MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0280%/8h= −30.7% APRnext payment −$1.40 per $10,000 · paid last 24h +0.044%

Price spread now: GRVT against Gate−0.147%81s7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$161as 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−$1451.454% of the position

Long on Gate Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.159%−$16 on $10k

Price spread, last 3 days (all we have)+0.245%+$24 · spread now −0.147%, 7d avg −0.025%

Together, before fees+0.086%+ Points / potential airdropGRVT: Active · farm board+$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and GRVT is 0.123% cheaper against Gate than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.025%). Swap the legs. The two prices were read 81 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 -0.159% in total (about -8.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.40 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	Gate MORPHO_USDT	2.6622	−0.0070	get 0.0035% / 4h	2h 18m	$763K	$523K	50x
Short	GRVT MORPHO_USDT_Perp	2.6583	−0.0350	pay 0.0175% / 4h	2h 18m	$30K	$154K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Gate. 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 GatebpFee GRVTbpOrdersPrice spread, now −0.147%Rate

Funding earned: −$58.8
Price spread: −0.147% → −0.025%: −$12.28
Slippage, 4 orders: −$121.38
Fee Gate: 7.5 bp × 2 orders: −$15
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$216.46
Costs to cover: 1.454%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; GRVT: live order book, 3 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 Gate live order book, 3 min ago	7.33 bp	44.6 bp −$45	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 3 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	−0.2050%	1h	2.6587	−0.132%	$83K	$148K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1400%	1h	2.6625	+0.011%	$11K	$911	10x	as long as short
01 Exchange MORPHOUSD	−0.0840%	1h	2.6585	−0.139%	$874	$12K	5x	as long as short
Injective MORPHO/USDC PERP	−0.0385%	1h	2.6610	−0.045%	$37	$198K	5.5x	as long as short
Polymarket Perps MORPHO-USD	−0.0383%	1h	2.6621	−0.004%	$26K	$1.8M	5x	as long as short
GRVT MORPHO_USDT_Perpshort	−0.0350%	4h	2.6583	−0.147%	$30K	$154K	10x
Coinbase International MORPHO-PERP-INTX	−0.0296%	1h	2.6617	−0.019%	$77K	$46K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6620	−0.008%	$645K	$223K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0170%	4h	2.6619	−0.011%	$10K	$34K	10x	as long as short
Gate MORPHO_USDTlong	−0.0070%	4h	2.6622	long leg	$763K	$523K	50x

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit MORPHOUSDT	−0.0048%	4h	2.6624	+0.008%	$8.7M	$10.0M	25x	as long as short
Phoenix MORPHO	−0.0030%	1h	2.6655	+0.124%	$34K	$493K	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6626	+0.016%	$16	—	10x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6654	+0.119%	$317K	$336K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6614	−0.028%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6667	+0.169%	$6.3M	$7.2M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6631	+0.035%	$58K	$33K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6612	−0.036%	$16.3M	$26.8M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6628	+0.023%	$3.2M	$4.5M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6614	−0.030%	$5.5M	$1.2M	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6647	+0.094%	$624K	$271K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6625	+0.011%	$2.9M	$2.0M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6640	+0.068%	—	$1.5M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6639	+0.062%	$647K	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6617	−0.019%	$22K	$3K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6607	−0.056%	$103K	$301K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0188% / S −12.8197%	1h	2.6647	+0.093%	$1K	—	100x	as long as short