Funding you earn now, next payment 00:00 UTC−0.0563%/8h= −61.7% APRnext payment −$0.70 per $10,000 · paid last 24h −0.050%
Price spread now: Injective against GMX−0.389%57s7-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 −$17 a day on $10k at the current rate, and Injective is 0.389% cheaper against GMX than usual: you would sell low and buy high (−$39 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 57 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] | 2.6533 | L +0.0158% / S −0.3418% | pay 0.0020% / 1h | 10m 18s | $1K | — | 100x |
| Short | Injective MORPHO/USDC PERP | 2.6430 | −0.0405 | pay 0.0051% / 1h | 10m 18s | $37 | $242K | 5.5x |
GMX MORPHO/USD [ETH-USDC]
Injective MORPHO/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- −$118.26
- Price spread: −0.389% → 0.000%
- −$38.92
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$169.21
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Injective: 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 Injective no order-book sample | — | — | — | — | — |
GMX and Injective: 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 | −0.1753% | 1h | 2.6525 | −0.031% | $81K | $143K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.0840% | 1h | 2.6475 | −0.220% | $870 | $12K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0653% | 1h | 2.6549 | +0.059% | $11K | $812 | 10x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0460% | 4h | 2.6511 | −0.085% | $41K | $146K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0459% | 1h | 2.6507 | −0.099% | $28K | $1.7M | 5x | as long as short |
| Injective MORPHO/USDC PERPshort | −0.0405% | 1h | 2.6430 | −0.389% | $37 | $242K | 5.5x | |
| Coinbase International MORPHO-PERP-INTX | −0.0360% | 1h | 2.6546 | +0.048% | $76K | $43K | 25x | as long as short |
| Bybit MORPHOUSDT | −0.0335% | 4h | 2.6560 | +0.101% | $8.4M | $9.3M | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0187% | 4h | 2.6492 | −0.156% | $638K | $253K | 20x | as long as short |
| Variational Omni MORPHO | −0.0167% | 4h | 2.6481 | −0.196% | $630K | $1.0M | — | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
GRVT MORPHO_USDT_Perp
Polymarket Perps MORPHO-USD
Coinbase International MORPHO-PERP-INTX
Bybit MORPHOUSDT
BloFin MORPHO-USDT
Variational Omni MORPHOShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_MORPHO_USDC | −0.0146% | 4h | 2.6538 | +0.018% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0060% | 1h | 2.6531 | −0.009% | $43K | $477K | 5x | as long as short |
| Gate MORPHO_USDT | −0.0056% | 4h | 2.6514 | −0.073% | $770K | $532K | 50x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6506 | −0.102% | $16 | — | 10x | as long as short |
| MEXC MORPHO_USDT | +0.0052% | 4h | 2.6513 | −0.076% | $5.5M | $961K | 100x | as long as short |
| Binance MORPHOUSDT | +0.0053% | 4h | 2.6555 | +0.082% | $16.1M | $26.0M | 75x | as long as short |
| Extended MORPHO-USD | +0.0056% | 1h | 2.6534 | +0.002% | $103K | $298K | 10x | as long as short |
| Aster MORPHOUSDT | +0.0082% | 4h | 2.6513 | −0.076% | $58K | $30K | 20x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6598 | +0.244% | $317K | $331K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6506 | −0.102% | $5K | $3 | 5x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6550 | +0.063% | $3.2M | $4.5M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6529 | −0.016% | $594K | $268K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6573 | +0.150% | $2.9M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6515 | −0.069% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6557 | +0.089% | $22K | $4K | 5x | as long as short |
| Hyperliquid MORPHO | +0.0111% | 1h | 2.6578 | +0.169% | $6.3M | $7.0M | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC]long | L +0.0158% / S −0.3418% | 1h | 2.6533 | long leg | $1K | — | 100x |
Orderly PERP_MORPHO_USDC
Phoenix MORPHO
Gate MORPHO_USDT
Reya MORPHORUSDPERP
MEXC MORPHO_USDT
Binance MORPHOUSDT
Extended MORPHO-USD
Aster MORPHOUSDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
Hyperliquid MORPHO