Funding you earn now, next payment 23:00 UTC−0.0350%/8h= −38.3% APRpaid last 24h −0.097%
Price spread now: Gate against GMX+0.025%7-day average — · you sell dearer than you buy
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
The price spread pays, funding is against you. Gate is 0.025% dearer against GMX than usual: you sell high and buy low (spread +0.025% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 6 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX MORPHO/USD [ETH-USDC] | 2.6468 | L +0.0188% / S −12.8197% | pay 0.0024% / 1h | 39m 20s | $1K | — | 100x |
| Short | Gate MORPHO_USDT | 2.6475 | −0.0162 | pay 0.0081% / 4h | 1h 39m | $771K | $530K | 50x |
GMX MORPHO/USD [ETH-USDC]
Gate MORPHO_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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
- −$73.5
- Price spread: +0.025% → 0.000%
- $2.52
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$97.98
- Costs to cover
- 0.270%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Gate: live order book, 42 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 Gate live order book, 42 min ago | 7.33 bp | 48.4 bp −$48 | doesn't fit | 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 | −0.1857% | 1h | 2.6429 | −0.150% | $82K | $150K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1261% | 1h | 2.6433 | −0.133% | $11K | $911 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.1152% | 1h | 2.6352 | −0.439% | $866 | $13K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0639% | 1h | 2.6422 | −0.175% | $26K | $1.7M | 5x | as long as short |
| Bybit MORPHOUSDT | −0.0611% | 4h | 2.6440 | −0.107% | $8.5M | $9.4M | 25x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0576% | 4h | 2.6444 | −0.091% | $29K | $146K | 10x | as long as short |
| Injective MORPHO/USDC PERP | −0.0337% | 1h | 2.6430 | −0.145% | $37 | $242K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0312% | 1h | 2.6427 | −0.156% | $76K | $43K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0206% | 4h | 2.6412 | −0.213% | $640K | $244K | 20x | as long as short |
| Gate MORPHO_USDTshort | −0.0162% | 4h | 2.6475 | +0.025% | $771K | $530K | 50x |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
Bybit MORPHOUSDT
GRVT MORPHO_USDT_Perp
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_MORPHO_USDC | −0.0154% | 4h | 2.6437 | −0.118% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0090% | 1h | 2.6514 | +0.173% | $34K | $484K | 5x | as long as short |
| Variational Omni MORPHO | −0.0040% | 4h | 2.6477 | +0.033% | $629K | $1.2M | — | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6430 | −0.146% | $16 | — | 10x | as long as short |
| Binance MORPHOUSDT | +0.0079% | 4h | 2.6422 | −0.173% | $16.1M | $26.0M | 75x | as long as short |
| Extended MORPHO-USD | +0.0080% | 1h | 2.6427 | −0.156% | $103K | $301K | 10x | as long as short |
| MEXC MORPHO_USDT | +0.0082% | 4h | 2.6420 | −0.183% | $5.2M | $1.1M | 100x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6475 | +0.024% | $315K | $333K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6415 | −0.203% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6490 | +0.082% | $6.2M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6466 | −0.009% | $58K | $33K | 20x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6453 | −0.058% | $3.2M | $4.4M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6454 | −0.054% | $618K | $263K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6425 | −0.164% | $2.9M | $1.9M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6442 | −0.099% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6426 | −0.160% | $22K | $3K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC]long | L +0.0188% / S −12.8197% | 1h | 2.6468 | long leg | $1K | — | 100x |
Orderly PERP_MORPHO_USDC
Phoenix MORPHO
Variational Omni MORPHO
Reya MORPHORUSDPERP
Binance MORPHOUSDT
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