Funding you earn now, next payment 22:00 UTC−0.0393%/8h= −43.0% APRpaid last 24h −0.070%
Price spread now: BloFin against GMX−0.069%51s7-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 −$12 a day on $10k at the current rate, and BloFin is 0.069% cheaper against GMX than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 51 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 | GMX MORPHO/USD [ETH-USDC] | 2.6666 | L +0.0193% / S −16.5420% | pay 0.0024% / 1h | 51m 45s | $1K | — | 100x |
| Short | BloFin MORPHO-USDT | 2.6648 | −0.0200 | pay 0.0100% / 4h | 2h 51m | $653K | $205K | 20x |
GMX MORPHO/USD [ETH-USDC]
BloFin MORPHO-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin 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
- −$82.47
- Price spread: −0.069% → 0.000%
- −$6.92
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$113.39
- Costs to cover
- 0.240%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; BloFin: live order book, 34 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 BloFin live order book, 34 min ago | 3.34 bp | 10.3 bp −$10 | 26.4 bp −$264 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_MORPHOUSD | −0.2050% | 1h | 2.6585 | −0.304% | $83K | $147K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1474% | 1h | 2.6636 | −0.114% | $10K | $623 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.1392% | 1h | 2.6568 | −0.369% | $873 | $12K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0646% | 4h | 2.6664 | −0.008% | $41K | $151K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0618% | 1h | 2.6622 | −0.167% | $25K | $1.9M | 5x | as long as short |
| Injective MORPHO/USDC PERP | −0.0385% | 1h | 2.6670 | +0.013% | $38K | $142K | 5.5x | as long as short |
| Bybit MORPHOUSDT | −0.0316% | 4h | 2.6650 | −0.062% | $8.8M | $10.0M | 25x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0296% | 1h | 2.6813 | +0.550% | $77K | $46K | 25x | as long as short |
| Gate MORPHO_USDT | −0.0236% | 4h | 2.6660 | −0.024% | $761K | $517K | 50x | as long as short |
| BloFin MORPHO-USDTshort | −0.0200% | 4h | 2.6648 | −0.069% | $653K | $205K | 20x |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Polymarket Perps MORPHO-USD
Injective MORPHO/USDC PERP
Bybit MORPHOUSDT
Coinbase International MORPHO-PERP-INTX
Gate MORPHO_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_MORPHO_USDC | −0.0196% | 4h | 2.6623 | −0.163% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6664 | −0.009% | $34K | $493K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6634 | −0.121% | $16 | — | 10x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6665 | −0.004% | $317K | $335K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6635 | −0.117% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6672 | +0.019% | $6.3M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6617 | −0.185% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6615 | −0.195% | $16.3M | $26.8M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6642 | −0.092% | $3.2M | $4.5M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6617 | −0.185% | $5.4M | $1.1M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6639 | −0.103% | $601K | $268K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6626 | −0.152% | $2.9M | $2.0M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6635 | −0.118% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6700 | +0.125% | $649K | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6638 | −0.107% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6613 | −0.202% | $103K | $301K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC]long | L +0.0193% / S −16.5420% | 1h | 2.6666 | long leg | $1K | — | 100x |
Orderly PERP_MORPHO_USDC
Phoenix MORPHO
Reya MORPHORUSDPERP
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