Funding you earn now, next payment 00:00 UTC−0.1021%/8h= −111.8% APRpaid last 24h −0.265%
Price spread now: Deribit against OKX−0.136%46s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$31 a day on $10k at the current rate, and Deribit is 0.136% cheaper against OKX than usual: you would sell low and buy high (−$14 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 46 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 | 2.6475 | 0.0100 | pay 0.0050% / 4h | 33m 33s | $3.2M | $4.5M | 20x |
| Short | Deribit MORPHO_USDC-PERPETUAL | 2.6439 | −0.0921 | pay 0.0115% / 1h | 33m 33s | $11K | $812 | 10x |
OKX MORPHO-USDT-SWAP
Deribit MORPHO_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$214.44
- Price spread: −0.136% → 0.000%
- −$13.6
- Slippage, 4 orders
- no order book: not counted
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$245.04
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: OKX: live order book, 4 min ago; Deribit: no order-book sample. 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 OKX live order book, 4 min ago | 0.75 bp | 22.7 bp −$23 | doesn't fit | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.1758% | 1h | 2.6445 | −0.113% | $82K | $140K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUALshort | −0.0921% | 1h | 2.6439 | −0.136% | $11K | $812 | 10x | |
| 01 Exchange MORPHOUSD | −0.0912% | 1h | 2.6397 | −0.295% | $867 | $12K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0536% | 4h | 2.6479 | +0.016% | $29K | $134K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0529% | 1h | 2.6468 | −0.026% | $26K | $1.7M | 5x | as long as short |
| Injective MORPHO/USDC PERP | −0.0405% | 1h | 2.6430 | −0.170% | $37 | $242K | 5.5x | as long as short |
| Bybit MORPHOUSDT | −0.0388% | 4h | 2.6470 | −0.019% | $8.4M | $9.2M | 25x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0360% | 1h | 2.6508 | +0.125% | $76K | $43K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0195% | 4h | 2.6445 | −0.113% | $638K | $252K | 20x | as long as short |
| Variational Omni MORPHO | −0.0145% | 4h | 2.6472 | −0.011% | $629K | $1.0M | — | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Polymarket Perps MORPHO-USD
Injective MORPHO/USDC PERP
Bybit MORPHOUSDT
Coinbase International MORPHO-PERP-INTX
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 | −0.0145% | 4h | 2.6432 | −0.162% | $10K | $34K | 10x | as long as short |
| Gate MORPHO_USDT | −0.0108% | 4h | 2.6474 | −0.004% | $769K | $532K | 50x | as long as short |
| Phoenix MORPHO | −0.0060% | 1h | 2.6522 | +0.178% | $43K | $477K | 5x | as long as short |
| Binance MORPHOUSDT | −0.0009% | 4h | 2.6468 | −0.026% | $16.0M | $25.9M | 75x | as long as short |
| Extended MORPHO-USD | −0.0008% | 1h | 2.6452 | −0.087% | $103K | $298K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6470 | −0.020% | $16 | — | 10x | as long as short |
| MEXC MORPHO_USDT | −0.0004% | 4h | 2.6466 | −0.034% | $5.5M | $951K | 100x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6488 | +0.047% | $315K | $331K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6441 | −0.127% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6541 | +0.249% | $6.2M | $7.0M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6478 | +0.012% | $58K | $31K | 20x | as long as short |
| OKX MORPHO-USDT-SWAPlong | +0.0100% | 4h | 2.6475 | long leg | $3.2M | $4.5M | 20x | |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6475 | 0.000% | $593K | $270K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6478 | +0.011% | $2.9M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6465 | −0.038% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6440 | −0.132% | $22K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0154% / S −0.2700% | 1h | 2.6460 | −0.056% | $1K | — | 100x | as long as short |
Orderly PERP_MORPHO_USDC
Gate MORPHO_USDT
Phoenix MORPHO
Binance MORPHOUSDT
Extended MORPHO-USD
Reya MORPHORUSDPERP
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]