Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.3318%/8h= +363.3% APRpaid last 24h +5.836%

Price spread now: GMX against Bitget+0.008%7-day average — · you sell dearer than you buy

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

Long on Bitget 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—needs 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: +$100 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MORPHOUSDT	2.6527	0.0100	pay 0.0050% / 4h	16m 13s	$2.9M	$1.8M	75x
Short	GMX MORPHO/USD [ETH-USDC]	2.6529	L +0.0158% / S −0.3418%	get 0.0427% / 1h	16m 13s	$1K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bitget. 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 BitgetbpFee GMXbpOrdersPrice spread, now +0.008%Rate

Funding earned: $696.8
Price spread: +0.008% → 0.000%: $0.78
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $673.57
Costs to cover: 0.240%
Break-even: 0.2 days

Slippage unknown: Bitget: live order book, 1 min ago; 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 Bitget live order book, 1 min ago	3.58 bp	25.7 bp −$26	83.0 bp −$830	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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	−0.1754%	1h	2.6508	−0.072%	$81K	$143K	20x	as long as short
01 Exchange MORPHOUSD	−0.0856%	1h	2.6474	−0.200%	$870	$12K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0730%	1h	2.6509	−0.068%	$11K	$812	10x	as long as short
GRVT MORPHO_USDT_Perp	−0.0490%	4h	2.6537	+0.038%	$41K	$145K	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0462%	1h	2.6507	−0.075%	$28K	$1.7M	5x	as long as short
Injective MORPHO/USDC PERP	−0.0405%	1h	2.6430	−0.366%	$37	$242K	5.5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0360%	1h	2.6555	+0.106%	$76K	$43K	25x	as long as short
Bybit MORPHOUSDT	−0.0347%	4h	2.6499	−0.106%	$8.4M	$9.2M	25x	as long as short
BloFin MORPHO-USDT	−0.0209%	4h	2.6538	+0.041%	$637K	$253K	20x	as long as short
Variational Omni MORPHO	−0.0165%	4h	2.6511	−0.060%	$629K	$1.0M	—	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	−0.0145%	4h	2.6502	−0.094%	$10K	$34K	10x	as long as short
Gate MORPHO_USDT	−0.0072%	4h	2.6511	−0.060%	$771K	$532K	50x	as long as short
Phoenix MORPHO	−0.0060%	1h	2.6556	+0.109%	$44K	$477K	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6503	−0.091%	$16	—	10x	as long as short
MEXC MORPHO_USDT	+0.0030%	4h	2.6507	−0.075%	$5.5M	$961K	100x	as long as short
Extended MORPHO-USD	+0.0032%	1h	2.6500	−0.103%	$103K	$298K	10x	as long as short
Binance MORPHOUSDT	+0.0036%	4h	2.6505	−0.084%	$16.0M	$26.0M	75x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6555	+0.104%	$316K	$331K	5x	as long as short
Aster MORPHOUSDT	+0.0097%	4h	2.6515	−0.044%	$58K	$30K	20x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6528	+0.003%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6576	+0.185%	$6.3M	$7.0M	5x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6502	−0.094%	$3.2M	$4.5M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6532	+0.019%	$594K	$268K	50x	as long as short
Bitget MORPHOUSDTlong	+0.0100%	4h	2.6527	long leg	$2.9M	$1.8M	75x
BingX MORPHO-USDT	+0.0100%	4h	2.6506	−0.079%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6511	−0.060%	$22K	$4K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]short	L +0.0158% / S −0.3418%	1h	2.6529	+0.008%	$1K	—	100x