Funding you earn now, next payment 00:00 UTC−0.0697%/8h= −76.3% APRnext payment −$3.48 per $10,000 · paid last 24h −0.009%
Price spread now: Bybit against OKX+0.030%7-day average +0.050% · you sell dearer than you buy
Net, funding: paid 7d − costs−$78as in the Funding arb table
Net, price: spread back to 7d avg − costs−$77as in the Price arb table
costs, in and out, $10k−$750.751% of the position
Funding, last 7 days−0.026%−$3 on $10k
+Price spread, last 7 days+0.041%+$4 · spread now +0.030%, 7d avg +0.050%
=The price spread sits at its 7-day average of +0.050%, so right now this pair is about funding alone: −$21 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 -0.026% in total (about -1.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.48 per $10,000. 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 | 2.6374 | 0.0100 | pay 0.0050% / 4h | 1h 31m | $3.2M | $4.4M | 20x |
| Short | Bybit MORPHOUSDT | 2.6382 | −0.0597 | pay 0.0298% / 4h | 1h 31m | $8.5M | $9.4M | 25x |
OKX MORPHO-USDT-SWAP
Bybit MORPHOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$146.31
- Price spread: +0.030% → +0.050%
- −$1.97
- Slippage, 4 orders
- −$54.11
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$223.38
- Costs to cover
- 0.751%
- Break-even
- never at this rate
Slippage from OKX: live order book, 1 min ago; Bybit: live order book, 2 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 | 0.76 bp | 20.0 bp −$20 | 134.7 bp −$1,347 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 1.90 bp | 17.5 bp −$17 | 64.2 bp −$642 | 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 | −0.1862% | 1h | 2.6362 | −0.046% | $82K | $149K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1416% | 1h | 2.6371 | −0.011% | $11K | $812 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.1200% | 1h | 2.6327 | −0.178% | $865 | $13K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0706% | 1h | 2.6389 | +0.057% | $24K | $1.8M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0614% | 4h | 2.6383 | +0.034% | $29K | $146K | 10x | as long as short |
| Bybit MORPHOUSDTshort | −0.0597% | 4h | 2.6382 | +0.030% | $8.5M | $9.4M | 25x | |
| Injective MORPHO/USDC PERP | −0.0337% | 1h | 2.6430 | +0.212% | $37 | $242K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0312% | 1h | 2.6413 | +0.148% | $76K | $43K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0192% | 4h | 2.6372 | −0.008% | $640K | $244K | 20x | as long as short |
| Gate MORPHO_USDT | −0.0170% | 4h | 2.6396 | +0.083% | $767K | $533K | 50x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Gate MORPHO_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_MORPHO_USDC | −0.0152% | 4h | 2.6372 | −0.008% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0090% | 1h | 2.6435 | +0.231% | $34K | $484K | 5x | as long as short |
| Variational Omni MORPHO | −0.0086% | 4h | 2.6397 | +0.087% | $628K | $1.2M | — | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6376 | +0.009% | $16 | — | 10x | as long as short |
| Extended MORPHO-USD | +0.0048% | 1h | 2.6371 | −0.012% | $103K | $301K | 10x | as long as short |
| Binance MORPHOUSDT | +0.0048% | 4h | 2.6362 | −0.047% | $16.1M | $25.9M | 75x | as long as short |
| MEXC MORPHO_USDT | +0.0050% | 4h | 2.6377 | +0.011% | $5.4M | $1.1M | 100x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6406 | +0.119% | $314K | $334K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6392 | +0.070% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6441 | +0.254% | $6.2M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6404 | +0.114% | $57K | $31K | 20x | as long as short |
| OKX MORPHO-USDT-SWAPlong | +0.0100% | 4h | 2.6374 | long leg | $3.2M | $4.4M | 20x | |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6398 | +0.091% | $590K | $270K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6400 | +0.099% | $2.9M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6390 | +0.061% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6367 | −0.027% | $22K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6422 | +0.182% | $1K | — | 100x | as long as short |
Orderly PERP_MORPHO_USDC
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]