MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0560%/8h= +61.3% APRnext payment +$2.80 per $10,000 · paid last 24h +0.042%

Price spread now: OKX against GRVT+0.035%111s7-day average +0.067% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on GRVT Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.363%+$36 on $10k

Price spread, last 3 days (all we have)+0.137%+$14 · spread now +0.035%, 7d avg +0.067%

Together, before fees+0.500%+ Points / potential airdropGRVT: Active · farm board+$50 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.033% cheaper against GRVT than usual: you would sell low and buy high (spread +0.035% now, against its 7-day average of +0.067%). If the spread goes back, that is −$3 on $10k: about 5 hours of funding at the current rate (+$17 a day). At the pace of the last 7 days (+0.363% in total) that is about 15 hours. The two prices were read 111 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.363% in total (about 18.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.80 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT MORPHO_USDT_Perp	2.6511	−0.0460	get 0.0230% / 4h	9m 41s	$41K	$146K	10x
Short	OKX MORPHO-USDT-SWAP	2.6520	0.0100	get 0.0050% / 4h	9m 41s	$3.2M	$4.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against GRVT. 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 GRVTbpFee OKXbpOrdersPrice spread, now +0.035%Rate

Funding earned: $117.6
Price spread: +0.035% → +0.067%: −$3.25
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: $95.35
Costs to cover: 0.190%
Break-even: 1.3 days

Slippage unknown: GRVT: live order book, 2 min ago; OKX: live order book, 3 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 GRVT live order book, 2 min ago	1022.95 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 3 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	−0.1753%	1h	2.6525	+0.054%	$81K	$143K	20x	as long as short
01 Exchange MORPHOUSD	−0.0840%	1h	2.6475	−0.135%	$870	$12K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0653%	1h	2.6549	+0.144%	$11K	$812	10x	as long as short
GRVT MORPHO_USDT_Perplong	−0.0460%	4h	2.6511	long leg	$41K	$146K	10x
Polymarket Perps MORPHO-USD	−0.0459%	1h	2.6507	−0.014%	$28K	$1.7M	5x	as long as short
Injective MORPHO/USDC PERP	−0.0405%	1h	2.6430	−0.305%	$37	$242K	5.5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0360%	1h	2.6546	+0.133%	$76K	$43K	25x	as long as short
Bybit MORPHOUSDT	−0.0339%	4h	2.6534	+0.088%	$8.4M	$9.3M	25x	as long as short
BloFin MORPHO-USDT	−0.0187%	4h	2.6492	−0.071%	$638K	$253K	20x	as long as short
Variational Omni MORPHO	−0.0167%	4h	2.6481	−0.112%	$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	−0.0146%	4h	2.6538	+0.103%	$10K	$34K	10x	as long as short
Phoenix MORPHO	−0.0060%	1h	2.6531	+0.076%	$43K	$477K	5x	as long as short
Gate MORPHO_USDT	−0.0056%	4h	2.6560	+0.186%	$771K	$533K	50x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6506	−0.017%	$16	—	10x	as long as short
MEXC MORPHO_USDT	+0.0052%	4h	2.6544	+0.125%	$5.5M	$961K	100x	as long as short
Binance MORPHOUSDT	+0.0055%	4h	2.6533	+0.083%	$16.1M	$26.0M	75x	as long as short
Extended MORPHO-USD	+0.0056%	1h	2.6555	+0.166%	$103K	$298K	10x	as long as short
Aster MORPHOUSDT	+0.0082%	4h	2.6548	+0.140%	$58K	$30K	20x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6557	+0.174%	$316K	$331K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6506	−0.018%	$5K	$3	5x	as long as short
OKX MORPHO-USDT-SWAPshort	+0.0100%	4h	2.6520	+0.035%	$3.2M	$4.5M	20x
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6557	+0.174%	$595K	$268K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6553	+0.159%	$2.9M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6561	+0.190%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6557	+0.174%	$22K	$4K	5x	as long as short
Hyperliquid MORPHO	+0.0109%	1h	2.6609	+0.371%	$6.3M	$7.0M	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0158% / S −0.3418%	1h	2.6533	+0.085%	$1K	—	100x	as long as short