Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+15.6729%/8h= +17161.9% APRpaid last 24h +7.887%

Price spread now: GMX against Bitget−0.074%7-day average — · you buy dearer than you sell

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

Long on Bitget 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

Funding pays, the price is against you. GMX is 0.074% cheaper against Bitget than usual: you would sell low and buy high (spread −0.074% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about under an hour of funding at the current rate (+$4,702 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MORPHOUSDT	2.6152	0.0100	pay 0.0050% / 4h	1h 38m	$2.8M	$1.8M	75x
Short	GMX MORPHO/USD [ETH-USDC]	2.6133	L +0.0186% / S −15.6829%	get 1.9604% / 1h	38m 07s	$1K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bitget. 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 BitgetbpFee GMXbpOrdersPrice spread, now −0.074%Rate

Funding earned: $32,913.17
Price spread: −0.074% → 0.000%: −$7.43
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $32,881.74
Costs to cover: 0.240%
Break-even: 0.0 days

Slippage unknown: Bitget: live order book, 4 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 Bitget live order book, 4 min ago	4.39 bp	15.4 bp −$15	70.2 bp −$702	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	−0.1681%	1h	2.6075	−0.295%	$81K	$128K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1127%	1h	2.6104	−0.184%	$11K	$955	10x	as long as short
01 Exchange MORPHOUSD	−0.0560%	1h	2.6085	−0.256%	$857	$9K	5x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6121	−0.119%	$638K	$242K	20x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0192%	1h	2.6327	+0.669%	$75K	$42K	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0156%	4h	2.6104	−0.184%	$10K	$34K	10x	as long as short
GRVT MORPHO_USDT_Perp	−0.0114%	4h	2.6163	+0.042%	$32K	$142K	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0106%	1h	2.6111	−0.157%	$25K	$1.8M	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6102	−0.191%	$16	—	10x	as long as short
Phoenix MORPHO	0.0000%	1h	2.6187	+0.134%	$43K	$392K	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+1.063%	$37	$242K	5.5x	as long as short
Gate MORPHO_USDT	+0.0050%	4h	2.6147	−0.019%	$754K	$503K	50x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6138	−0.055%	$313K	$308K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6127	−0.095%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6156	+0.015%	$6.1M	$6.9M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6128	−0.092%	$57K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6102	−0.191%	$15.7M	$25.7M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6130	−0.084%	$8.3M	$9.4M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6134	−0.069%	$3.2M	$4.3M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6096	−0.214%	$5.8M	$840K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6137	−0.057%	$595K	$252K	50x	as long as short
Bitget MORPHOUSDTlong	+0.0100%	4h	2.6152	long leg	$2.8M	$1.8M	75x
BingX MORPHO-USDT	+0.0100%	4h	2.6122	−0.115%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6155	+0.011%	$624K	$907K	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6106	−0.176%	$21K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6095	−0.219%	$100K	$355K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]short	L +0.0186% / S −15.6829%	1h	2.6133	−0.074%	$1K	—	100x