Funding you earn now, next payment 00:00 UTC−0.0047%/8h= −5.1% APRnext payment −$0.23 per $10,000 · paid last 24h 0.000%
Price spread now: Binance against OKX−0.030%7-day average −0.041% · you buy dearer than you sell
Net, funding: paid 7d − costs−$63as in the Funding arb table
Net, price: spread back to 7d avg − costs−$61as in the Price arb table
costs, in and out, $10k−$620.625% of the position
Funding, last 7 days−0.001%$0 on $10k
+Price spread, last 7 days−0.018%−$2 · spread now −0.030%, 7d avg −0.041%
=The price spread sits at its 7-day average of −0.041%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX MORPHO-USDT-SWAP | 2.6497 | 0.0100 | pay 0.0050% / 4h | 11m 18s | $3.2M | $4.5M | 20x |
| Short | Binance MORPHOUSDT | 2.6489 | 0.0053 | get 0.0027% / 4h | 11m 18s | $16.0M | $26.0M | 75x |
OKX MORPHO-USDT-SWAP
Binance MORPHOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against OKX. 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
- −$9.82
- Price spread: −0.030% → −0.041%
- $1.13
- Slippage, 4 orders
- −$42.46
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$71.15
- Costs to cover
- 0.625%
- Break-even
- never at this rate
Slippage from OKX: live order book, 1 min ago; Binance: live order book, 15 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 OKX live order book, 1 min ago | 1.51 bp | 17.8 bp −$18 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 15 min ago | 0.94 bp | 10.9 bp −$11 | 19.9 bp −$199 | 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 | −0.1756% | 1h | 2.6477 | −0.075% | $81K | $143K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.0840% | 1h | 2.6452 | −0.170% | $869 | $12K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0655% | 1h | 2.6500 | +0.011% | $11K | $812 | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0461% | 1h | 2.6497 | 0.000% | $28K | $1.7M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0460% | 4h | 2.6511 | +0.052% | $41K | $146K | 10x | as long as short |
| Injective MORPHO/USDC PERP | −0.0405% | 1h | 2.6430 | −0.253% | $37 | $242K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0360% | 1h | 2.6555 | +0.219% | $76K | $43K | 25x | as long as short |
| Bybit MORPHOUSDT | −0.0336% | 4h | 2.6503 | +0.023% | $8.4M | $9.3M | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0195% | 4h | 2.6493 | −0.015% | $636K | $253K | 20x | as long as short |
| Variational Omni MORPHO | −0.0167% | 4h | 2.6481 | −0.060% | $630K | $1.0M | — | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
Bybit MORPHOUSDT
BloFin MORPHO-USDT
Variational Omni MORPHOShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_MORPHO_USDC | −0.0147% | 4h | 2.6491 | −0.023% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0060% | 1h | 2.6531 | +0.128% | $43K | $477K | 5x | as long as short |
| Gate MORPHO_USDT | −0.0058% | 4h | 2.6536 | +0.147% | $771K | $532K | 50x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6489 | −0.030% | $16 | — | 10x | as long as short |
| MEXC MORPHO_USDT | +0.0046% | 4h | 2.6491 | −0.023% | $5.5M | $961K | 100x | as long as short |
| Binance MORPHOUSDTshort | +0.0053% | 4h | 2.6489 | −0.030% | $16.0M | $26.0M | 75x | |
| Extended MORPHO-USD | +0.0056% | 1h | 2.6492 | −0.021% | $103K | $298K | 10x | as long as short |
| Aster MORPHOUSDT | +0.0090% | 4h | 2.6509 | +0.044% | $58K | $30K | 20x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6544 | +0.178% | $316K | $331K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6485 | −0.045% | $5K | $3 | 5x | as long as short |
| OKX MORPHO-USDT-SWAPlong | +0.0100% | 4h | 2.6497 | long leg | $3.2M | $4.5M | 20x | |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6540 | +0.162% | $594K | $268K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6535 | +0.143% | $2.9M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6511 | +0.053% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6485 | −0.045% | $22K | $4K | 5x | as long as short |
| Hyperliquid MORPHO | +0.0108% | 1h | 2.6567 | +0.264% | $6.3M | $7.0M | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0158% / S −0.3418% | 1h | 2.6519 | +0.084% | $1K | — | 100x | as long as short |
Orderly PERP_MORPHO_USDC
Phoenix MORPHO
Gate MORPHO_USDT
Reya MORPHORUSDPERP
MEXC MORPHO_USDT
Extended MORPHO-USD
Aster MORPHOUSDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
Hyperliquid MORPHO
GMX MORPHO/USD [ETH-USDC]