Funding you earn now, next payment 04:00 UTC−0.0088%/8h= −9.6% APRnext payment −$0.44 per $10,000 · paid last 24h −0.025%
Price spread now: GRVT against Bybit+0.060%70s7-day average −0.100% · you sell dearer than you buy
Net, funding: paid 7d − costs−$119as 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
Funding, last 7 days−0.321%−$32 on $10k
+Price spread, last 4 days (all we have)+0.361%+$36 · spread now +0.060%, 7d avg −0.100%
=Together, before fees+0.040%+ Points / potential airdropGRVT: Active · farm board+$4 on $10k · with fees, hour by hour
The price spread pays, funding is against you. GRVT is 0.160% dearer against Bybit than usual: you sell high and buy low (spread +0.060% now, against its 7-day average of −0.100%): +$16 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 6.0 days. The two prices were read 70 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 | Bybit MORPHOUSDT | 2.6249 | 0.0100 | pay 0.0050% / 4h | 2h 10m | $8.3M | $9.3M | 25x |
| Short | GRVT MORPHO_USDT_Perp | 2.6265 | 0.0012 | get 0.0006% / 4h | 2h 10m | $32K | $142K | 10x |
Bybit MORPHOUSDT
GRVT MORPHO_USDT_PerpFunding history
latest
Range statsloading…
Price spread between the two exchanges
GRVT against Bybit. 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
- −$18.48
- Price spread: +0.060% → −0.100%
- $15.96
- Slippage, 4 orders
- −$66.74
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Net
- −$89.26
- Costs to cover
- 0.867%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 3 min ago; GRVT: live order book, 57 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 Bybit live order book, 3 min ago | 3.81 bp | 20.7 bp −$21 | 71.0 bp −$710 | doesn't fit | doesn't fit |
| Sell GRVT live order book, 57 min ago | 1.69 bp | 19.3 bp −$19 | doesn't fit | doesn't fit | doesn't fit |
MORPHO on 26 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 | −0.1913% | 1h | 2.6182 | −0.255% | $80K | $128K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0702% | 1h | 2.6225 | −0.091% | $11K | $785 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0440% | 1h | 2.6211 | −0.145% | $861 | $9K | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0232% | 1h | 2.6379 | +0.495% | $76K | $42K | 25x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0151% | 4h | 2.6227 | −0.084% | $10K | $34K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0108% | 1h | 2.6239 | −0.038% | $28K | $1.8M | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6231 | −0.067% | $16 | — | 10x | as long as short |
| GRVT MORPHO_USDT_Perpshort | +0.0012% | 4h | 2.6265 | +0.060% | $32K | $142K | 10x | |
| Phoenix MORPHO | +0.0030% | 1h | 2.6291 | +0.160% | $43K | $426K | 5x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +0.690% | $37 | $242K | 5.5x | 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 MORPHO
Injective MORPHO/USDC PERPShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | +0.0076% | 4h | 2.6266 | +0.065% | $765K | $507K | 50x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6294 | +0.171% | $315K | $319K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6240 | −0.034% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6290 | +0.156% | $6.2M | $7.0M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6264 | +0.056% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6228 | −0.082% | $15.9M | $25.4M | 75x | as long as short |
| Bybit MORPHOUSDTlong | +0.0100% | 4h | 2.6249 | long leg | $8.3M | $9.3M | 25x | |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6232 | −0.065% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6250 | +0.004% | $5.6M | $918K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6276 | +0.103% | $596K | $252K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6258 | +0.034% | $2.9M | $1.7M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6248 | −0.004% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6255 | +0.024% | $626K | $912K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6215 | −0.130% | $22K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6209 | −0.151% | $101K | $355K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6246 | −0.010% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance 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]