Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0746%/8h= +81.7% APRpaid last 24h +0.042%

Price spread now: Paradex against GRVT−0.046%7-day average — · you buy dearer than you sell

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

Long on GRVT Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

Funding pays, the price is against you. Paradex is 0.046% cheaper against GRVT than usual: you would sell low and buy high (spread −0.046% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 5 hours of funding at the current rate (+$22 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT MORPHO_USDT_Perp	2.6664	−0.0646	get 0.0323% / 4h	2h 52m	$41K	$151K	10x
Short	Paradex MORPHO-USD-PERP	2.6652	0.0100	get 0.0100% / 8h	2h 52m	$5K	$3	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.046%Rate

Funding earned: $156.66
Price spread: −0.046% → 0.000%: −$4.63
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Paradex: 2 bp × 2 orders: −$4
Net: $139.02
Costs to cover: 0.130%
Break-even: 0.8 days

Slippage unknown: GRVT: live order book, 34 min ago; Paradex: 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, 34 min ago	1.49 bp	34.5 bp −$35	doesn't fit	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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	−0.2050%	1h	2.6596	−0.255%	$83K	$147K	20x	as long as short
01 Exchange MORPHOUSD	−0.1400%	1h	2.6554	−0.413%	$873	$12K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1324%	1h	2.6650	−0.053%	$10K	$623	10x	as long as short
GRVT MORPHO_USDT_Perplong	−0.0646%	4h	2.6664	long leg	$41K	$151K	10x
Polymarket Perps MORPHO-USD	−0.0623%	1h	2.6653	−0.042%	$25K	$2.0M	5x	as long as short
Injective MORPHO/USDC PERP	−0.0385%	1h	2.6670	+0.022%	$38K	$142K	5.5x	as long as short
Bybit MORPHOUSDT	−0.0316%	4h	2.6641	−0.087%	$8.8M	$10.0M	25x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0296%	1h	2.6813	+0.558%	$77K	$46K	25x	as long as short
Gate MORPHO_USDT	−0.0234%	4h	2.6658	−0.023%	$761K	$517K	50x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6648	−0.061%	$653K	$205K	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	−0.0196%	4h	2.6642	−0.083%	$10K	$34K	10x	as long as short
Phoenix MORPHO	−0.0030%	1h	2.6664	−0.001%	$34K	$493K	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6665	+0.001%	$16	—	10x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6665	+0.004%	$317K	$335K	5x	as long as short
Paradex MORPHO-USD-PERPshort	+0.0100%	8h	2.6652	−0.046%	$5K	$3	5x
Hyperliquid MORPHO	+0.0100%	1h	2.6675	+0.040%	$6.3M	$7.1M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6615	−0.183%	$58K	$33K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6614	−0.189%	$16.3M	$26.8M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6646	−0.068%	$3.2M	$4.5M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6619	−0.170%	$5.4M	$1.1M	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6641	−0.087%	$601K	$268K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6636	−0.106%	$2.9M	$2.0M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6628	−0.136%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6700	+0.134%	$649K	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6638	−0.098%	$22K	$3K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6621	−0.161%	$103K	$301K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0193% / S −16.5420%	1h	2.6681	+0.064%	$1K	—	100x	as long as short