MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+12.8097%/8h= +14026.6% APRnext payment +$160.12 per $10,000 · paid last 24h +4.166%

Price spread now: GMX against Hyperliquid−0.059%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Funding pays, the price is against you. GMX is 0.059% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.059% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about under an hour of funding at the current rate (+$3,843 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MORPHO	2.6667	0.0100	pay 0.0013% / 1h	18m 42s	$6.3M	$7.2M	5x
Short	GMX MORPHO/USD [ETH-USDC]	2.6651	L +0.0188% / S −12.8197%	get 1.6025% / 1h	18m 42s	$1K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Hyperliquid. 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 HyperliquidbpFee GMXbpOrdersPrice spread, now −0.059%Rate

Funding earned: $26,900.29
Price spread: −0.059% → 0.000%: −$5.91
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: $26,873.38
Costs to cover: 0.210%
Break-even: 0.0 days

Slippage unknown: Hyperliquid: live order book, 3 min ago; GMX: 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 Hyperliquid live order book, 3 min ago	0.19 bp	16.9 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.2051%	1h	2.6574	−0.350%	$83K	$148K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1287%	1h	2.6626	−0.154%	$11K	$911	10x	as long as short
01 Exchange MORPHOUSD	−0.0840%	1h	2.6587	−0.300%	$874	$12K	5x	as long as short
Injective MORPHO/USDC PERP	−0.0385%	1h	2.6610	−0.214%	$37	$198K	5.5x	as long as short
Polymarket Perps MORPHO-USD	−0.0381%	1h	2.6620	−0.176%	$26K	$1.8M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0350%	4h	2.6583	−0.316%	$30K	$154K	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0296%	1h	2.6617	−0.187%	$77K	$46K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6620	−0.176%	$645K	$223K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0170%	4h	2.6618	−0.184%	$10K	$34K	10x	as long as short
Gate MORPHO_USDT	−0.0070%	4h	2.6624	−0.161%	$763K	$523K	50x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit MORPHOUSDT	−0.0048%	4h	2.6626	−0.154%	$8.7M	$10.1M	25x	as long as short
Phoenix MORPHO	−0.0030%	1h	2.6655	−0.045%	$34K	$493K	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6636	−0.116%	$16	—	10x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6659	−0.028%	$318K	$336K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6614	−0.197%	$5K	$3	5x	as long as short
Hyperliquid MORPHOlong	+0.0100%	1h	2.6667	long leg	$6.3M	$7.2M	5x
Aster MORPHOUSDT	+0.0100%	4h	2.6633	−0.128%	$58K	$33K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6608	−0.221%	$16.3M	$26.8M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6626	−0.154%	$3.2M	$4.5M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6607	−0.225%	$5.5M	$1.2M	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6626	−0.154%	$624K	$271K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6619	−0.180%	$2.9M	$2.0M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6638	−0.109%	—	$1.5M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6639	−0.107%	$647K	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6617	−0.187%	$22K	$3K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6606	−0.228%	$103K	$301K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]short	L +0.0188% / S −12.8197%	1h	2.6651	−0.059%	$1K	—	100x