Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.002%

Price spread now: OKX against MEXC+0.107%7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$530.529% of the position

Long on MEXC Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 on $10k

Price spread, last 7 days−0.053%−$5 · spread now +0.107%, 7d avg +0.045%

Together, before fees−0.042%−$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.061% dearer against MEXC than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC MORPHO_USDT	2.6265	0.0100	pay 0.0050% / 4h	2h 42m	$5.5M	$879K	100x
Short	OKX MORPHO-USDT-SWAP	2.6293	0.0100	get 0.0050% / 4h	2h 42m	$3.2M	$4.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against MEXC. 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 MEXCbpFee OKXbpOrdersPrice spread, now +0.107%Rate

Funding earned: $0
Price spread: +0.107% → +0.045%: $6.15
Slippage, 4 orders: −$38.9
Fee MEXC: 2 bp × 2 orders: −$4
Fee OKX: 5 bp × 2 orders: −$10
Net: −$46.75
Costs to cover: 0.529%
Break-even: never at this rate

Slippage from MEXC: live order book, 10 min ago; OKX: live order book, 5 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 MEXC live order book, 10 min ago	0.38 bp	5.2 bp −$5	40.3 bp −$403	196.5 bp −$19.7K	doesn't fit
Sell OKX live order book, 5 min ago	1.14 bp	20.4 bp −$20	101.5 bp −$1,015	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	−0.1905%	1h	2.6302	+0.139%	$80K	$126K	20x	as long as short
01 Exchange MORPHOUSD	−0.0568%	1h	2.6323	+0.221%	$865	$11K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0509%	1h	2.6346	+0.308%	$11K	$785	10x	as long as short
BloFin MORPHO-USDT	−0.0237%	4h	2.6347	+0.312%	$643K	$238K	20x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0232%	1h	2.6381	+0.442%	$76K	$42K	25x	as long as short
Polymarket Perps MORPHO-USD	−0.0165%	1h	2.6343	+0.297%	$36K	$1.8M	5x	as long as short
Orderly PERP_MORPHO_USDC	−0.0151%	4h	2.6324	+0.225%	$10K	$34K	10x	as long as short
GRVT MORPHO_USDT_Perp	−0.0084%	4h	2.6312	+0.177%	$32K	$142K	10x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6344	+0.302%	$16	—	10x	as long as short
Phoenix MORPHO	+0.0030%	1h	2.6363	+0.373%	$43K	$426K	5x	as long as short

Show 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	+0.628%	$37	$242K	5.5x	as long as short
Gate MORPHO_USDT	+0.0042%	4h	2.6327	+0.236%	$758K	$495K	50x	as long as short
Variational Omni MORPHO	+0.0082%	4h	2.6341	+0.289%	$627K	$924K	—	as long as short
Lighter MORPHO	+0.0096%	1h	2.6398	+0.507%	$316K	$319K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6266	+0.004%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6336	+0.270%	$6.2M	$6.9M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6317	+0.196%	$58K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6264	−0.004%	$15.9M	$25.2M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6284	+0.072%	$8.3M	$9.3M	25x	as long as short
OKX MORPHO-USDT-SWAPshort	+0.0100%	4h	2.6293	+0.107%	$3.2M	$4.3M	20x
MEXC MORPHO_USDTlong	+0.0100%	4h	2.6265	long leg	$5.5M	$879K	100x
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6311	+0.175%	$594K	$255K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6304	+0.148%	$2.9M	$1.7M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6278	+0.049%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6335	+0.267%	$22K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6270	+0.019%	$101K	$358K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0186% / S −0.4126%	1h	2.6359	+0.359%	$1K	—	100x	as long as short