MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1851%/8h= −202.7% APRnext payment −$2.31 per $10,000 · paid last 24h −0.068%

Price spread now: Kraken Futures against GMX−0.191%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 Kraken Futures

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 −$56 a day on $10k at the current rate, and Kraken Futures is 0.191% cheaper against GMX than usual: you would sell low and buy high (−$19 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]	2.6068	L +0.0186% / S −15.6829%	pay 0.0023% / 1h	2m 20s	$1K	—	100x
Short	Kraken Futures PF_MORPHOUSD	2.6018	−0.1665	pay 0.0208% / 1h	2m 20s	$81K	$127K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.191%Rate

Funding earned: −$388.81
Price spread: −0.191% → 0.000%: −$19.08
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$429.89
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Kraken Futures: live order book, 55 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 Kraken Futures live order book, 55 min ago	15.69 bp	75.3 bp −$75	168.4 bp −$1,684	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_MORPHOUSDshort	−0.1665%	1h	2.6018	−0.191%	$81K	$127K	20x
Deribit MORPHO_USDC-PERPETUAL	−0.1245%	1h	2.6045	−0.088%	$11K	$1K	10x	as long as short
01 Exchange MORPHOUSD	−0.1024%	1h	2.5977	−0.349%	$854	$9K	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0282%	4h	2.6040	−0.105%	$34K	$140K	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0224%	1h	2.6092	+0.092%	$75K	$41K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6044	−0.092%	$639K	$241K	20x	as long as short
Polymarket Perps MORPHO-USD	−0.0158%	1h	2.6055	−0.050%	$25K	$1.6M	5x	as long as short
Orderly PERP_MORPHO_USDC	−0.0141%	4h	2.6047	−0.080%	$10K	$34K	10x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.6038	−0.115%	$16	—	10x	as long as short
Phoenix MORPHO	0.0000%	1h	2.6055	−0.050%	$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	+1.389%	$37	$242K	5.5x	as long as short
Gate MORPHO_USDT	+0.0040%	4h	2.6067	−0.003%	$763K	$483K	50x	as long as short
Bybit MORPHOUSDT	+0.0078%	4h	2.6051	−0.065%	$8.1M	$8.6M	25x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6082	+0.055%	$313K	$309K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6042	−0.100%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6097	+0.112%	$6.0M	$6.8M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6080	+0.045%	$57K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6036	−0.122%	$15.7M	$24.6M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6061	−0.027%	$3.2M	$4.1M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6032	−0.138%	$5.9M	$835K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6059	−0.034%	$595K	$253K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6053	−0.057%	$2.8M	$1.7M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6047	−0.080%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6050	−0.067%	$621K	$675K	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6045	−0.088%	$21K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6028	−0.151%	$100K	$348K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]long	L +0.0186% / S −15.6829%	1h	2.6068	long leg	$1K	—	100x