Funding you earn now, next payment 00:00 UTC+0.0380%/8h= +41.6% APRpaid last 24h −0.037%
Price spread now: OKX against Coinbase International−0.370%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.172%−$17 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Funding pays, the price is against you. OKX is 0.370% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.370% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$37 on $10k: about 3.2 days of funding at the current rate (+$11 a day). Mind the row above: over the last 7 days funding on this pair cost −0.172%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.172% in total (about -9.0% 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 | Coinbase International MORPHO-PERP-INTX | 2.6743 | −0.0280 | get 0.0035% / 1h | 5m 58s | $77K | $43K | 25x |
| Short | OKX MORPHO-USDT-SWAP | 2.6644 | 0.0100 | get 0.0050% / 4h | 3h 05m | $3.2M | $4.3M | 20x |
Coinbase International MORPHO-PERP-INTX
OKX MORPHO-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against Coinbase International. 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
- $79.8
- Price spread: −0.370% → 0.000%
- −$37.02
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- $22.78
- Costs to cover
- 0.200%
- Break-even
- 5.0 days
Slippage unknown: Coinbase International: no order-book sample; OKX: live order book, 2 min ago. Net counts fees only.
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 Coinbase International no order-book sample | — | — | — | — | — |
| Sell OKX live order book, 2 min ago | 1.31 bp | 19.7 bp −$20 | 89.0 bp −$890 | doesn't fit | doesn't fit |
Coinbase International: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.1827% | 1h | 2.6608 | −0.504% | $80K | $125K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1212% | 1h | 2.6635 | −0.404% | $11K | $785 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0408% | 1h | 2.6625 | −0.441% | $875 | $13K | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTXlong | −0.0280% | 1h | 2.6743 | long leg | $77K | $43K | 25x | |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6687 | −0.209% | $606K | $233K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0146% | 4h | 2.6641 | −0.381% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6710 | −0.123% | $44K | $474K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6644 | −0.371% | $16 | — | 10x | as long as short |
| Polymarket Perps MORPHO-USD | +0.0008% | 1h | 2.6653 | −0.337% | $25K | $1.7M | 5x | as long as short |
| Variational Omni MORPHO | +0.0017% | 4h | 2.6640 | −0.385% | $635K | $926K | — | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDC
Phoenix MORPHO
Reya MORPHORUSDPERP
Polymarket Perps MORPHO-USD
Variational Omni 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 | −1.170% | $37 | $242K | 5.5x | as long as short |
| GRVT MORPHO_USDT_Perp | +0.0056% | 4h | 2.6686 | −0.214% | $41K | $133K | 10x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6758 | +0.055% | $320K | $325K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6658 | −0.319% | $5K | $3 | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6676 | −0.252% | $58K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6636 | −0.400% | $16.1M | $25.4M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6663 | −0.299% | $8.5M | $9.0M | 25x | as long as short |
| OKX MORPHO-USDT-SWAPshort | +0.0100% | 4h | 2.6644 | −0.370% | $3.2M | $4.3M | 20x | |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.6667 | −0.284% | $770K | $525K | 50x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6627 | −0.434% | $5.6M | $906K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6674 | −0.258% | $601K | $262K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6658 | −0.318% | $2.9M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6664 | −0.295% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6642 | −0.378% | $22K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6626 | −0.439% | $102K | $362K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0187% / S −0.4126% | 1h | 2.6663 | −0.300% | $1K | — | 100x | as long as short |
| Hyperliquid MORPHO | +0.0353% | 1h | 2.6708 | −0.131% | $6.3M | $7.0M | 5x | as long as short |
Injective MORPHO/USDC PERP
GRVT MORPHO_USDT_Perp
Lighter MORPHO
Paradex MORPHO-USD-PERP
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
Gate MORPHO_USDT
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]
Hyperliquid MORPHO