Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0214%/8h= −23.4% APRpaid last 24h +0.094%

Price spread now: Coinbase International against GRVT+0.083%76s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on GRVT Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.552%+$55 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

The price spread pays, funding is against you. Coinbase International is 0.083% dearer against GRVT than usual: you sell high and buy low (spread +0.083% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 31 hours. Mind the row above: over the last 7 days funding on this pair paid +0.552%, so the current rate has only just turned against you. The two prices were read 76 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	2.6431	−0.0066	get 0.0033% / 4h	3h 43m	$41K	$133K	10x
Short	Coinbase International MORPHO-PERP-INTX	2.6453	−0.0280	pay 0.0035% / 1h	43m 52s	$76K	$43K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against GRVT. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Coinbase InternationalbpOrdersPrice spread, now +0.083%Rate

Funding earned: −$44.94
Price spread: +0.083% → 0.000%: $8.25
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$55.69
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 28 min ago; Coinbase International: 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 GRVT live order book, 28 min ago	1022.95 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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	−0.1837%	1h	2.6460	+0.108%	$80K	$132K	20x	as long as short
01 Exchange MORPHOUSD	−0.0480%	1h	2.6488	+0.215%	$870	$13K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0467%	1h	2.6496	+0.245%	$11K	$788	10x	as long as short
Coinbase International MORPHO-PERP-INTXshort	−0.0280%	1h	2.6453	+0.083%	$76K	$43K	25x
Variational Omni MORPHO	−0.0242%	4h	2.6451	+0.075%	$628K	$1.0M	—	as long as short
Polymarket Perps MORPHO-USD	−0.0186%	1h	2.6502	+0.268%	$28K	$1.7M	5x	as long as short
BloFin MORPHO-USDT	−0.0181%	4h	2.6453	+0.083%	$639K	$228K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0142%	4h	2.6480	+0.185%	$10K	$34K	10x	as long as short
GRVT MORPHO_USDT_Perplong	−0.0066%	4h	2.6431	long leg	$41K	$133K	10x
Phoenix MORPHO	−0.0030%	1h	2.6497	+0.249%	$43K	$474K	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya MORPHORUSDPERP	−0.0004%	1h	2.6495	+0.242%	$16	—	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	−0.004%	$37	$242K	5.5x	as long as short
Gate MORPHO_USDT	+0.0074%	4h	2.6509	+0.294%	$767K	$516K	50x	as long as short
MEXC MORPHO_USDT	+0.0090%	4h	2.6509	+0.294%	$5.5M	$901K	100x	as long as short
Binance MORPHOUSDT	+0.0096%	4h	2.6507	+0.287%	$16.1M	$25.9M	75x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6565	+0.506%	$318K	$325K	5x	as long as short
Extended MORPHO-USD	+0.0096%	1h	2.6497	+0.248%	$101K	$405K	10x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6505	+0.281%	$5K	$3	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6508	+0.289%	$58K	$30K	20x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6502	+0.268%	$8.3M	$9.2M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6523	+0.347%	$3.2M	$4.5M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6514	+0.313%	$593K	$266K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6510	+0.298%	$2.9M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6517	+0.325%	—	$1.5M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6490	+0.223%	$22K	$4K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0158% / S −0.3418%	1h	2.6513	+0.311%	$1K	—	100x	as long as short
Hyperliquid MORPHO	+0.0338%	1h	2.6556	+0.472%	$6.3M	$7.0M	5x	as long as short