Funding you earn now, next payment 23:00 UTC−0.0192%/8h= −21.1% APRnext payment −$0.24 per $10,000 · paid last 24h −0.042%
Price spread now: Reya against GMX−0.314%55s7-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
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Reya is 0.314% cheaper against GMX than usual: you would sell low and buy high (−$31 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 55 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] | 2.6529 | L +0.0188% / S −12.8197% | pay 0.0024% / 1h | 53m 30s | $1K | — | 100x |
| Short | Reya MORPHORUSDPERP | 2.6446 | −0.0004 | pay 0.0001% / 1h | 53m 30s | $16 | — | 10x |
GMX MORPHO/USD [ETH-USDC]
Reya MORPHORUSDPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Reya 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
- −$40.42
- Price spread: −0.314% → 0.000%
- −$31.36
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Reya: 3 bp × 2 orders
- −$6
- Net
- −$89.78
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Reya: 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 Reya no order-book sample | — | — | — | — | — |
GMX and Reya: 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 | −0.1855% | 1h | 2.6461 | −0.259% | $83K | $149K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.1184% | 1h | 2.6386 | −0.541% | $867 | $13K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1107% | 1h | 2.6494 | −0.134% | $11K | $911 | 10x | as long as short |
| Bybit MORPHOUSDT | −0.0633% | 4h | 2.6474 | −0.209% | $8.6M | $9.6M | 25x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0592% | 1h | 2.6440 | −0.337% | $26K | $1.8M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0544% | 4h | 2.6541 | +0.045% | $29K | $154K | 10x | as long as short |
| Injective MORPHO/USDC PERP | −0.0337% | 1h | 2.6610 | +0.304% | $37 | $198K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0312% | 1h | 2.6617 | +0.330% | $77K | $45K | 25x | as long as short |
| Gate MORPHO_USDT | −0.0212% | 4h | 2.6472 | −0.217% | $771K | $530K | 50x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6515 | −0.055% | $644K | $246K | 20x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
Bybit MORPHOUSDT
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
Gate MORPHO_USDT
BloFin MORPHO-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_MORPHO_USDC | −0.0162% | 4h | 2.6509 | −0.077% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0090% | 1h | 2.6500 | −0.111% | $34K | $484K | 5x | as long as short |
| Reya MORPHORUSDPERPshort | −0.0004% | 1h | 2.6446 | −0.314% | $16 | — | 10x | |
| Variational Omni MORPHO | +0.0035% | 4h | 2.6558 | +0.107% | $643K | $1.2M | — | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6503 | −0.099% | $315K | $333K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6444 | −0.321% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6501 | −0.107% | $6.2M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6496 | −0.126% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6448 | −0.308% | $16.1M | $26.2M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6457 | −0.273% | $3.2M | $4.4M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6453 | −0.288% | $5.5M | $1.0M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6502 | −0.104% | $619K | $266K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6474 | −0.209% | $2.9M | $1.9M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6479 | −0.190% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6493 | −0.138% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6442 | −0.332% | $103K | $301K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC]long | L +0.0188% / S −12.8197% | 1h | 2.6529 | long leg | $1K | — | 100x |
Orderly PERP_MORPHO_USDC
Phoenix MORPHO
Variational Omni MORPHO
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
SoDEX MORPHO-USD
Extended MORPHO-USD