MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0196%/8h= +21.4% APRnext payment +$0.98 per $10,000 · paid last 24h +0.015%

Price spread now: OKX against Binance+0.009%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$680.681% of the position

Long on Binance Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.021%+$2 on $10k

Price spread, last 7 days+0.053%+$5 · spread now +0.009%, 7d avg +0.043%

Together, before fees+0.074%+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.034% cheaper against Binance than usual: you would sell low and buy high (spread +0.009% now, against its 7-day average of +0.043%). If the spread goes back, that is −$3 on $10k: about 14 hours of funding at the current rate (+$6 a day). At the pace of the last 7 days (+0.021% in total) that is about 11 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.021% in total (about 1.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.98 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	Binance MORPHOUSDT	2.6174	−0.0096	get 0.0048% / 4h	3h 03m	$15.7M	$23.2M	75x
Short	OKX MORPHO-USDT-SWAP	2.6176	0.0100	get 0.0050% / 4h	3h 03m	$3.2M	$4.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Binance. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BinancebpFee OKXbpOrdersPrice spread, now +0.009%Rate

Funding earned: $41.06
Price spread: +0.009% → +0.043%: −$3.36
Slippage, 4 orders: −$48.09
Fee Binance: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$30.39
Costs to cover: 0.681%
Break-even: 12.2 days

Slippage from Binance: live order book, 8 min ago; OKX: live order book, 4 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 Binance live order book, 8 min ago	0.38 bp	18.1 bp −$18	43.3 bp −$433	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.38 bp	16.3 bp −$16	doesn't fit	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	−0.2429%	1h	2.6170	−0.014%	$85K	$126K	20x	as long as short
01 Exchange MORPHOUSD	−0.0696%	1h	2.6153	−0.079%	$859	$9K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0628%	1h	2.6175	+0.005%	$11K	$3K	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0552%	1h	2.4354	−6.952%	$66K	$36K	25x	as long as short
BloFin MORPHO-USDT	−0.0346%	4h	2.6119	−0.209%	$635K	$232K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0323%	4h	2.6161	−0.048%	$10K	$34K	10x	as long as short
Aster MORPHOUSDT	−0.0297%	4h	2.6172	−0.005%	$57K	$50K	20x	as long as short
Variational Omni MORPHO	−0.0245%	4h	2.6076	−0.374%	$621K	$526K	—	as long as short
GRVT MORPHO_USDT_Perp	−0.0182%	4h	2.6118	−0.212%	$39K	$136K	10x	as long as short
Phoenix MORPHO	−0.0155%	1h	2.6137	−0.140%	$33K	$308K	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended MORPHO-USD	−0.0104%	1h	2.6185	+0.042%	$104K	$373K	10x	as long as short
MEXC MORPHO_USDT	−0.0102%	4h	2.6188	+0.055%	$6.5M	$937K	100x	as long as short
Binance MORPHOUSDTlong	−0.0096%	4h	2.6174	long leg	$15.7M	$23.2M	75x
Reya MORPHORUSDPERP	−0.0005%	1h	2.6157	−0.063%	$16	—	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+0.980%	$37	$242K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6275	+0.388%	$316K	$284K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6186	+0.049%	$5K	$203	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6203	+0.112%	$6.0M	$7.0M	5x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6185	+0.043%	$8.0M	$8.3M	25x	as long as short
OKX MORPHO-USDT-SWAPshort	+0.0100%	4h	2.6176	+0.009%	$3.2M	$4.1M	20x
Gate MORPHO_USDT	+0.0100%	4h	2.6202	+0.108%	$768K	$490K	50x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6190	+0.063%	$578K	$269K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6157	−0.063%	$2.8M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6182	+0.032%	—	$1.4M	—	as long as short
Polymarket Perps MORPHO-USD	+0.0100%	1h	2.6195	+0.082%	$26K	$1.3M	5x	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6165	−0.033%	$21K	$5K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0202% / S −17.1882%	1h	2.6191	+0.065%	$1K	—	100x	as long as short