MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.3621%/8h= +396.5% APRnext payment +$4.53 per $10,000 · paid last 24h +6.101%

Price spread now: GMX against Deribit+0.080%7-day average — · you sell dearer than you buy

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

Long on Deribit 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

Both sides work for this trade now. Funding pays +$109 a day on $10k at the current rate, and GMX is 0.080% dearer against Deribit than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MORPHO_USDC-PERPETUAL	2.6439	−0.0921	get 0.0115% / 1h	33m 43s	$11K	$812	10x
Short	GMX MORPHO/USD [ETH-USDC]	2.6460	L +0.0154% / S −0.2700%	get 0.0337% / 1h	33m 43s	$1K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Deribit. 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 DeribitbpFee GMXbpOrdersPrice spread, now +0.080%Rate

Funding earned: $760.36
Price spread: +0.080% → 0.000%: $8.04
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee GMX: 6 bp × 2 orders: −$12
Net: $749.41
Costs to cover: 0.190%
Break-even: 0.1 days

Slippage unknown: Deribit: no order-book sample; 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 Deribit no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Deribit and 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	−0.1758%	1h	2.6445	+0.023%	$82K	$140K	20x	as long as short
Deribit MORPHO_USDC-PERPETUALlong	−0.0921%	1h	2.6439	long leg	$11K	$812	10x
01 Exchange MORPHOUSD	−0.0912%	1h	2.6397	−0.159%	$867	$12K	5x	as long as short
Polymarket Perps MORPHO-USD	−0.0546%	1h	2.6428	−0.042%	$26K	$1.7M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0536%	4h	2.6479	+0.152%	$29K	$134K	10x	as long as short
Injective MORPHO/USDC PERP	−0.0405%	1h	2.6430	−0.034%	$37	$242K	5.5x	as long as short
Bybit MORPHOUSDT	−0.0388%	4h	2.6450	+0.042%	$8.4M	$9.2M	25x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0360%	1h	2.6508	+0.261%	$76K	$43K	25x	as long as short
BloFin MORPHO-USDT	−0.0195%	4h	2.6445	+0.023%	$638K	$252K	20x	as long as short
Variational Omni MORPHO	−0.0145%	4h	2.6472	+0.125%	$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	2.6432	−0.026%	$10K	$34K	10x	as long as short
Gate MORPHO_USDT	−0.0108%	4h	2.6474	+0.132%	$769K	$532K	50x	as long as short
Phoenix MORPHO	−0.0060%	1h	2.6522	+0.314%	$43K	$477K	5x	as long as short
Binance MORPHOUSDT	−0.0009%	4h	2.6449	+0.038%	$16.0M	$25.9M	75x	as long as short
Extended MORPHO-USD	−0.0008%	1h	2.6452	+0.049%	$103K	$298K	10x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6432	−0.025%	$16	—	10x	as long as short
MEXC MORPHO_USDT	−0.0004%	4h	2.6455	+0.061%	$5.5M	$949K	100x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6488	+0.183%	$315K	$331K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6441	+0.009%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6514	+0.284%	$6.2M	$7.0M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6478	+0.148%	$58K	$31K	20x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6475	+0.136%	$3.2M	$4.5M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6475	+0.136%	$593K	$270K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6478	+0.148%	$2.9M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6465	+0.098%	—	$1.5M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6440	+0.004%	$22K	$4K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]short	L +0.0154% / S −0.2700%	1h	2.6460	+0.080%	$1K	—	100x