Funding you earn now, next payment 04:00 UTC+0.1110%/8h= +121.5% APRpaid last 24h +0.272%
Price spread now: OKX against Deribit−0.023%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
Funding pays, the price is against you. OKX is 0.023% cheaper against Deribit than usual: you would sell low and buy high (spread −0.023% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 2 hours of funding at the current rate (+$33 a day). 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 | Deribit MORPHO_USDC-PERPETUAL | 2.6158 | −0.1010 | get 0.0126% / 1h | 24m 39s | $11K | $1K | 10x |
| Short | OKX MORPHO-USDT-SWAP | 2.6152 | 0.0100 | get 0.0050% / 4h | 24m 39s | $3.2M | $4.2M | 20x |
Deribit MORPHO_USDC-PERPETUAL
OKX MORPHO-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against Deribit. 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
- $233.09
- Price spread: −0.023% → 0.000%
- −$2.29
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- $213.8
- Costs to cover
- 0.170%
- Break-even
- 0.6 days
Slippage unknown: Deribit: no order-book sample; OKX: live order book, 3 min ago. 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 Deribit no order-book sample | — | — | — | — | — |
| Sell OKX live order book, 3 min ago | 1.72 bp | 14.6 bp −$15 | 91.2 bp −$912 | doesn't fit | doesn't fit |
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 | −0.1659% | 1h | 2.6118 | −0.153% | $81K | $127K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUALlong | −0.1010% | 1h | 2.6158 | long leg | $11K | $1K | 10x | |
| 01 Exchange MORPHOUSD | −0.0976% | 1h | 2.6082 | −0.291% | $857 | $9K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0260% | 4h | 2.6158 | −0.002% | $34K | $140K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0224% | 1h | 2.6294 | +0.520% | $75K | $41K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6146 | −0.046% | $636K | $242K | 20x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0186% | 1h | 2.6177 | +0.073% | $25K | $1.6M | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0146% | 4h | 2.6146 | −0.046% | $10K | $34K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.6155 | −0.011% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | 0.0000% | 1h | 2.6250 | +0.352% | $43K | $370K | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Polymarket Perps MORPHO-USD
Orderly PERP_MORPHO_USDC
Reya MORPHORUSDPERP
Phoenix MORPHOShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +1.040% | $37 | $242K | 5.5x | as long as short |
| Gate MORPHO_USDT | +0.0036% | 4h | 2.6155 | −0.011% | $766K | $483K | 50x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6152 | −0.022% | $314K | $309K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6122 | −0.137% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6161 | +0.011% | $6.1M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6149 | −0.033% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6114 | −0.169% | $15.8M | $24.9M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6126 | −0.122% | $8.2M | $8.8M | 25x | as long as short |
| OKX MORPHO-USDT-SWAPshort | +0.0100% | 4h | 2.6152 | −0.023% | $3.2M | $4.2M | 20x | |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6129 | −0.111% | $5.9M | $831K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6141 | −0.065% | $596K | $252K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6081 | −0.294% | $2.8M | $1.7M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6117 | −0.157% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6125 | −0.126% | $623K | $689K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6152 | −0.023% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6117 | −0.157% | $100K | $348K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6179 | +0.079% | $1K | — | 100x | as long as short |
Injective MORPHO/USDC PERP
Gate MORPHO_USDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit 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]