MORPHO

Alert

Funding spread now, next payment 18:00 UTC−0.1034%/8h

paid, last 24h+0.137%paid, last 7 days−0.050%to open and close $10k−$136

The current rate is far above what this pair has been paying: over the last 7 days it paid -0.050% in total (about -2.6% 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	2.6794	0.0100	pay 0.0050% / 4h	2h 14m	$3.2M	$4.8M	20x
Short	Kraken Futures PF_MORPHOUSD	2.6762	−0.0934	pay 0.0117% / 1h	14m 00s	$85K	$169K	20x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee OKXbpFee Kraken FuturesbpOrdersRate

Funding earned: −$217.06
Slippage, 4 orders: −$115.97
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$353.03
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Kraken Futures: live order book, 25 min ago.

Price risk

price view

Price gap now: −0.118%
Avg gap 7d: +0.023%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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, 5 min ago	1.68 bp	15.4 bp −$15	162.5 bp −$1,625	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 25 min ago	17.85 bp	73.3 bp −$73	165.5 bp −$1,655	doesn't fit	doesn't fit

MORPHO on 26 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Kraken Futures PF_MORPHOUSDshort	−0.0934%	1h	$85K	$169K	20x
Deribit MORPHO_USDC-PERPETUAL	−0.0906%	1h	$10K	$745	10x	as long as short
01 Exchange MORPHOUSD	−0.0872%	1h	$879	$11K	5x	as long as short
Gate MORPHO_USDT	−0.0702%	4h	$766K	$548K	50x	as long as short
Polymarket Perps MORPHO-USD	−0.0444%	1h	$28K	$2.7M	5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0336%	1h	$78K	$48K	25x	as long as short
BloFin MORPHO-USDT	−0.0232%	4h	$669K	$205K	20x	as long as short
Bybit MORPHOUSDT	−0.0207%	4h	$8.9M	$10.4M	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0197%	4h	$10K	$34K	10x	as long as short
Phoenix MORPHO	−0.0059%	1h	$35K	$517K	5x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Reya MORPHORUSDPERP	−0.0004%	1h	$16	—	10x	as long as short
Binance MORPHOUSDT	+0.0007%	4h	$16.5M	$28.4M	75x	as long as short
Extended MORPHO-USD	+0.0008%	1h	$101K	$304K	10x	as long as short
MEXC MORPHO_USDT	+0.0008%	4h	$4.8M	$1.2M	100x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	$38	$34K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	$315K	$367K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0099%	8h	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	$6.4M	$8.0M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	$59K	$31K	20x	as long as short
OKX MORPHO-USDT-SWAPlong	+0.0100%	4h	$3.2M	$4.8M	20x
KuCoin MORPHOUSDTM	+0.0100%	4h	$597K	$369K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	$2.9M	$2.2M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	—	$1.5M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	$655K	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	$22K	$2K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0158% / S −0.0698%	1h	$2K	—	100x	as long as short