Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against BingX+0.083%7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$700.704% of the position

Long on BingX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$2 on $10k

Price spread, last 7 days−0.091%−$9 · spread now +0.083%, 7d avg 0.000%

Together, before fees−0.107%−$11 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.083% dearer against BingX than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX MORPHO-USDT	2.6506	0.0100	pay 0.0050% / 4h	10m 44s	—	$1.4M	—
Short	OKX MORPHO-USDT-SWAP	2.6528	0.0100	get 0.0050% / 4h	10m 44s	$3.2M	$4.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against BingX. 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 BingXbpFee OKXbpOrdersPrice spread, now +0.083%Rate

Funding earned: $0
Price spread: +0.083% → 0.000%: $8.26
Slippage, 4 orders: −$50.42
Fee BingX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$62.16
Costs to cover: 0.704%
Break-even: never at this rate

Slippage from BingX: live order book, 6 min ago; OKX: live order book, 2 min ago.

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 BingX live order book, 6 min ago	2.45 bp	15.5 bp −$16	30.7 bp −$307	335.8 bp −$33.6K	649.3 bp −$324.6K
Sell OKX live order book, 2 min ago	1.51 bp	21.5 bp −$21	82.7 bp −$827	doesn't fit	doesn't fit

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_MORPHOUSD	−0.1756%	1h	2.6477	−0.109%	$81K	$143K	20x	as long as short
01 Exchange MORPHOUSD	−0.0840%	1h	2.6452	−0.204%	$869	$12K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0655%	1h	2.6500	−0.023%	$11K	$812	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0461%	1h	2.6497	−0.034%	$28K	$1.7M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0460%	4h	2.6511	+0.018%	$41K	$146K	10x	as long as short
Injective MORPHO/USDC PERP	−0.0405%	1h	2.6430	−0.287%	$37	$242K	5.5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0360%	1h	2.6555	+0.185%	$76K	$43K	25x	as long as short
Bybit MORPHOUSDT	−0.0336%	4h	2.6510	+0.015%	$8.4M	$9.3M	25x	as long as short
BloFin MORPHO-USDT	−0.0187%	4h	2.6492	−0.053%	$638K	$253K	20x	as long as short
Variational Omni MORPHO	−0.0167%	4h	2.6481	−0.094%	$630K	$1.0M	—	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_MORPHO_USDC	−0.0147%	4h	2.6491	−0.057%	$10K	$34K	10x	as long as short
Phoenix MORPHO	−0.0060%	1h	2.6531	+0.094%	$43K	$477K	5x	as long as short
Gate MORPHO_USDT	−0.0058%	4h	2.6514	+0.030%	$770K	$532K	50x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6489	−0.064%	$16	—	10x	as long as short
MEXC MORPHO_USDT	+0.0046%	4h	2.6495	−0.042%	$5.5M	$961K	100x	as long as short
Binance MORPHOUSDT	+0.0053%	4h	2.6503	−0.011%	$16.1M	$26.0M	75x	as long as short
Extended MORPHO-USD	+0.0056%	1h	2.6504	−0.009%	$103K	$298K	10x	as long as short
Aster MORPHOUSDT	+0.0090%	4h	2.6505	−0.005%	$58K	$30K	20x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6533	+0.102%	$316K	$331K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6485	−0.079%	$5K	$3	5x	as long as short
OKX MORPHO-USDT-SWAPshort	+0.0100%	4h	2.6528	+0.083%	$3.2M	$4.5M	20x
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6526	+0.075%	$594K	$268K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6514	+0.030%	$2.9M	$1.8M	75x	as long as short
BingX MORPHO-USDTlong	+0.0100%	4h	2.6506	long leg	—	$1.4M	—
SoDEX MORPHO-USD	+0.0100%	1h	2.6485	−0.079%	$22K	$4K	5x	as long as short
Hyperliquid MORPHO	+0.0110%	1h	2.6573	+0.253%	$6.3M	$7.0M	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0158% / S −0.3418%	1h	2.6519	+0.050%	$1K	—	100x	as long as short