Funding you earn now, next payment 08:00 UTC−0.0513%/8h= −56.2% APRpaid last 24h −0.090%
Price spread now: Polymarket Perps against OKX−0.012%7-day average −0.002% · you buy dearer than you sell
Net, funding: paid 7d − costs−$79as in the Funding arb table
Net, price: spread back to 7d avg − costs−$54as in the Price arb table
costs, in and out, $10k−$530.528% of the position
Funding, last 7 days−0.257%−$26 on $10k
+Price spread, last 7 days−0.089%−$9 · spread now −0.012%, 7d avg −0.002%
=The price spread sits at its 7-day average of −0.002%, so right now this pair is about funding alone: −$15 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.257% in total (about -13.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX MORPHO-USDT-SWAP | 2.5795 | 0.0100 | pay 0.0050% / 4h | 14m 33s | $3.2M | $4.1M | 20x |
| Short | Polymarket Perps MORPHO-USD | 2.5792 | −0.0413 | pay 0.0052% / 1h | 14m 33s | $27K | $1.4M | 5x |
OKX MORPHO-USDT-SWAP
Polymarket Perps MORPHO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket Perps 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
- −$107.76
- Price spread: −0.012% → −0.002%
- −$1.01
- Slippage, 4 orders
- −$34.82
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$161.58
- Costs to cover
- 0.528%
- Break-even
- never at this rate
Slippage from OKX: live order book, 3 min ago; Polymarket Perps: live order book, 4 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 | 0.58 bp | 19.2 bp −$19 | doesn't fit | doesn't fit | doesn't fit |
| Sell Polymarket Perps live order book, 4 min ago | 1.94 bp | 7.1 bp −$7 | 7.2 bp −$72 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit MORPHO_USDC-PERPETUAL | −0.1532% | 1h | 2.5773 | −0.085% | $11K | $3K | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.1480% | 1h | 2.5720 | −0.291% | $845 | $9K | 5x | as long as short |
| Kraken Futures PF_MORPHOUSD | −0.1239% | 1h | 2.5742 | −0.206% | $84K | $133K | 20x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0704% | 4h | 2.5772 | −0.089% | $30K | $135K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0496% | 1h | 2.5791 | −0.016% | $71K | $37K | 25x | as long as short |
| Bybit MORPHOUSDT | −0.0494% | 4h | 2.5809 | +0.054% | $7.9M | $8.4M | 25x | as long as short |
| Polymarket Perps MORPHO-USDshort | −0.0413% | 1h | 2.5792 | −0.012% | $27K | $1.4M | 5x | |
| BloFin MORPHO-USDT | −0.0388% | 4h | 2.5761 | −0.132% | $630K | $238K | 20x | as long as short |
| Variational Omni MORPHO | −0.0378% | 4h | 2.5786 | −0.035% | $614K | $526K | — | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0235% | 4h | 2.5768 | −0.105% | $10K | $34K | 10x | as long as short |
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Kraken Futures PF_MORPHOUSD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
Bybit MORPHOUSDT
BloFin MORPHO-USDT
Variational Omni MORPHO
Orderly PERP_MORPHO_USDCShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix MORPHO | −0.0185% | 1h | 2.5801 | +0.023% | $33K | $336K | 5x | as long as short |
| Extended MORPHO-USD | −0.0152% | 1h | 2.5773 | −0.085% | $99K | $375K | 10x | as long as short |
| Binance MORPHOUSDT | −0.0148% | 4h | 2.5784 | −0.044% | $15.5M | $24.1M | 75x | as long as short |
| MEXC MORPHO_USDT | −0.0148% | 4h | 2.5781 | −0.054% | $6.2M | $908K | 100x | as long as short |
| Gate MORPHO_USDT | −0.0140% | 4h | 2.5793 | −0.008% | $759K | $506K | 50x | as long as short |
| Aster MORPHOUSDT | −0.0081% | 4h | 2.5790 | −0.020% | $54K | $48K | 20x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.5764 | −0.120% | $15 | — | 10x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +2.462% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.5817 | +0.087% | $311K | $288K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5794 | −0.006% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.5826 | +0.120% | $5.9M | $7.0M | 5x | as long as short |
| OKX MORPHO-USDT-SWAPlong | +0.0100% | 4h | 2.5795 | long leg | $3.2M | $4.1M | 20x | |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.5791 | −0.016% | $587K | $264K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5782 | −0.050% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5789 | −0.023% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.5765 | −0.116% | $21K | $5K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0157% / S −12.8912% | 1h | 2.5804 | +0.035% | $1K | — | 100x | as long as short |
Phoenix MORPHO
Extended MORPHO-USD
Binance MORPHOUSDT
MEXC MORPHO_USDT
Gate MORPHO_USDT
Aster MORPHOUSDT
Reya MORPHORUSDPERP
Injective MORPHO/USDC PERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]