Funding you earn now, next payment 00:00 UTC+0.0218%/8h= +23.9% APRnext payment +$1.09 per $10,000 · paid last 24h +0.086%
Price spread now: OKX against Gate+0.008%7-day average +0.036% · you sell dearer than you buy
Net, funding: paid 7d − costs−$103as in the Funding arb table
Net, price: spread back to 7d avg − costs−$126as in the Price arb table
costs, in and out, $10k−$1241.235% of the position
Funding, last 7 days+0.204%+$20 on $10k
+Price spread, last 4 days (all we have)+0.068%+$7 · spread now +0.008%, 7d avg +0.036%
=Funding pays, the price is against you. OKX is 0.029% cheaper against Gate than usual: you would sell low and buy high (spread +0.008% now, against its 7-day average of +0.036%). If the spread goes back, that is −$3 on $10k: about 10 hours of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.204% in total) that is about 24 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate MORPHO_USDT | 2.6458 | −0.0118 | get 0.0059% / 4h | 1h 00m | $768K | $534K | 50x |
| Short | OKX MORPHO-USDT-SWAP | 2.6460 | 0.0100 | get 0.0050% / 4h | 1h 00m | $3.2M | $4.4M | 20x |
Gate MORPHO_USDT
OKX MORPHO-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against Gate. 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
- $45.78
- Price spread: +0.008% → +0.036%
- −$2.86
- Slippage, 4 orders
- −$98.51
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$80.59
- Costs to cover
- 1.235%
- Break-even
- 19.3 days
Slippage from Gate: live order book, 16 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 Gate live order book, 16 min ago | 5.48 bp | 47.4 bp −$47 | doesn't fit | doesn't fit | doesn't fit |
| Sell OKX live order book, 2 min ago | 0.38 bp | 16.6 bp −$17 | 99.0 bp −$990 | 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 | 2.6398 | −0.226% | $81K | $148K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.1160% | 1h | 2.6375 | −0.314% | $867 | $12K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1149% | 1h | 2.6420 | −0.144% | $11K | $812 | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0674% | 1h | 2.6424 | −0.129% | $24K | $1.7M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0576% | 4h | 2.6390 | −0.257% | $29K | $134K | 10x | as long as short |
| Bybit MORPHOUSDT | −0.0404% | 4h | 2.6460 | +0.008% | $8.4M | $9.3M | 25x | as long as short |
| Injective MORPHO/USDC PERP | −0.0337% | 1h | 2.6430 | −0.106% | $37 | $242K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0312% | 1h | 2.6434 | −0.091% | $76K | $43K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0224% | 4h | 2.6400 | −0.219% | $639K | $249K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0145% | 4h | 2.6421 | −0.140% | $10K | $34K | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Bybit MORPHOUSDT
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDCShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDTlong | −0.0118% | 4h | 2.6458 | long leg | $768K | $534K | 50x | |
| Phoenix MORPHO | −0.0090% | 1h | 2.6447 | −0.042% | $43K | $484K | 5x | as long as short |
| Variational Omni MORPHO | −0.0080% | 4h | 2.6401 | −0.214% | $627K | $1.2M | — | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6420 | −0.142% | $16 | — | 10x | as long as short |
| Extended MORPHO-USD | +0.0016% | 1h | 2.6443 | −0.058% | $103K | $301K | 10x | as long as short |
| Binance MORPHOUSDT | +0.0016% | 4h | 2.6452 | −0.022% | $16.1M | $25.8M | 75x | as long as short |
| MEXC MORPHO_USDT | +0.0016% | 4h | 2.6451 | −0.026% | $5.4M | $1.1M | 100x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6464 | +0.022% | $315K | $334K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6423 | −0.130% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6506 | +0.181% | $6.2M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6455 | −0.011% | $58K | $31K | 20x | as long as short |
| OKX MORPHO-USDT-SWAPshort | +0.0100% | 4h | 2.6460 | +0.008% | $3.2M | $4.4M | 20x | |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6475 | +0.064% | $592K | $269K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6458 | 0.000% | $2.9M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6460 | +0.008% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6420 | −0.144% | $22K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −0.3373% | 1h | 2.6452 | −0.024% | $1K | — | 100x | as long as short |
Phoenix MORPHO
Variational Omni MORPHO
Reya MORPHORUSDPERP
Extended MORPHO-USD
Binance MORPHOUSDT
MEXC MORPHO_USDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]