MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0450%/8h= −49.3% APRnext payment −$2.25 per $10,000 · paid last 24h −0.042%

Price spread now: GRVT against Binance−0.076%109s7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$123as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$870.867% of the position

Long on Binance Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.361%−$36 on $10k

Price spread, last 3 days (all we have)+0.139%+$14 · spread now −0.076%, 7d avg −0.027%

Together, before fees−0.223%+ Points / potential airdropGRVT: Active · farm board−$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and GRVT is 0.050% cheaper against Binance than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.027%). Swap the legs. The two prices were read 109 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MORPHOUSDT	2.6603	0.0100	pay 0.0050% / 4h	2h 17m	$16.3M	$26.8M	75x
Short	GRVT MORPHO_USDT_Perp	2.6583	−0.0350	pay 0.0175% / 4h	2h 17m	$30K	$154K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.076%Rate

Funding earned: −$94.5
Price spread: −0.076% → −0.027%: −$4.96
Slippage, 4 orders: −$67.72
Fee Binance: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$186.18
Costs to cover: 0.867%
Break-even: never at this rate

Slippage from Binance: live order book, 9 min ago; GRVT: 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, 9 min ago	0.19 bp	16.2 bp −$16	40.7 bp −$407	doesn't fit	doesn't fit
Sell GRVT live order book, 4 min ago	1.50 bp	34.5 bp −$35	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	−0.2050%	1h	2.6587	−0.060%	$83K	$148K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1400%	1h	2.6625	+0.083%	$11K	$911	10x	as long as short
01 Exchange MORPHOUSD	−0.0840%	1h	2.6585	−0.068%	$874	$12K	5x	as long as short
Injective MORPHO/USDC PERP	−0.0385%	1h	2.6610	+0.026%	$37	$198K	5.5x	as long as short
Polymarket Perps MORPHO-USD	−0.0383%	1h	2.6621	+0.068%	$26K	$1.8M	5x	as long as short
GRVT MORPHO_USDT_Perpshort	−0.0350%	4h	2.6583	−0.076%	$30K	$154K	10x
Coinbase International MORPHO-PERP-INTX	−0.0296%	1h	2.6617	+0.053%	$77K	$46K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6620	+0.064%	$645K	$223K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0170%	4h	2.6619	+0.060%	$10K	$34K	10x	as long as short
Gate MORPHO_USDT	−0.0070%	4h	2.6622	+0.071%	$763K	$523K	50x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit MORPHOUSDT	−0.0048%	4h	2.6622	+0.071%	$8.7M	$10.0M	25x	as long as short
Phoenix MORPHO	−0.0030%	1h	2.6655	+0.195%	$34K	$493K	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6626	+0.087%	$16	—	10x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6651	+0.179%	$317K	$336K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6614	+0.043%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6662	+0.222%	$6.3M	$7.2M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6617	+0.054%	$58K	$33K	20x	as long as short
Binance MORPHOUSDTlong	+0.0100%	4h	2.6603	long leg	$16.3M	$26.8M	75x
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6620	+0.064%	$3.2M	$4.5M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6605	+0.008%	$5.5M	$1.2M	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6647	+0.165%	$624K	$271K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6604	+0.004%	$2.9M	$2.0M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6632	+0.109%	—	$1.5M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6639	+0.134%	$647K	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6617	+0.053%	$22K	$3K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6607	+0.014%	$103K	$301K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0188% / S −12.8197%	1h	2.6647	+0.164%	$1K	—	100x	as long as short