Funding you earn now, next payment 00:00 UTC−0.0300%/8h= −32.9% APRnext payment −$1.50 per $10,000 · paid last 24h −0.060%
Price spread now: BloFin against OKX+0.730%73s7-day average −0.020% · you sell dearer than you buy
Net, funding: paid 7d − costs−$31as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$710.707% of the position
Funding, last 7 days+0.400%+$40 on $10k
+Price spread, last 3 days (all we have)−0.925%−$93 · spread now +0.730%, 7d avg −0.020%
=The price spread pays, funding is against you. BloFin is 0.750% dearer against OKX than usual: you sell high and buy low (spread +0.730% now, against its 7-day average of −0.020%): +$75 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 8.3 days. Mind the row above: over the last 7 days funding on this pair paid +0.400%, so the current rate has only just turned against you. The two prices were read 73 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 | OKX MORPHO-USDT-SWAP | 2.6429 | 0.0100 | pay 0.0050% / 4h | 2h 50m | $3.2M | $4.5M | 20x |
| Short | BloFin MORPHO-USDT | 2.6622 | −0.0200 | pay 0.0100% / 4h | 2h 50m | $652K | $205K | 20x |
OKX MORPHO-USDT-SWAP
BloFin MORPHO-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin 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
- −$63
- Price spread: +0.730% → −0.020%
- $75.03
- Slippage, 4 orders
- −$48.72
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$58.69
- Costs to cover
- 0.707%
- Break-even
- from the start
Slippage from OKX: live order book, 3 min ago; BloFin: live order book, 36 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, 3 min ago | 1.13 bp | 19.6 bp −$20 | 153.3 bp −$1,533 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 36 min ago | 3.34 bp | 10.3 bp −$10 | 26.4 bp −$264 | 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 | −0.2068% | 1h | 2.6360 | −0.261% | $82K | $148K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1563% | 1h | 2.6429 | 0.000% | $11K | $911 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.1320% | 1h | 2.6530 | +0.382% | $872 | $12K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0646% | 4h | 2.6664 | +0.890% | $41K | $151K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0596% | 1h | 2.6584 | +0.586% | $25K | $1.9M | 5x | as long as short |
| Injective MORPHO/USDC PERP | −0.0385% | 1h | 2.6670 | +0.912% | $38K | $142K | 5.5x | as long as short |
| Bybit MORPHOUSDT | −0.0300% | 4h | 2.6428 | −0.004% | $8.6M | $10.1M | 25x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0296% | 1h | 2.6445 | +0.061% | $76K | $46K | 25x | as long as short |
| Gate MORPHO_USDT | −0.0252% | 4h | 2.6414 | −0.057% | $755K | $520K | 50x | as long as short |
| BloFin MORPHO-USDTshort | −0.0200% | 4h | 2.6622 | +0.730% | $652K | $205K | 20x |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Polymarket Perps MORPHO-USD
Injective MORPHO/USDC PERP
Bybit MORPHOUSDT
Coinbase International MORPHO-PERP-INTX
Gate MORPHO_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_MORPHO_USDC | −0.0194% | 4h | 2.6446 | +0.064% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6664 | +0.889% | $34K | $493K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6498 | +0.263% | $16 | — | 10x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6439 | +0.037% | $315K | $335K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6580 | +0.572% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6463 | +0.129% | $6.2M | $7.2M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6451 | +0.085% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6420 | −0.034% | $16.2M | $27.0M | 75x | as long as short |
| OKX MORPHO-USDT-SWAPlong | +0.0100% | 4h | 2.6429 | long leg | $3.2M | $4.5M | 20x | |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6401 | −0.106% | $5.3M | $1.1M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6408 | −0.079% | $596K | $266K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6423 | −0.023% | $2.9M | $2.0M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6433 | +0.015% | — | $1.5M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6630 | +0.761% | $647K | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6400 | −0.110% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6437 | +0.029% | $103K | $301K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6449 | +0.074% | $1K | — | 100x | as long as short |
Orderly PERP_MORPHO_USDC
Phoenix MORPHO
Reya MORPHORUSDPERP
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]