MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0644%/8h= −70.5% APRnext payment −$3.22 per $10,000 · paid last 24h −0.042%

Price spread now: GRVT against Bitget+0.058%103s7-day average −0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$130as 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−$930.925% of the position

Long on Bitget 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)+0.006%+$1 · spread now +0.058%, 7d avg −0.022%

Together, before fees−0.372%+ Points / potential airdropGRVT: Active · farm board−$37 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GRVT is 0.080% dearer against Bitget than usual: you sell high and buy low (spread +0.058% now, against its 7-day average of −0.022%): +$8 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 10 hours. At the pace of the last 7 days (−0.378% in total) that is about 36 hours. The two prices were read 103 seconds apart, so part of this spread may be the market moving, not a spread.

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 −$3.22 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	Bitget MORPHOUSDT	2.6505	0.0100	pay 0.0050% / 4h	1h 57m	$2.9M	$1.9M	75x
Short	GRVT MORPHO_USDT_Perp	2.6520	−0.0544	pay 0.0272% / 4h	1h 57m	$29K	$154K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.058%Rate

Funding earned: −$135.24
Price spread: +0.058% → −0.022%: $7.99
Slippage, 4 orders: −$71.55
Fee Bitget: 6 bp × 2 orders: −$12
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$219.79
Costs to cover: 0.925%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; GRVT: live order book, 24 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 Bitget live order book, 5 min ago	3.58 bp	16.0 bp −$16	74.1 bp −$741	doesn't fit	doesn't fit
Sell GRVT live order book, 24 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	−0.1854%	1h	2.6466	−0.145%	$83K	$148K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1483%	1h	2.6493	−0.045%	$11K	$911	10x	as long as short
01 Exchange MORPHOUSD	−0.1280%	1h	2.6428	−0.291%	$868	$13K	5x	as long as short
Polymarket Perps MORPHO-USD	−0.0719%	1h	2.6488	−0.064%	$26K	$1.8M	5x	as long as short
Bybit MORPHOUSDT	−0.0665%	4h	2.6500	−0.019%	$8.6M	$9.6M	25x	as long as short
GRVT MORPHO_USDT_Perpshort	−0.0544%	4h	2.6520	+0.058%	$29K	$154K	10x
Injective MORPHO/USDC PERP	−0.0337%	1h	2.6610	+0.396%	$37	$198K	5.5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0312%	1h	2.6617	+0.423%	$77K	$45K	25x	as long as short
Gate MORPHO_USDT	−0.0224%	4h	2.6495	−0.038%	$772K	$530K	50x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6513	+0.030%	$646K	$246K	20x	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	−0.0164%	4h	2.6495	−0.038%	$10K	$34K	10x	as long as short
Phoenix MORPHO	−0.0030%	1h	2.6546	+0.155%	$34K	$463K	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6504	−0.003%	$16	—	10x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6570	+0.247%	$316K	$333K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6483	−0.084%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6553	+0.180%	$6.2M	$7.2M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6542	+0.141%	$58K	$33K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6487	−0.067%	$16.2M	$26.3M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6509	+0.015%	$3.2M	$4.4M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6488	−0.064%	$5.5M	$1.0M	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6545	+0.151%	$620K	$266K	50x	as long as short
Bitget MORPHOUSDTlong	+0.0100%	4h	2.6505	long leg	$2.9M	$1.9M	75x
BingX MORPHO-USDT	+0.0100%	4h	2.6510	+0.019%	—	$1.5M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6529	+0.091%	$644K	$1.2M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6496	−0.034%	$22K	$3K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6487	−0.067%	$103K	$301K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0188% / S −12.8197%	1h	2.6526	+0.078%	$1K	—	100x	as long as short