Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against KuCoin0.000%7-day average −0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$188as in the Funding arb table

Net, price: spread back to 7d avg − costs−$187as in the Price arb table

costs, in and out, $10k−$1891.888% of the position

Long on KuCoin Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 4 days (all we have)+0.053%+$5 · spread now 0.000%, 7d avg −0.022%

Together, before fees+0.057%+$6 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 0.022% dearer against KuCoin than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MORPHOUSDTM	2.5803	0.0100	pay 0.0050% / 4h	0m 06s	$587K	$263K	50x
Short	OKX MORPHO-USDT-SWAP	2.5803	0.0100	get 0.0050% / 4h	0m 06s	$3.2M	$4.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against KuCoin. 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 KuCoinbpFee OKXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.022%: $2.24
Slippage, 4 orders: −$166.77
Fee KuCoin: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$186.53
Costs to cover: 1.888%
Break-even: never at this rate

Slippage from KuCoin: live order book, 34 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 KuCoin live order book, 34 min ago	10.65 bp	58.9 bp −$59	166.2 bp −$1,662	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.39 bp	17.8 bp −$18	91.0 bp −$910	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
01 Exchange MORPHOUSD	−0.1424%	1h	2.5714	−0.345%	$845	$9K	5x	as long as short
Kraken Futures PF_MORPHOUSD	−0.1239%	1h	2.5753	−0.194%	$84K	$134K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1221%	1h	2.5787	−0.062%	$11K	$3K	10x	as long as short
GRVT MORPHO_USDT_Perp	−0.0684%	4h	2.5781	−0.085%	$30K	$123K	10x	as long as short
Bybit MORPHOUSDT	−0.0590%	4h	2.5785	−0.070%	$7.8M	$8.4M	25x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0496%	1h	2.5636	−0.647%	$70K	$37K	25x	as long as short
Variational Omni MORPHO	−0.0464%	4h	2.5782	−0.083%	$615K	$526K	—	as long as short
BloFin MORPHO-USDT	−0.0408%	4h	2.5747	−0.217%	$629K	$238K	20x	as long as short
Polymarket Perps MORPHO-USD	−0.0361%	1h	2.5830	+0.105%	$25K	$1.4M	5x	as long as short
Orderly PERP_MORPHO_USDC	−0.0267%	4h	2.5779	−0.093%	$10K	$34K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix MORPHO	−0.0185%	1h	2.5805	+0.008%	$33K	$336K	5x	as long as short
Gate MORPHO_USDT	−0.0182%	4h	2.5790	−0.050%	$759K	$507K	50x	as long as short
Aster MORPHOUSDT	−0.0168%	4h	2.5785	−0.070%	$54K	$48K	20x	as long as short
Extended MORPHO-USD	−0.0168%	1h	2.5776	−0.106%	$99K	$375K	10x	as long as short
Binance MORPHOUSDT	−0.0168%	4h	2.5784	−0.074%	$15.5M	$23.8M	75x	as long as short
MEXC MORPHO_USDT	−0.0166%	4h	2.5780	−0.089%	$6.2M	$910K	100x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.5781	−0.083%	$15	—	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+2.430%	$37	$242K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	2.5830	+0.104%	$311K	$288K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.5778	−0.097%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.5832	+0.112%	$5.9M	$7.0M	5x	as long as short
OKX MORPHO-USDT-SWAPshort	+0.0100%	4h	2.5803	0.000%	$3.2M	$4.1M	20x
KuCoin MORPHOUSDTMlong	+0.0100%	4h	2.5803	long leg	$587K	$263K	50x
Bitget MORPHOUSDT	+0.0100%	4h	2.5773	−0.116%	$2.8M	$1.6M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.5799	−0.016%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.5780	−0.089%	$21K	$5K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0157% / S −12.8912%	1h	2.5810	+0.028%	$1K	—	100x	as long as short