Funding you earn now, next payment 23:00 UTC+12.8097%/8h= +14026.6% APRpaid last 24h +5.795%
Price spread now: GMX against BingX+0.182%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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
Both sides work for this trade now. Funding pays +$3,843 a day on $10k at the current rate, and GMX is 0.182% dearer against BingX than usual: you sell high and buy low: +$18 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BingX MORPHO-USDT | 2.6374 | 0.0100 | pay 0.0050% / 4h | 1h 30m | — | $1.5M | — |
| Short | GMX MORPHO/USD [ETH-USDC] | 2.6422 | L +0.0188% / S −12.8197% | get 1.6025% / 1h | 30m 36s | $1K | — | 100x |
BingX MORPHO-USDT
GMX MORPHO/USD [ETH-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX against BingX. 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
- $26,900.29
- Price spread: +0.182% → 0.000%
- $18.24
- Slippage, 4 orders
- no order book: not counted
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- $26,896.53
- Costs to cover
- 0.220%
- Break-even
- 0.0 days
Slippage unknown: BingX: live order book, 1 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 BingX live order book, 1 min ago | 3.03 bp | 14.0 bp −$14 | 27.0 bp −$270 | 362.2 bp −$36.2K | 689.8 bp −$344.9K |
| 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 | −0.1862% | 1h | 2.6362 | −0.046% | $82K | $149K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1416% | 1h | 2.6371 | −0.011% | $11K | $812 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.1208% | 1h | 2.6302 | −0.273% | $864 | $13K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0710% | 1h | 2.6356 | −0.068% | $24K | $1.8M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0614% | 4h | 2.6383 | +0.034% | $29K | $146K | 10x | as long as short |
| Bybit MORPHOUSDT | −0.0594% | 4h | 2.6370 | −0.015% | $8.5M | $9.4M | 25x | as long as short |
| Injective MORPHO/USDC PERP | −0.0337% | 1h | 2.6430 | +0.212% | $37 | $242K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0312% | 1h | 2.6413 | +0.148% | $76K | $43K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0192% | 4h | 2.6372 | −0.008% | $640K | $244K | 20x | as long as short |
| Gate MORPHO_USDT | −0.0174% | 4h | 2.6396 | +0.083% | $767K | $533K | 50x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Bybit MORPHOUSDT
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Gate MORPHO_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_MORPHO_USDC | −0.0152% | 4h | 2.6372 | −0.008% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0090% | 1h | 2.6435 | +0.231% | $34K | $484K | 5x | as long as short |
| Variational Omni MORPHO | −0.0086% | 4h | 2.6397 | +0.087% | $628K | $1.2M | — | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6358 | −0.061% | $16 | — | 10x | as long as short |
| Binance MORPHOUSDT | +0.0043% | 4h | 2.6355 | −0.072% | $16.1M | $25.8M | 75x | as long as short |
| Extended MORPHO-USD | +0.0048% | 1h | 2.6351 | −0.088% | $103K | $301K | 10x | as long as short |
| MEXC MORPHO_USDT | +0.0048% | 4h | 2.6355 | −0.072% | $5.4M | $1.1M | 100x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6395 | +0.080% | $314K | $334K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6350 | −0.090% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6413 | +0.148% | $6.2M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6404 | +0.114% | $57K | $31K | 20x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6375 | +0.004% | $3.2M | $4.4M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6384 | +0.038% | $590K | $270K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6400 | +0.099% | $2.9M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDTlong | +0.0100% | 4h | 2.6374 | long leg | — | $1.5M | — | |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6367 | −0.027% | $22K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC]short | L +0.0188% / S −12.8197% | 1h | 2.6422 | +0.182% | $1K | — | 100x |
Orderly PERP_MORPHO_USDC
Phoenix MORPHO
Variational Omni MORPHO
Reya MORPHORUSDPERP
Binance MORPHOUSDT
Extended MORPHO-USD
MEXC MORPHO_USDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
SoDEX MORPHO-USD