MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0532%/8h= −58.3% APRnext payment −$2.66 per $10,000 · paid last 24h −0.042%

Price spread now: GRVT against MEXC+0.050%7-day average −0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$580.583% of the position

Long on MEXC Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.361%−$36 on $10k

Price spread, last 3 days (all we have)−0.154%−$15 · spread now +0.050%, 7d avg −0.027%

Together, before fees−0.515%+ Points / potential airdropGRVT: Active · farm board−$51 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GRVT is 0.077% dearer against MEXC than usual: you sell high and buy low (spread +0.050% now, against its 7-day average of −0.027%): +$8 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 12 hours. At the pace of the last 7 days (−0.361% in total) that is about 36 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.361% in total (about -18.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.66 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC MORPHO_USDT	2.6466	−0.0004	get 0.0002% / 4h	33m 19s	$5.5M	$951K	100x
Short	GRVT MORPHO_USDT_Perp	2.6479	−0.0536	pay 0.0268% / 4h	33m 19s	$29K	$134K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against MEXC. 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 MEXCbpFee GRVTbpOrdersPrice spread, now +0.050%Rate

Funding earned: −$111.72
Price spread: +0.050% → −0.027%: $7.73
Slippage, 4 orders: −$45.32
Fee MEXC: 2 bp × 2 orders: −$4
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$162.31
Costs to cover: 0.583%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; GRVT: live order book, 43 min ago.

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 MEXC live order book, 4 min ago	0.94 bp	5.9 bp −$6	40.9 bp −$409	196.8 bp −$19.7K	doesn't fit
Sell GRVT live order book, 43 min ago	1.51 bp	26.5 bp −$27	doesn't fit	doesn't fit	doesn't fit

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	−0.1760%	1h	2.6414	−0.198%	$82K	$140K	20x	as long as short
01 Exchange MORPHOUSD	−0.0912%	1h	2.6397	−0.261%	$867	$12K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0807%	1h	2.6467	+0.004%	$11K	$812	10x	as long as short
GRVT MORPHO_USDT_Perpshort	−0.0536%	4h	2.6479	+0.050%	$29K	$134K	10x
Polymarket Perps MORPHO-USD	−0.0529%	1h	2.6468	+0.008%	$26K	$1.7M	5x	as long as short
Injective MORPHO/USDC PERP	−0.0405%	1h	2.6430	−0.136%	$37	$242K	5.5x	as long as short
Bybit MORPHOUSDT	−0.0388%	4h	2.6470	+0.015%	$8.4M	$9.2M	25x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0360%	1h	2.6508	+0.159%	$76K	$43K	25x	as long as short
Variational Omni MORPHO	−0.0145%	4h	2.6472	+0.023%	$629K	$1.0M	—	as long as short
Orderly PERP_MORPHO_USDC	−0.0144%	4h	2.6461	−0.019%	$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
BloFin MORPHO-USDT	−0.0117%	4h	2.6450	−0.060%	$639K	$252K	20x	as long as short
Gate MORPHO_USDT	−0.0108%	4h	2.6480	+0.053%	$770K	$532K	50x	as long as short
Phoenix MORPHO	−0.0060%	1h	2.6522	+0.212%	$43K	$477K	5x	as long as short
Binance MORPHOUSDT	−0.0009%	4h	2.6468	+0.008%	$16.0M	$25.9M	75x	as long as short
Extended MORPHO-USD	−0.0008%	1h	2.6459	−0.027%	$103K	$298K	10x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6470	+0.014%	$16	—	10x	as long as short
MEXC MORPHO_USDTlong	−0.0004%	4h	2.6466	long leg	$5.5M	$951K	100x
Lighter MORPHO	+0.0096%	1h	2.6489	+0.088%	$315K	$331K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6441	−0.093%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6541	+0.283%	$6.2M	$7.0M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6489	+0.088%	$58K	$31K	20x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6475	+0.034%	$3.2M	$4.5M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6475	+0.034%	$593K	$270K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6480	+0.053%	$2.9M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6480	+0.053%	—	$1.5M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6457	−0.034%	$22K	$4K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0154% / S −0.2700%	1h	2.6496	+0.114%	$1K	—	100x	as long as short