Funding you earn now, next payment 04:00 UTC+0.0080%/8h= +8.8% APRnext payment +$0.40 per $10,000 · paid last 24h +0.032%
Price spread now: GRVT against BloFin−0.195%102s7-day average −0.066% · you buy dearer than you sell
Net, funding: paid 7d − costs−$145as 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−$700.703% of the position
Funding, last 7 days−0.750%−$75 on $10k
+Price spread, last 4 days (all we have)+0.075%+$7 · spread now −0.195%, 7d avg −0.066%
=Together, before fees−0.675%+ Points / potential airdropGRVT: Active · farm board−$68 on $10k · with fees, hour by hour
Funding pays, the price is against you. GRVT is 0.129% cheaper against BloFin than usual: you would sell low and buy high (spread −0.195% now, against its 7-day average of −0.066%). If the spread goes back, that is −$13 on $10k: about 5.4 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.750%, so the current rate has only just turned in your favour. The two prices were read 102 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 | BloFin MORPHO-USDT | 2.6128 | −0.0200 | get 0.0100% / 4h | 1h 43m | $638K | $242K | 20x |
| Short | GRVT MORPHO_USDT_Perp | 2.6077 | −0.0120 | pay 0.0060% / 4h | 1h 43m | $32K | $142K | 10x |
BloFin MORPHO-USDT
GRVT MORPHO_USDT_PerpFunding history
latest
Range statsloading…
Price spread between the two exchanges
GRVT against BloFin. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $16.8
- Price spread: −0.195% → −0.066%
- −$12.89
- Slippage, 4 orders
- −$49.28
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Net
- −$66.38
- Costs to cover
- 0.703%
- Break-even
- 34.7 days
Slippage from BloFin: live order book, 83 min ago; GRVT: live order book, 19 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 BloFin live order book, 83 min ago | 3.94 bp | 14.4 bp −$14 | 34.6 bp −$346 | doesn't fit | doesn't fit |
| Sell GRVT live order book, 19 min ago | 1.33 bp | 30.2 bp −$30 | 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 | −0.1676% | 1h | 2.6153 | +0.095% | $81K | $128K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0933% | 1h | 2.6180 | +0.199% | $11K | $955 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0560% | 1h | 2.6115 | −0.050% | $858 | $9K | 5x | as long as short |
| BloFin MORPHO-USDTlong | −0.0200% | 4h | 2.6128 | long leg | $638K | $242K | 20x | |
| Coinbase International MORPHO-PERP-INTX | −0.0192% | 1h | 2.6327 | +0.762% | $75K | $42K | 25x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0157% | 4h | 2.6166 | +0.145% | $10K | $34K | 10x | as long as short |
| GRVT MORPHO_USDT_Perpshort | −0.0120% | 4h | 2.6077 | −0.195% | $32K | $142K | 10x | |
| Polymarket Perps MORPHO-USD | −0.0074% | 1h | 2.6156 | +0.107% | $25K | $1.8M | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6149 | +0.082% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | 0.0000% | 1h | 2.6097 | −0.119% | $43K | $392K | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Coinbase International MORPHO-PERP-INTX
Orderly PERP_MORPHO_USDC
Polymarket Perps MORPHO-USD
Reya MORPHORUSDPERP
Phoenix MORPHOShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +1.156% | $37 | $242K | 5.5x | as long as short |
| Gate MORPHO_USDT | +0.0040% | 4h | 2.6159 | +0.119% | $754K | $503K | 50x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6174 | +0.175% | $314K | $308K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6170 | +0.162% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6203 | +0.288% | $6.1M | $7.0M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6138 | +0.038% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6154 | +0.100% | $15.8M | $25.7M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6164 | +0.138% | $8.3M | $9.4M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6202 | +0.283% | $3.2M | $4.4M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6152 | +0.092% | $5.8M | $840K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6161 | +0.126% | $595K | $254K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6184 | +0.214% | $2.8M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6159 | +0.119% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6105 | −0.086% | $622K | $907K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6174 | +0.176% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6158 | +0.116% | $101K | $350K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6182 | +0.208% | $1K | — | 100x | as long as short |
Injective MORPHO/USDC PERP
Gate MORPHO_USDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]