Funding you earn now, next payment 04:00 UTC+0.0096%/8h= +10.5% APRnext payment +$0.48 per $10,000 · paid last 24h +0.025%
Price spread now: Bybit against GRVT+0.119%90s7-day average +0.100% · you sell dearer than you buy
Net, funding: paid 7d − costs−$55as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$870.867% of the position
Funding, last 7 days+0.321%+$32 on $10k
+Price spread, last 4 days (all we have)−0.540%−$54 · spread now +0.119%, 7d avg +0.100%
=Together, before fees−0.219%+ Points / potential airdropGRVT: Active · farm board−$22 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.100%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. The two prices were read 90 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 | GRVT MORPHO_USDT_Perp | 2.6259 | 0.0004 | pay 0.0002% / 4h | 2h 12m | $32K | $142K | 10x |
| Short | Bybit MORPHOUSDT | 2.6290 | 0.0100 | get 0.0050% / 4h | 2h 12m | $8.3M | $9.3M | 25x |
GRVT MORPHO_USDT_Perp
Bybit MORPHOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against GRVT. 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
- $20.16
- Price spread: +0.119% → +0.100%
- $1.9
- Slippage, 4 orders
- −$66.74
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$64.68
- Costs to cover
- 0.867%
- Break-even
- 29.5 days
Slippage from GRVT: live order book, 55 min ago; Bybit: live order book, 1 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, 55 min ago | 1.69 bp | 29.5 bp −$30 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 1 min ago | 3.81 bp | 17.2 bp −$17 | 67.9 bp −$679 | doesn't fit | doesn't fit |
MORPHO on 26 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 | −0.1908% | 1h | 2.6259 | 0.000% | $80K | $128K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0510% | 1h | 2.6286 | +0.103% | $11K | $785 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0440% | 1h | 2.6238 | −0.079% | $862 | $9K | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0232% | 1h | 2.6379 | +0.457% | $76K | $42K | 25x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0151% | 4h | 2.6276 | +0.065% | $10K | $34K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0102% | 1h | 2.6259 | +0.001% | $28K | $1.8M | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6258 | −0.004% | $16 | — | 10x | as long as short |
| GRVT MORPHO_USDT_Perplong | +0.0004% | 4h | 2.6259 | long leg | $32K | $142K | 10x | |
| Phoenix MORPHO | +0.0030% | 1h | 2.6277 | +0.069% | $43K | $426K | 5x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +0.652% | $37 | $242K | 5.5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Coinbase International MORPHO-PERP-INTX
Orderly PERP_MORPHO_USDC
Polymarket Perps MORPHO-USD
Reya MORPHORUSDPERP
Phoenix MORPHO
Injective MORPHO/USDC PERPShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | +0.0064% | 4h | 2.6273 | +0.054% | $765K | $507K | 50x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6315 | +0.212% | $315K | $319K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6254 | −0.017% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6340 | +0.309% | $6.2M | $7.0M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6287 | +0.108% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6291 | +0.123% | $16.0M | $25.4M | 75x | as long as short |
| Bybit MORPHOUSDTshort | +0.0100% | 4h | 2.6290 | +0.119% | $8.3M | $9.3M | 25x | |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6295 | +0.138% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6299 | +0.153% | $5.6M | $915K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6298 | +0.149% | $597K | $254K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6309 | +0.191% | $2.9M | $1.7M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6286 | +0.103% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6235 | −0.090% | $625K | $912K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6280 | +0.080% | $22K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6268 | +0.035% | $101K | $355K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6287 | +0.105% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
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
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]