238e6e230c430bbb5ce6ec0d40df48
About

Morpho is an open, efficient, and resilient platform that allows anyone to earn yield and borrow assets. Lenders can earn on Morpho using Morpho Vaults, noncustodial simple to use lending vaults that optimize yields for depositors. Borrowers can borrow any assets directly from Morpho Markets. At the same time, developers or businesses can create markets, curate vaults, and build a range of applications on its flexible, permissionless infrastructure. Morpho is really trustless, with immutable contracts, and governance minimized operations allowed by its simplicity. Morpho is efficient, it provides higher collateralization factors with its isolated lending markets, Improved interest rates and low gas consumption. Morpho is flexible with its permissionless market creation, permissionless risk management and has been designed to be developer-friendly.

Reference data from CoinGecko, independent of the rate data on this site. We do not verify or endorse what these links contain.

Funding rates for other coins

Snapshot taken 2026-10-19 17:53 UTC; the page regenerates every minute. For live data, history charts and filters, open the live dashboard, or browse All coins.