Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.3480%/8h= +381.1% APRpaid last 24h +5.922%

Price spread now: GMX against Gate+0.076%7-day average — · you sell dearer than you buy

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

Long on Gate 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

Both sides work for this trade now. Funding pays +$104 a day on $10k at the current rate, and GMX is 0.076% dearer against Gate than usual: you sell high and buy low: +$8 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	Gate MORPHO_USDT	2.6553	−0.0062	get 0.0031% / 4h	1m 12s	$769K	$534K	50x
Short	GMX MORPHO/USD [ETH-USDC]	2.6573	L +0.0158% / S −0.3418%	get 0.0427% / 1h	1m 12s	$1K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Gate. 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 GatebpFee GMXbpOrdersPrice spread, now +0.076%Rate

Funding earned: $730.82
Price spread: +0.076% → 0.000%: $7.57
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee GMX: 6 bp × 2 orders: −$12
Net: $711.38
Costs to cover: 0.270%
Break-even: 0.2 days

Slippage unknown: Gate: live order book, 10 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 Gate live order book, 10 min ago	6.04 bp	37.1 bp −$37	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	−0.1753%	1h	2.6522	−0.115%	$81K	$143K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1066%	1h	2.6558	+0.019%	$11K	$812	10x	as long as short
01 Exchange MORPHOUSD	−0.0872%	1h	2.6482	−0.267%	$870	$12K	5x	as long as short
Polymarket Perps MORPHO-USD	−0.0474%	1h	2.6536	−0.064%	$28K	$1.7M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0450%	4h	2.6509	−0.165%	$41K	$146K	10x	as long as short
Injective MORPHO/USDC PERP	−0.0405%	1h	2.6430	−0.463%	$37	$242K	5.5x	as long as short
Bybit MORPHOUSDT	−0.0370%	4h	2.6560	+0.026%	$8.4M	$9.3M	25x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0360%	1h	2.6546	−0.026%	$76K	$43K	25x	as long as short
Variational Omni MORPHO	−0.0209%	4h	2.6531	−0.081%	$631K	$1.0M	—	as long as short
BloFin MORPHO-USDT	−0.0193%	4h	2.6543	−0.038%	$638K	$239K	20x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_MORPHO_USDC	−0.0145%	4h	2.6552	−0.004%	$10K	$34K	10x	as long as short
Gate MORPHO_USDTlong	−0.0062%	4h	2.6553	long leg	$769K	$534K	50x
Phoenix MORPHO	−0.0060%	1h	2.6547	−0.023%	$43K	$477K	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6538	−0.056%	$16	—	10x	as long as short
Extended MORPHO-USD	+0.0056%	1h	2.6532	−0.080%	$103K	$298K	10x	as long as short
MEXC MORPHO_USDT	+0.0056%	4h	2.6554	+0.004%	$5.5M	$962K	100x	as long as short
Aster MORPHOUSDT	+0.0059%	4h	2.6564	+0.043%	$58K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0059%	4h	2.6556	+0.011%	$16.1M	$26.0M	75x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6597	+0.166%	$317K	$331K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6498	−0.206%	$5K	$3	5x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6567	+0.053%	$3.2M	$4.5M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6560	+0.026%	$595K	$267K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6582	+0.109%	$2.9M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6559	+0.023%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6555	+0.008%	$22K	$4K	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6628	+0.282%	$6.3M	$7.0M	5x	as long as short
GMX MORPHO/USD [ETH-USDC]short	L +0.0158% / S −0.3418%	1h	2.6573	+0.076%	$1K	—	100x