Funding you earn now, next payment 22:00 UTC+0.1312%/8h= +143.6% APRpaid last 24h +0.242%
Price spread now: OKX against Deribit+0.161%46s7-day average — · you sell dearer than you buy
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 for this trade now. Funding pays +$39 a day on $10k at the current rate, and OKX is 0.161% dearer against Deribit than usual: you sell high and buy low: +$16 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit MORPHO_USDC-PERPETUAL | 2.6643 | −0.1212 | get 0.0151% / 1h | 55m 34s | $10K | $623 | 10x |
| Short | OKX MORPHO-USDT-SWAP | 2.6686 | 0.0100 | get 0.0050% / 4h | 2h 55m | $3.2M | $4.5M | 20x |
Deribit MORPHO_USDC-PERPETUAL
OKX MORPHO-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against Deribit. 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
- $275.45
- Price spread: +0.161% → 0.000%
- $16.14
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- $274.59
- Costs to cover
- 0.170%
- Break-even
- 0.0 days
Slippage unknown: Deribit: no order-book sample; OKX: live order book, 2 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 Deribit no order-book sample | — | — | — | — | — |
| Sell OKX live order book, 2 min ago | 1.50 bp | 18.2 bp −$18 | 125.0 bp −$1,250 | doesn't fit | doesn't fit |
Deribit: 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_MORPHOUSD | −0.2048% | 1h | 2.6617 | −0.099% | $84K | $147K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.1336% | 1h | 2.6554 | −0.334% | $873 | $12K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUALlong | −0.1212% | 1h | 2.6643 | long leg | $10K | $623 | 10x | |
| Polymarket Perps MORPHO-USD | −0.0703% | 1h | 2.6631 | −0.045% | $25K | $2.0M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0608% | 4h | 2.6672 | +0.109% | $41K | $151K | 10x | as long as short |
| Bybit MORPHOUSDT | −0.0406% | 4h | 2.6690 | +0.176% | $8.8M | $10.0M | 25x | as long as short |
| Injective MORPHO/USDC PERP | −0.0385% | 1h | 2.7020 | +1.415% | $38 | $123K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0296% | 1h | 2.6813 | +0.638% | $77K | $46K | 25x | as long as short |
| Gate MORPHO_USDT | −0.0248% | 4h | 2.6660 | +0.064% | $761K | $517K | 50x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6671 | +0.105% | $654K | $205K | 20x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Bybit MORPHOUSDT
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
Gate MORPHO_USDT
BloFin MORPHO-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_MORPHO_USDC | −0.0199% | 4h | 2.6632 | −0.041% | $10K | $34K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6640 | −0.012% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | +0.0059% | 1h | 2.6824 | +0.679% | $34K | $470K | 5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6703 | +0.224% | $318K | $335K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6639 | −0.014% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6695 | +0.195% | $6.3M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6694 | +0.193% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6664 | +0.079% | $16.4M | $26.8M | 75x | as long as short |
| OKX MORPHO-USDT-SWAPshort | +0.0100% | 4h | 2.6686 | +0.161% | $3.2M | $4.5M | 20x | |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6650 | +0.026% | $5.4M | $1.1M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6667 | +0.090% | $601K | $270K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6664 | +0.079% | $2.9M | $2.0M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6671 | +0.105% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6700 | +0.213% | $649K | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6639 | −0.015% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6667 | +0.089% | $104K | $301K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0193% / S −16.5420% | 1h | 2.6664 | +0.080% | $1K | — | 100x | as long as short |
Orderly PERP_MORPHO_USDC
Reya MORPHORUSDPERP
Phoenix MORPHO
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]