MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0676%/8h= −74.0% APRnext payment −$3.38 per $10,000 · paid last 24h −0.042%

Price spread now: GRVT against BingX+0.008%7-day average −0.061% · you sell dearer than you buy

Net, funding: paid 7d − costs−$124as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$860.864% of the position

Long on BingX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.378%−$38 on $10k

Price spread, last 3 days (all we have)−0.035%−$4 · spread now +0.008%, 7d avg −0.061%

Together, before fees−0.413%+ Points / potential airdropGRVT: Active · farm board−$41 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GRVT is 0.070% dearer against BingX than usual: you sell high and buy low (spread +0.008% now, against its 7-day average of −0.061%): +$7 on $10k if it goes back. Holding the pair costs −$20 a day in funding at the current rate, which eats that in about 8 hours. At the pace of the last 7 days (−0.378% in total) that is about 31 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.378% in total (about -19.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.38 per $10,000. 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	BingX MORPHO-USDT	2.6442	0.0100	pay 0.0050% / 4h	1h 39m	—	$1.5M	—
Short	GRVT MORPHO_USDT_Perp	2.6444	−0.0576	pay 0.0288% / 4h	1h 39m	$29K	$146K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against BingX. 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 BingXbpFee GRVTbpOrdersPrice spread, now +0.008%Rate

Funding earned: −$141.96
Price spread: +0.008% → −0.061%: $6.96
Slippage, 4 orders: −$67.42
Fee BingX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$221.43
Costs to cover: 0.864%
Break-even: never at this rate

Slippage from BingX: live order book, 8 min ago; GRVT: live order book, 42 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 BingX live order book, 8 min ago	2.08 bp	15.6 bp −$16	31.9 bp −$319	315.7 bp −$31.6K	730.1 bp −$365.0K
Sell GRVT live order book, 42 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	−0.1857%	1h	2.6429	−0.051%	$82K	$150K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1261%	1h	2.6433	−0.034%	$11K	$911	10x	as long as short
01 Exchange MORPHOUSD	−0.1152%	1h	2.6352	−0.340%	$866	$13K	5x	as long as short
Polymarket Perps MORPHO-USD	−0.0639%	1h	2.6422	−0.076%	$26K	$1.7M	5x	as long as short
Bybit MORPHOUSDT	−0.0611%	4h	2.6440	−0.008%	$8.5M	$9.4M	25x	as long as short
GRVT MORPHO_USDT_Perpshort	−0.0576%	4h	2.6444	+0.008%	$29K	$146K	10x
Injective MORPHO/USDC PERP	−0.0337%	1h	2.6430	−0.045%	$37	$242K	5.5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0312%	1h	2.6427	−0.057%	$76K	$43K	25x	as long as short
BloFin MORPHO-USDT	−0.0206%	4h	2.6412	−0.113%	$640K	$244K	20x	as long as short
Gate MORPHO_USDT	−0.0162%	4h	2.6475	+0.125%	$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	−0.0154%	4h	2.6437	−0.019%	$10K	$34K	10x	as long as short
Phoenix MORPHO	−0.0090%	1h	2.6514	+0.272%	$34K	$484K	5x	as long as short
Variational Omni MORPHO	−0.0040%	4h	2.6477	+0.132%	$629K	$1.2M	—	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6430	−0.047%	$16	—	10x	as long as short
Binance MORPHOUSDT	+0.0079%	4h	2.6422	−0.074%	$16.1M	$26.0M	75x	as long as short
Extended MORPHO-USD	+0.0080%	1h	2.6427	−0.056%	$103K	$301K	10x	as long as short
MEXC MORPHO_USDT	+0.0082%	4h	2.6420	−0.083%	$5.2M	$1.1M	100x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6475	+0.123%	$315K	$333K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6415	−0.104%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6490	+0.182%	$6.2M	$7.1M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6466	+0.091%	$58K	$33K	20x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6453	+0.042%	$3.2M	$4.4M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6454	+0.045%	$618K	$263K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6425	−0.064%	$2.9M	$1.9M	75x	as long as short
BingX MORPHO-USDTlong	+0.0100%	4h	2.6442	long leg	—	$1.5M	—
SoDEX MORPHO-USD	+0.0100%	1h	2.6426	−0.061%	$22K	$3K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0188% / S −12.8197%	1h	2.6468	+0.100%	$1K	—	100x	as long as short