Funding you earn now, next payment 00:00 UTC+0.0300%/8h= +32.9% APRnext payment +$1.50 per $10,000 · paid last 24h +0.060%
Price spread now: OKX against BloFin+0.098%7-day average +0.021% · you sell dearer than you buy
Net, funding: paid 7d − costs−$109as in the Funding arb table
Net, price: spread back to 7d avg − costs−$61as in the Price arb table
costs, in and out, $10k−$690.692% of the position
Funding, last 7 days−0.400%−$40 on $10k
+Price spread, last 3 days (all we have)+0.038%+$4 · spread now +0.098%, 7d avg +0.021%
=Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and OKX is 0.078% dearer against BloFin than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.021%. Mind the row above: over the last 7 days funding on this pair cost −0.400%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BloFin MORPHO-USDT | 2.6411 | −0.0200 | get 0.0100% / 4h | 1h 53m | $642K | $245K | 20x |
| Short | OKX MORPHO-USDT-SWAP | 2.6437 | 0.0100 | get 0.0050% / 4h | 1h 53m | $3.2M | $4.4M | 20x |
BloFin MORPHO-USDT
OKX MORPHO-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against BloFin. 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
- $63
- Price spread: +0.098% → +0.021%
- $7.77
- Slippage, 4 orders
- −$47.18
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- $1.58
- Costs to cover
- 0.692%
- Break-even
- 6.8 days
Slippage from BloFin: live order book, 28 min ago; OKX: live order book, 4 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 BloFin live order book, 28 min ago | 0.56 bp | 13.5 bp −$13 | 27.9 bp −$279 | doesn't fit | doesn't fit |
| Sell OKX live order book, 4 min ago | 1.13 bp | 17.5 bp −$18 | 120.3 bp −$1,203 | 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 | −0.1859% | 1h | 2.6396 | −0.056% | $82K | $149K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1224% | 1h | 2.6421 | +0.038% | $11K | $911 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.1184% | 1h | 2.6386 | −0.095% | $867 | $13K | 5x | as long as short |
| Bybit MORPHOUSDT | −0.0633% | 4h | 2.6432 | +0.080% | $8.5M | $9.6M | 25x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0592% | 1h | 2.6440 | +0.110% | $26K | $1.8M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0544% | 4h | 2.6541 | +0.493% | $29K | $154K | 10x | as long as short |
| Injective MORPHO/USDC PERP | −0.0337% | 1h | 2.6610 | +0.753% | $37 | $198K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0312% | 1h | 2.6617 | +0.780% | $77K | $45K | 25x | as long as short |
| Gate MORPHO_USDT | −0.0212% | 4h | 2.6469 | +0.220% | $771K | $530K | 50x | as long as short |
| BloFin MORPHO-USDTlong | −0.0200% | 4h | 2.6411 | long leg | $642K | $245K | 20x |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Bybit MORPHOUSDT
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
Gate MORPHO_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_MORPHO_USDC | −0.0161% | 4h | 2.6431 | +0.076% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0090% | 1h | 2.6500 | +0.337% | $34K | $484K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6446 | +0.134% | $16 | — | 10x | as long as short |
| Variational Omni MORPHO | +0.0035% | 4h | 2.6558 | +0.556% | $643K | $1.2M | — | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6503 | +0.349% | $315K | $333K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6444 | +0.126% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6501 | +0.341% | $6.2M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6496 | +0.322% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6432 | +0.081% | $16.1M | $26.2M | 75x | as long as short |
| OKX MORPHO-USDT-SWAPshort | +0.0100% | 4h | 2.6437 | +0.098% | $3.2M | $4.4M | 20x | |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6446 | +0.133% | $5.5M | $1.0M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6495 | +0.318% | $619K | $266K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6464 | +0.201% | $2.9M | $1.9M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6455 | +0.167% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6425 | +0.053% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6422 | +0.043% | $103K | $301K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6470 | +0.222% | $1K | — | 100x | as long as short |
Orderly PERP_MORPHO_USDC
Phoenix MORPHO
Reya MORPHORUSDPERP
Variational Omni MORPHO
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]