Funding you earn now, next payment 04:00 UTC+0.0300%/8h= +32.9% APRnext payment +$1.50 per $10,000 · paid last 24h +0.090%
Price spread now: OKX against BloFin+0.291%7-day average +0.017% · you sell dearer than you buy
Net, funding: paid 7d − costs−$104as in the Funding arb table
Net, price: spread back to 7d avg − costs−$40as in the Price arb table
costs, in and out, $10k−$670.674% of the position
Funding, last 7 days−0.370%−$37 on $10k
+Price spread, last 3 days (all we have)−0.172%−$17 · spread now +0.291%, 7d avg +0.017%
=Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and OKX is 0.274% dearer against BloFin than usual: you sell high and buy low: +$27 more if the spread goes back to its 7-day average of +0.017%. Mind the row above: over the last 7 days funding on this pair cost −0.370%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BloFin MORPHO-USDT | 2.6468 | −0.0200 | get 0.0100% / 4h | 3h 34m | $639K | $233K | 20x |
| Short | OKX MORPHO-USDT-SWAP | 2.6545 | 0.0100 | get 0.0050% / 4h | 3h 34m | $3.2M | $4.5M | 20x |
BloFin MORPHO-USDT
OKX MORPHO-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against BloFin. 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
- $63
- Price spread: +0.291% → +0.017%
- $27.39
- Slippage, 4 orders
- −$45.42
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- $22.97
- Costs to cover
- 0.674%
- Break-even
- 4.4 days
Slippage from BloFin: live order book, 37 min ago; OKX: live order book, 3 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 BloFin live order book, 37 min ago | 0.19 bp | 16.7 bp −$17 | 33.1 bp −$331 | doesn't fit | doesn't fit |
| Sell OKX live order book, 3 min ago | 1.88 bp | 21.4 bp −$21 | 82.8 bp −$828 | 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 | −0.1836% | 1h | 2.6480 | +0.045% | $80K | $132K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0919% | 1h | 2.6496 | +0.106% | $11K | $785 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0432% | 1h | 2.6534 | +0.249% | $872 | $13K | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0280% | 1h | 2.6488 | +0.076% | $76K | $43K | 25x | as long as short |
| BloFin MORPHO-USDTlong | −0.0200% | 4h | 2.6468 | long leg | $639K | $233K | 20x | |
| Variational Omni MORPHO | −0.0192% | 4h | 2.6501 | +0.124% | $630K | $1.0M | — | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0143% | 4h | 2.6484 | +0.060% | $10K | $34K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0110% | 1h | 2.6489 | +0.079% | $28K | $1.7M | 5x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6538 | +0.264% | $43K | $474K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6489 | +0.080% | $16 | — | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Coinbase International MORPHO-PERP-INTX
Variational Omni MORPHO
Orderly PERP_MORPHO_USDC
Polymarket Perps MORPHO-USD
Phoenix MORPHO
Reya MORPHORUSDPERPShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit MORPHOUSDT | +0.0013% | 4h | 2.6546 | +0.295% | $8.4M | $9.2M | 25x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | −0.144% | $37 | $242K | 5.5x | as long as short |
| GRVT MORPHO_USDT_Perp | +0.0064% | 4h | 2.6465 | −0.013% | $41K | $133K | 10x | as long as short |
| Gate MORPHO_USDT | +0.0094% | 4h | 2.6503 | +0.132% | $768K | $516K | 50x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6578 | +0.414% | $318K | $325K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6539 | +0.267% | $5K | $3 | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6504 | +0.137% | $58K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6540 | +0.272% | $16.1M | $25.8M | 75x | as long as short |
| OKX MORPHO-USDT-SWAPshort | +0.0100% | 4h | 2.6545 | +0.291% | $3.2M | $4.5M | 20x | |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6541 | +0.276% | $5.5M | $903K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6550 | +0.310% | $594K | $265K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6552 | +0.317% | $2.9M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6543 | +0.283% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6495 | +0.102% | $22K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6534 | +0.248% | $101K | $446K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −0.4126% | 1h | 2.6506 | +0.145% | $1K | — | 100x | as long as short |
| Hyperliquid MORPHO | +0.0394% | 1h | 2.6575 | +0.404% | $6.3M | $7.0M | 5x | as long as short |
Bybit MORPHOUSDT
Injective MORPHO/USDC PERP
GRVT MORPHO_USDT_Perp
Gate MORPHO_USDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Aster MORPHOUSDT
Binance MORPHOUSDT
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]
Hyperliquid MORPHO