Funding you earn now, next payment 04:00 UTC+0.0272%/8h= +29.8% APRpaid last 24h +0.083%
Price spread now: OKX against Polymarket Perps+0.042%7-day average +0.002% · you sell dearer than you buy
Net, funding: paid 7d − costs−$31as in the Funding arb table
Net, price: spread back to 7d avg − costs−$52as in the Price arb table
costs, in and out, $10k−$560.559% of the position
Funding, last 7 days+0.247%+$25 on $10k
+Price spread, last 7 days+0.015%+$2 · spread now +0.042%, 7d avg +0.002%
=Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and OKX is 0.040% dearer against Polymarket Perps than usual: you sell high and buy low: +$4 more if the spread 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 | Polymarket Perps MORPHO-USD | 2.6107 | −0.0172 | get 0.0022% / 1h | 20m 52s | $25K | $1.6M | 5x |
| Short | OKX MORPHO-USDT-SWAP | 2.6118 | 0.0100 | get 0.0050% / 4h | 20m 52s | $3.2M | $4.2M | 20x |
Polymarket Perps MORPHO-USD
OKX MORPHO-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against Polymarket Perps. 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
- $57.12
- Price spread: +0.042% → +0.002%
- $4.04
- Slippage, 4 orders
- −$37.9
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- $5.26
- Costs to cover
- 0.559%
- Break-even
- 6.4 days
Slippage from Polymarket Perps: live order book, 3 min ago; OKX: 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 Polymarket Perps live order book, 3 min ago | 2.30 bp | 8.9 bp −$9 | 9.9 bp −$99 | doesn't fit | doesn't fit |
| Sell OKX live order book, 2 min ago | 1.91 bp | 15.7 bp −$16 | 93.8 bp −$938 | 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 | −0.1661% | 1h | 2.6078 | −0.112% | $81K | $127K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1281% | 1h | 2.6093 | −0.054% | $11K | $1K | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0968% | 1h | 2.6025 | −0.314% | $855 | $9K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0262% | 4h | 2.6107 | 0.000% | $34K | $140K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0224% | 1h | 2.6294 | +0.716% | $75K | $41K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6068 | −0.149% | $638K | $241K | 20x | as long as short |
| Polymarket Perps MORPHO-USDlong | −0.0172% | 1h | 2.6107 | long leg | $25K | $1.6M | 5x | |
| Orderly PERP_MORPHO_USDC | −0.0148% | 4h | 2.6089 | −0.069% | $10K | $34K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.6099 | −0.030% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | 0.0000% | 1h | 2.6164 | +0.218% | $43K | $370K | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
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 | +1.237% | $37 | $242K | 5.5x | as long as short |
| Gate MORPHO_USDT | +0.0038% | 4h | 2.6125 | +0.069% | $765K | $483K | 50x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6123 | +0.061% | $314K | $309K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6066 | −0.157% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6143 | +0.138% | $6.1M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6124 | +0.063% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6106 | −0.004% | $15.8M | $24.9M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6101 | −0.023% | $8.2M | $8.8M | 25x | as long as short |
| OKX MORPHO-USDT-SWAPshort | +0.0100% | 4h | 2.6118 | +0.042% | $3.2M | $4.2M | 20x | |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6089 | −0.069% | $5.9M | $832K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6123 | +0.061% | $595K | $252K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6118 | +0.042% | $2.8M | $1.7M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6110 | +0.011% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6090 | −0.064% | $622K | $675K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6105 | −0.008% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6082 | −0.095% | $100K | $348K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6119 | +0.046% | $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]