Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against BingX+0.089%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$680.679% of the position

Long on BingX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%$0 on $10k

Price spread, last 7 days−0.047%−$5 · spread now +0.089%, 7d avg +0.002%

Together, before fees−0.052%−$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.087% dearer against BingX than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX MORPHO-USDT	2.5835	0.0100	pay 0.0050% / 4h	3h 51m	—	$1.4M	—
Short	OKX MORPHO-USDT-SWAP	2.5858	0.0100	get 0.0050% / 4h	3h 51m	$3.2M	$4.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BingXbpFee OKXbpOrdersPrice spread, now +0.089%Rate

Funding earned: $0
Price spread: +0.089% → +0.002%: $8.69
Slippage, 4 orders: −$47.87
Fee BingX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$59.18
Costs to cover: 0.679%
Break-even: never at this rate

Slippage from BingX: live order book, 9 min ago; OKX: live order book, 1 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 BingX live order book, 9 min ago	2.13 bp	11.7 bp −$12	32.1 bp −$321	382.5 bp −$38.2K	704.5 bp −$352.3K
Sell OKX live order book, 1 min ago	1.94 bp	23.6 bp −$24	105.4 bp −$1,054	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	−0.2467%	1h	2.5768	−0.259%	$84K	$134K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1336%	1h	2.5802	−0.128%	$11K	$3K	10x	as long as short
01 Exchange MORPHOUSD	−0.0880%	1h	2.5807	−0.108%	$848	$9K	5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0552%	1h	2.5579	−0.991%	$70K	$37K	25x	as long as short
Variational Omni MORPHO	−0.0458%	4h	2.5776	−0.229%	$614K	$526K	—	as long as short
BloFin MORPHO-USDT	−0.0411%	4h	2.5777	−0.225%	$630K	$238K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0278%	4h	2.5805	−0.116%	$10K	$34K	10x	as long as short
GRVT MORPHO_USDT_Perp	−0.0206%	4h	2.5780	−0.213%	$30K	$123K	10x	as long as short
Aster MORPHOUSDT	−0.0201%	4h	2.5832	−0.010%	$54K	$49K	20x	as long as short
Extended MORPHO-USD	−0.0168%	1h	2.5811	−0.093%	$99K	$375K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC MORPHO_USDT	−0.0166%	4h	2.5835	0.000%	$6.3M	$910K	100x	as long as short
Binance MORPHOUSDT	−0.0165%	4h	2.5834	−0.004%	$15.5M	$23.9M	75x	as long as short
Phoenix MORPHO	−0.0155%	1h	2.5835	0.000%	$33K	$308K	5x	as long as short
Gate MORPHO_USDT	−0.0072%	4h	2.5817	−0.070%	$759K	$484K	50x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.5842	+0.026%	$16	—	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+2.303%	$37	$242K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	2.5861	+0.101%	$312K	$283K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.5822	−0.051%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.5893	+0.225%	$6.0M	$7.0M	5x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.5856	+0.081%	$7.8M	$8.4M	25x	as long as short
OKX MORPHO-USDT-SWAPshort	+0.0100%	4h	2.5858	+0.089%	$3.2M	$4.1M	20x
KuCoin MORPHOUSDTM	+0.0100%	4h	2.5841	+0.023%	$588K	$264K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.5834	−0.004%	$2.8M	$1.6M	75x	as long as short
BingX MORPHO-USDTlong	+0.0100%	4h	2.5835	long leg	—	$1.4M	—
Polymarket Perps MORPHO-USD	+0.0100%	1h	2.5870	+0.135%	$25K	$1.4M	5x	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.5800	−0.135%	$21K	$5K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0157% / S −12.8912%	1h	2.5842	+0.025%	$1K	—	100x	as long as short