Funding you earn now, next payment 07:00 UTC−0.0117%/8h= −12.8% APRpaid last 24h −0.019%
Price spread now: Binance against GMX−0.157%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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 against this trade now: funding costs −$4 a day on $10k at the current rate, and Binance is 0.157% cheaper against GMX than usual: you would sell low and buy high (−$16 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX MORPHO/USD [ETH-USDC] | 2.6031 | L +0.0186% / S −15.6829% | pay 0.0023% / 1h | 8m 17s | $1K | — | 100x |
| Short | Binance MORPHOUSDT | 2.5990 | 0.0070 | get 0.0035% / 4h | 1h 08m | $15.8M | $24.4M | 75x |
GMX MORPHO/USD [ETH-USDC]
Binance MORPHOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against GMX. 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
- −$24.51
- Price spread: −0.157% → 0.000%
- −$15.74
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$62.25
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Binance: live order book, 3 min ago. 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 GMX no order-book sample | — | — | — | — | — |
| Sell Binance live order book, 3 min ago | 0.96 bp | 14.1 bp −$14 | 37.2 bp −$372 | doesn't fit | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit MORPHO_USDC-PERPETUAL | −0.1401% | 1h | 2.5996 | −0.134% | $11K | $2K | 10x | as long as short |
| Kraken Futures PF_MORPHOUSD | −0.1372% | 1h | 2.6002 | −0.112% | $84K | $135K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.1168% | 1h | 2.5904 | −0.488% | $851 | $9K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0478% | 4h | 2.5987 | −0.169% | $30K | $134K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0432% | 1h | 2.6011 | −0.077% | $72K | $38K | 25x | as long as short |
| Bybit MORPHOUSDT | −0.0328% | 4h | 2.6007 | −0.092% | $7.9M | $8.6M | 25x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0312% | 1h | 2.6009 | −0.084% | $28K | $1.4M | 5x | as long as short |
| BloFin MORPHO-USDT | −0.0236% | 4h | 2.5983 | −0.184% | $637K | $241K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0155% | 4h | 2.5998 | −0.127% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0092% | 1h | 2.6022 | −0.034% | $33K | $339K | 5x | as long as short |
Deribit MORPHO_USDC-PERPETUAL
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
Bybit MORPHOUSDT
Polymarket Perps MORPHO-USD
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDC
Phoenix MORPHOShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni MORPHO | −0.0050% | 4h | 2.5995 | −0.137% | $619K | $677K | — | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.6009 | −0.083% | $16 | — | 10x | as long as short |
| Gate MORPHO_USDT | +0.0026% | 4h | 2.6023 | −0.031% | $763K | $512K | 50x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +1.533% | $37 | $242K | 5.5x | as long as short |
| Binance MORPHOUSDTshort | +0.0070% | 4h | 2.5990 | −0.157% | $15.8M | $24.4M | 75x | |
| Extended MORPHO-USD | +0.0072% | 1h | 2.5982 | −0.187% | $99K | $345K | 10x | as long as short |
| MEXC MORPHO_USDT | +0.0076% | 4h | 2.5989 | −0.161% | $6.3M | $904K | 100x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6037 | +0.023% | $313K | $294K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5967 | −0.246% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6046 | +0.057% | $5.9M | $7.0M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6022 | −0.035% | $58K | $33K | 20x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6014 | −0.065% | $3.2M | $4.2M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6038 | +0.027% | $590K | $260K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6007 | −0.092% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6012 | −0.073% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6007 | −0.092% | $21K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC]long | L +0.0186% / S −15.6829% | 1h | 2.6031 | long leg | $1K | — | 100x |
Variational Omni MORPHO
Reya MORPHORUSDPERP
Gate MORPHO_USDT
Injective MORPHO/USDC PERP
Extended MORPHO-USD
MEXC MORPHO_USDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD