Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+12.8812%/8h= +14104.9% APRpaid last 24h +17.599%

Price spread now: GMX against KuCoin−0.012%7-day average — · you buy dearer than you sell

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

Long on KuCoin 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—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3,864 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MORPHOUSDTM	2.5799	0.0100	pay 0.0050% / 4h	0m 52s	$587K	$263K	50x
Short	GMX MORPHO/USD [ETH-USDC]	2.5796	L +0.0156% / S −12.8912%	get 1.6114% / 1h	0m 52s	$1K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against KuCoin. 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 KuCoinbpFee GMXbpOrdersPrice spread, now −0.012%Rate

Funding earned: $27,050.45
Price spread: −0.012% → 0.000%: −$1.21
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $27,025.24
Costs to cover: 0.240%
Break-even: 0.0 days

Slippage unknown: KuCoin: live order book, 33 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 KuCoin live order book, 33 min ago	10.65 bp	58.9 bp −$59	166.2 bp −$1,662	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
01 Exchange MORPHOUSD	−0.1424%	1h	2.5689	−0.426%	$844	$9K	5x	as long as short
Kraken Futures PF_MORPHOUSD	−0.1239%	1h	2.5748	−0.199%	$84K	$134K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1183%	1h	2.5776	−0.089%	$11K	$3K	10x	as long as short
GRVT MORPHO_USDT_Perp	−0.0684%	4h	2.5781	−0.070%	$30K	$123K	10x	as long as short
Bybit MORPHOUSDT	−0.0578%	4h	2.5792	−0.027%	$7.8M	$8.4M	25x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0496%	1h	2.5636	−0.632%	$70K	$37K	25x	as long as short
Variational Omni MORPHO	−0.0411%	4h	2.5807	+0.029%	$615K	$526K	—	as long as short
BloFin MORPHO-USDT	−0.0408%	4h	2.5747	−0.202%	$629K	$238K	20x	as long as short
Polymarket Perps MORPHO-USD	−0.0376%	1h	2.5788	−0.043%	$25K	$1.4M	5x	as long as short
Orderly PERP_MORPHO_USDC	−0.0265%	4h	2.5765	−0.132%	$10K	$34K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix MORPHO	−0.0185%	1h	2.5805	+0.023%	$33K	$336K	5x	as long as short
Gate MORPHO_USDT	−0.0180%	4h	2.5790	−0.035%	$759K	$507K	50x	as long as short
Extended MORPHO-USD	−0.0168%	1h	2.5774	−0.097%	$99K	$375K	10x	as long as short
Binance MORPHOUSDT	−0.0168%	4h	2.5778	−0.083%	$15.5M	$23.8M	75x	as long as short
MEXC MORPHO_USDT	−0.0164%	4h	2.5781	−0.070%	$6.2M	$910K	100x	as long as short
Aster MORPHOUSDT	−0.0158%	4h	2.5776	−0.090%	$54K	$48K	20x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.5773	−0.101%	$15	—	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+2.446%	$37	$242K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	2.5791	−0.030%	$311K	$288K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.5736	−0.243%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.5832	+0.128%	$5.9M	$7.0M	5x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.5796	−0.012%	$3.2M	$4.1M	20x	as long as short
KuCoin MORPHOUSDTMlong	+0.0100%	4h	2.5799	long leg	$587K	$263K	50x
Bitget MORPHOUSDT	+0.0100%	4h	2.5767	−0.124%	$2.8M	$1.6M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.5793	−0.023%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.5768	−0.120%	$21K	$5K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]short	L +0.0156% / S −12.8912%	1h	2.5796	−0.012%	$1K	—	100x