MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0644%/8h= +70.5% APRnext payment +$3.22 per $10,000 · paid last 24h +0.042%

Price spread now: BingX against GRVT+0.100%7-day average +0.062% · you sell dearer than you buy

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$870.869% of the position

Long on GRVT Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.378%+$38 on $10k

Price spread, last 3 days (all we have)−0.120%−$12 · spread now +0.100%, 7d avg +0.062%

Together, before fees+0.258%+ Points / potential airdropGRVT: Active · farm board+$26 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and BingX is 0.038% dearer against GRVT than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.062%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.378% in total (about 19.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.22 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT MORPHO_USDT_Perp	2.6520	−0.0544	get 0.0272% / 4h	1h 56m	$29K	$154K	10x
Short	BingX MORPHO-USDT	2.6547	0.0100	get 0.0050% / 4h	1h 56m	—	$1.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against GRVT. 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 GRVTbpFee BingXbpOrdersPrice spread, now +0.100%Rate

Funding earned: $135.24
Price spread: +0.100% → +0.062%: $3.8
Slippage, 4 orders: −$67.93
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: $52.11
Costs to cover: 0.869%
Break-even: 4.3 days

Slippage from GRVT: live order book, 25 min ago; BingX: live order book, 3 min ago.

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 GRVT live order book, 25 min ago	1.50 bp	17.8 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 3 min ago	2.64 bp	18.0 bp −$18	39.9 bp −$399	230.2 bp −$23.0K	550.3 bp −$275.1K

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	−0.1853%	1h	2.6481	−0.147%	$83K	$148K	20x	as long as short
01 Exchange MORPHOUSD	−0.1288%	1h	2.6425	−0.360%	$868	$13K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1105%	1h	2.6537	+0.062%	$11K	$911	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0684%	1h	2.6513	−0.028%	$26K	$1.8M	5x	as long as short
Bybit MORPHOUSDT	−0.0644%	4h	2.6550	+0.111%	$8.6M	$9.6M	25x	as long as short
GRVT MORPHO_USDT_Perplong	−0.0544%	4h	2.6520	long leg	$29K	$154K	10x
Injective MORPHO/USDC PERP	−0.0337%	1h	2.6610	+0.338%	$37	$198K	5.5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0312%	1h	2.6617	+0.364%	$77K	$45K	25x	as long as short
Gate MORPHO_USDT	−0.0224%	4h	2.6508	−0.047%	$773K	$530K	50x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6503	−0.066%	$646K	$246K	20x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_MORPHO_USDC	−0.0164%	4h	2.6533	+0.047%	$10K	$34K	10x	as long as short
Phoenix MORPHO	−0.0030%	1h	2.6528	+0.028%	$34K	$484K	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6518	−0.008%	$16	—	10x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6597	+0.289%	$316K	$333K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6551	+0.116%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6583	+0.238%	$6.2M	$7.2M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6558	+0.142%	$58K	$33K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6550	+0.111%	$16.2M	$26.2M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6565	+0.168%	$3.2M	$4.4M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6549	+0.108%	$5.5M	$1.0M	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6526	+0.021%	$620K	$266K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6534	+0.051%	$2.9M	$1.9M	75x	as long as short
BingX MORPHO-USDTshort	+0.0100%	4h	2.6547	+0.100%	—	$1.5M	—
Variational Omni MORPHO	+0.0100%	4h	2.6529	+0.032%	$644K	$1.2M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6523	+0.010%	$22K	$3K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6526	+0.020%	$103K	$301K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0188% / S −12.8197%	1h	2.6551	+0.114%	$1K	—	100x	as long as short