Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+12.8097%/8h= +14026.6% APRpaid last 24h +5.795%

Price spread now: GMX against Aster−0.011%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Aster Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3,843 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MORPHOUSDT	2.6503	0.0100	pay 0.0050% / 4h	1h 41m	$58K	$33K	20x
Short	GMX MORPHO/USD [ETH-USDC]	2.6500	L +0.0188% / S −12.8197%	get 1.6025% / 1h	41m 42s	$1K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Aster. 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 AsterbpFee GMXbpOrdersPrice spread, now −0.011%Rate

Funding earned: $26,900.29
Price spread: −0.011% → 0.000%: −$1.06
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: $26,879.23
Costs to cover: 0.200%
Break-even: 0.0 days

Slippage unknown: Aster: no order-book sample; GMX: no order-book sample. 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 Aster no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Aster and GMX: 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	−0.1855%	1h	2.6458	−0.170%	$83K	$150K	20x	as long as short
01 Exchange MORPHOUSD	−0.1152%	1h	2.6408	−0.359%	$868	$13K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1147%	1h	2.6457	−0.174%	$11K	$911	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0608%	1h	2.6463	−0.152%	$26K	$1.7M	5x	as long as short
Bybit MORPHOUSDT	−0.0588%	4h	2.6500	−0.012%	$8.5M	$9.5M	25x	as long as short
GRVT MORPHO_USDT_Perp	−0.0572%	4h	2.6428	−0.284%	$29K	$146K	10x	as long as short
Injective MORPHO/USDC PERP	−0.0337%	1h	2.6430	−0.276%	$37	$242K	5.5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0312%	1h	2.6427	−0.288%	$76K	$43K	25x	as long as short
BloFin MORPHO-USDT	−0.0178%	4h	2.6433	−0.265%	$642K	$244K	20x	as long as short
Gate MORPHO_USDT	−0.0166%	4h	2.6479	−0.091%	$771K	$530K	50x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_MORPHO_USDC	−0.0155%	4h	2.6451	−0.197%	$10K	$34K	10x	as long as short
Phoenix MORPHO	−0.0090%	1h	2.6468	−0.133%	$34K	$484K	5x	as long as short
Variational Omni MORPHO	−0.0014%	4h	2.6447	−0.210%	$628K	$1.2M	—	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6466	−0.140%	$16	—	10x	as long as short
Binance MORPHOUSDT	+0.0086%	4h	2.6475	−0.108%	$16.1M	$26.1M	75x	as long as short
Extended MORPHO-USD	+0.0088%	1h	2.6457	−0.173%	$103K	$301K	10x	as long as short
MEXC MORPHO_USDT	+0.0088%	4h	2.6478	−0.095%	$5.2M	$1.1M	100x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6519	+0.060%	$315K	$333K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6451	−0.195%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6536	+0.124%	$6.2M	$7.1M	5x	as long as short
Aster MORPHOUSDTlong	+0.0100%	4h	2.6503	long leg	$58K	$33K	20x
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6483	−0.076%	$3.2M	$4.4M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6480	−0.088%	$619K	$263K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6480	−0.088%	$2.9M	$1.9M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6482	−0.080%	—	$1.5M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6454	−0.186%	$22K	$3K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]short	L +0.0188% / S −12.8197%	1h	2.6500	−0.011%	$1K	—	100x