Funding you earn now, next payment 22:00 UTC+0.0485%/8h= +53.1% APRpaid last 24h +0.029%
Price spread now: OKX against Injective−0.301%68s7-day average −1.087% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−1.173%−$117 on $10k
+Price spread, last 3 days (all we have)−0.689%−$69 · spread now −0.301%, 7d avg −1.087%
=Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and OKX is 0.786% dearer against Injective than usual: you sell high and buy low: +$79 more if the spread goes back to its 7-day average of −1.087%. Mind the row above: over the last 7 days funding on this pair cost −1.173%, so the current rate has only just turned in your favour. The two prices were read 68 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 | Injective MORPHO/USDC PERP | 2.6610 | −0.0385 | get 0.0048% / 1h | 10m 11s | $37 | $198K | 5.5x |
| Short | OKX MORPHO-USDT-SWAP | 2.6530 | 0.0100 | get 0.0050% / 4h | 2h 10m | $3.2M | $4.4M | 20x |
Injective MORPHO/USDC PERP
OKX MORPHO-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against Injective. 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
- $101.78
- Price spread: −0.301% → −1.087%
- $78.6
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- $170.36
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Injective: no order-book sample; OKX: live order book, 2 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 Injective no order-book sample | — | — | — | — | — |
| Sell OKX live order book, 2 min ago | 1.51 bp | 21.7 bp −$22 | 117.7 bp −$1,177 | doesn't fit | doesn't fit |
Injective: 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 | −0.2057% | 1h | 2.6506 | −0.390% | $83K | $148K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1557% | 1h | 2.6512 | −0.368% | $11K | $911 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0896% | 1h | 2.6448 | −0.609% | $869 | $13K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0455% | 1h | 2.6538 | −0.271% | $26K | $1.8M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0400% | 4h | 2.6507 | −0.387% | $29K | $154K | 10x | as long as short |
| Injective MORPHO/USDC PERPlong | −0.0385% | 1h | 2.6610 | long leg | $37 | $198K | 5.5x | |
| Bybit MORPHOUSDT | −0.0374% | 4h | 2.6522 | −0.331% | $8.6M | $9.8M | 25x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0296% | 1h | 2.6617 | +0.026% | $77K | $46K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6505 | −0.395% | $648K | $221K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0170% | 4h | 2.6519 | −0.342% | $10K | $34K | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Bybit MORPHOUSDT
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_USDT | −0.0166% | 4h | 2.6525 | −0.319% | $773K | $548K | 50x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6540 | −0.263% | $34K | $493K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6532 | −0.295% | $16 | — | 10x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6560 | −0.188% | $316K | $337K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6508 | −0.385% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6585 | −0.094% | $6.2M | $7.2M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6558 | −0.195% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6519 | −0.342% | $16.2M | $26.7M | 75x | as long as short |
| OKX MORPHO-USDT-SWAPshort | +0.0100% | 4h | 2.6530 | −0.301% | $3.2M | $4.4M | 20x | |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6514 | −0.361% | $5.5M | $1.2M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6534 | −0.286% | $622K | $269K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6529 | −0.304% | $2.9M | $1.9M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6532 | −0.293% | — | $1.5M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6494 | −0.435% | $644K | $1.2M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6515 | −0.357% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6504 | −0.400% | $103K | $301K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6562 | −0.181% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Phoenix MORPHO
Reya MORPHORUSDPERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance 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]