Funding you earn now, next payment 00:00 UTC−0.0220%/8h= −24.1% APRnext payment −$1.10 per $10,000 · paid last 24h −0.086%
Price spread now: Gate against OKX+0.008%7-day average −0.036% · you sell dearer than you buy
Net, funding: paid 7d − costs−$144as in the Funding arb table
Net, price: spread back to 7d avg − costs−$119as in the Price arb table
costs, in and out, $10k−$1241.235% of the position
Funding, last 7 days−0.204%−$20 on $10k
+Price spread, last 4 days (all we have)−0.083%−$8 · spread now +0.008%, 7d avg −0.036%
=The price spread pays, funding is against you. Gate is 0.044% dearer against OKX than usual: you sell high and buy low (spread +0.008% now, against its 7-day average of −0.036%): +$4 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 16 hours. At the pace of the last 7 days (−0.204% in total) that is about 36 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX MORPHO-USDT-SWAP | 2.6436 | 0.0100 | pay 0.0050% / 4h | 1h 01m | $3.2M | $4.4M | 20x |
| Short | Gate MORPHO_USDT | 2.6438 | −0.0120 | pay 0.0060% / 4h | 1h 01m | $768K | $534K | 50x |
OKX MORPHO-USDT-SWAP
Gate MORPHO_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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
- −$46.2
- Price spread: +0.008% → −0.036%
- $4.37
- Slippage, 4 orders
- −$98.51
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$165.34
- Costs to cover
- 1.235%
- Break-even
- never at this rate
Slippage from OKX: live order book, 1 min ago; Gate: 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 | 0.38 bp | 20.1 bp −$20 | doesn't fit | doesn't fit | doesn't fit |
| Sell Gate live order book, 15 min ago | 5.48 bp | 39.4 bp −$39 | doesn't fit | 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 | −0.1859% | 1h | 2.6397 | −0.147% | $81K | $152K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.1168% | 1h | 2.6364 | −0.272% | $866 | $12K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0922% | 1h | 2.6420 | −0.061% | $11K | $812 | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0676% | 1h | 2.6424 | −0.045% | $24K | $1.7M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0576% | 4h | 2.6390 | −0.174% | $29K | $134K | 10x | as long as short |
| Bybit MORPHOUSDT | −0.0419% | 4h | 2.6440 | +0.015% | $8.4M | $9.3M | 25x | as long as short |
| Injective MORPHO/USDC PERP | −0.0337% | 1h | 2.6430 | −0.023% | $37 | $242K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0312% | 1h | 2.6442 | +0.023% | $76K | $43K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0224% | 4h | 2.6420 | −0.061% | $640K | $249K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0145% | 4h | 2.6410 | −0.098% | $10K | $34K | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Bybit MORPHOUSDT
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDCShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDTshort | −0.0120% | 4h | 2.6438 | +0.008% | $768K | $534K | 50x | |
| Phoenix MORPHO | −0.0090% | 1h | 2.6435 | −0.004% | $43K | $484K | 5x | as long as short |
| Variational Omni MORPHO | −0.0080% | 4h | 2.6401 | −0.131% | $627K | $1.2M | — | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6423 | −0.049% | $16 | — | 10x | as long as short |
| Extended MORPHO-USD | +0.0016% | 1h | 2.6420 | −0.062% | $103K | $301K | 10x | as long as short |
| Binance MORPHOUSDT | +0.0016% | 4h | 2.6421 | −0.057% | $16.1M | $25.8M | 75x | as long as short |
| MEXC MORPHO_USDT | +0.0016% | 4h | 2.6423 | −0.049% | $5.4M | $1.1M | 100x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6453 | +0.064% | $315K | $334K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6419 | −0.064% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6479 | +0.163% | $6.2M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6426 | −0.036% | $58K | $31K | 20x | as long as short |
| OKX MORPHO-USDT-SWAPlong | +0.0100% | 4h | 2.6436 | long leg | $3.2M | $4.4M | 20x | |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6436 | 0.000% | $591K | $269K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6429 | −0.026% | $2.9M | $1.9M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6430 | −0.023% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6415 | −0.079% | $22K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −0.3373% | 1h | 2.6447 | +0.043% | $1K | — | 100x | as long as short |
Phoenix MORPHO
Variational Omni MORPHO
Reya MORPHORUSDPERP
Extended MORPHO-USD
Binance MORPHOUSDT
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]