Funding you earn now, next payment 08:00 UTC+0.0263%/8h= +28.7% APRnext payment +$1.31 per $10,000 · paid last 24h +0.008%
Price spread now: Orderly against GRVT−0.251%70s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Funding pays, the price is against you. Orderly is 0.251% cheaper against GRVT than usual: you would sell low and buy high (spread −0.251% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$25 on $10k: about 3.2 days of funding at the current rate (+$8 a day). The two prices were read 70 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 | 2.5854 | −0.0394 | get 0.0197% / 4h | 2h 31m | $33K | $134K | 10x |
| Short | Orderly PERP_MORPHO_USDC | 2.5789 | −0.0131 | pay 0.0066% / 4h | 2h 31m | $10K | $34K | 10x |
GRVT MORPHO_USDT_Perp
Orderly PERP_MORPHO_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- $55.13
- Price spread: −0.251% → 0.000%
- −$25.14
- Slippage, 4 orders
- no order book: not counted
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- $14.99
- Costs to cover
- 0.150%
- Break-even
- 5.1 days
Slippage unknown: GRVT: live order book, 15 min ago; Orderly: 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, 15 min ago | 1.35 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | −0.1566% | 1h | 2.5776 | −0.300% | $81K | $129K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1299% | 1h | 2.5784 | −0.271% | $11K | $2K | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0888% | 1h | 2.5758 | −0.371% | $846 | $9K | 5x | as long as short |
| GRVT MORPHO_USDT_Perplong | −0.0394% | 4h | 2.5854 | long leg | $33K | $134K | 10x | |
| Coinbase International MORPHO-PERP-INTX | −0.0216% | 1h | 2.5835 | −0.073% | $73K | $39K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0177% | 4h | 2.5803 | −0.197% | $634K | $241K | 20x | as long as short |
| Phoenix MORPHO | −0.0154% | 1h | 2.5858 | +0.015% | $33K | $330K | 5x | as long as short |
| Orderly PERP_MORPHO_USDCshort | −0.0131% | 4h | 2.5789 | −0.251% | $10K | $34K | 10x | |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.5790 | −0.247% | $15 | — | 10x | as long as short |
| Polymarket Perps MORPHO-USD | +0.0018% | 1h | 2.5818 | −0.139% | $25K | $1.5M | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Phoenix MORPHO
Reya MORPHORUSDPERP
Polymarket Perps MORPHO-USDShow 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 | +2.228% | $37 | $242K | 5.5x | as long as short |
| MEXC MORPHO_USDT | +0.0086% | 4h | 2.5783 | −0.275% | $6.2M | $909K | 100x | as long as short |
| Extended MORPHO-USD | +0.0088% | 1h | 2.5775 | −0.304% | $103K | $343K | 10x | as long as short |
| Binance MORPHOUSDT | +0.0089% | 4h | 2.5786 | −0.263% | $15.6M | $24.0M | 75x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.5833 | −0.081% | $311K | $295K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5785 | −0.266% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.5826 | −0.108% | $5.9M | $6.8M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.5792 | −0.238% | $57K | $31K | 20x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.5801 | −0.205% | $7.9M | $8.5M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.5821 | −0.128% | $3.2M | $4.0M | 20x | as long as short |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.5794 | −0.232% | $755K | $487K | 50x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.5822 | −0.124% | $593K | $246K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5754 | −0.387% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5791 | −0.244% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.5866 | +0.046% | $615K | $677K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.5776 | −0.302% | $21K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0156% / S +0.0037% | 1h | 2.5819 | −0.135% | $6K | — | 100x | as long as short |
Injective MORPHO/USDC PERP
MEXC MORPHO_USDT
Extended MORPHO-USD
Binance MORPHOUSDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
Gate MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]