MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1433%/8h= −156.9% APRnext payment −$1.79 per $10,000 · paid last 24h −0.286%

Price spread now: Deribit against GMX−0.156%7-day average — · you buy dearer than you sell

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

Long on GMX Short on Deribit

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 against this trade now: funding costs −$43 a day on $10k at the current rate, and Deribit is 0.156% 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]	2.6059	L +0.0186% / S −15.6829%	pay 0.0023% / 1h	4m 23s	$1K	—	100x
Short	Deribit MORPHO_USDC-PERPETUAL	2.6018	−0.1247	pay 0.0156% / 1h	4m 23s	$11K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against GMX. 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 GMXbpFee DeribitbpOrdersPrice spread, now −0.156%Rate

Funding earned: −$300.94
Price spread: −0.156% → 0.000%: −$15.56
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$335.5
Costs to cover: 0.190%
Break-even: never at this rate

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

GMX and Deribit: 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	−0.1665%	1h	2.6026	−0.126%	$81K	$127K	20x	as long as short
Deribit MORPHO_USDC-PERPETUALshort	−0.1247%	1h	2.6018	−0.156%	$11K	$1K	10x
01 Exchange MORPHOUSD	−0.1016%	1h	2.5952	−0.409%	$853	$9K	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0282%	4h	2.6040	−0.070%	$34K	$140K	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0224%	1h	2.6092	+0.128%	$75K	$41K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6020	−0.148%	$638K	$241K	20x	as long as short
Polymarket Perps MORPHO-USD	−0.0158%	1h	2.6058	−0.002%	$25K	$1.6M	5x	as long as short
Orderly PERP_MORPHO_USDC	−0.0140%	4h	2.6030	−0.110%	$10K	$34K	10x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.6047	−0.042%	$16	—	10x	as long as short
Phoenix MORPHO	0.0000%	1h	2.6113	+0.209%	$43K	$370K	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+1.425%	$37	$242K	5.5x	as long as short
Gate MORPHO_USDT	+0.0036%	4h	2.6038	−0.079%	$762K	$483K	50x	as long as short
Bybit MORPHOUSDT	+0.0073%	4h	2.6035	−0.090%	$8.1M	$8.7M	25x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6050	−0.035%	$313K	$309K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.5995	−0.242%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6097	+0.148%	$6.0M	$6.8M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6060	+0.007%	$57K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6025	−0.129%	$15.7M	$24.7M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6054	−0.017%	$3.2M	$4.1M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6038	−0.079%	$5.9M	$835K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6042	−0.064%	$595K	$253K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6030	−0.110%	$2.8M	$1.7M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6033	−0.098%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6050	−0.031%	$621K	$675K	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6013	−0.175%	$21K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.5998	−0.232%	$100K	$348K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]long	L +0.0186% / S −15.6829%	1h	2.6059	long leg	$1K	—	100x