Funding you earn now, next payment 22:00 UTC−0.0388%/8h= −42.5% APRpaid last 24h −0.070%
Price spread now: BloFin against GMX−0.158%51s7-day average — · you buy dearer than you sell
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 against this trade now: funding costs −$12 a day on $10k at the current rate, and BloFin is 0.158% cheaper against GMX than usual: you would sell low and buy high (−$16 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX MORPHO/USD [ETH-USDC] | 2.6547 | L +0.0188% / S −12.8197% | pay 0.0024% / 1h | 5m 58s | $1K | — | 100x |
| Short | BloFin MORPHO-USDT | 2.6505 | −0.0200 | pay 0.0100% / 4h | 2h 05m | $647K | $221K | 20x |
GMX MORPHO/USD [ETH-USDC]
BloFin MORPHO-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against GMX. 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
- −$81.5
- Price spread: −0.158% → 0.000%
- −$15.8
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$121.3
- Costs to cover
- 0.240%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; BloFin: live order book, 15 min ago. 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 GMX no order-book sample | — | — | — | — | — |
| Sell BloFin live order book, 15 min ago | 0.56 bp | 17.4 bp −$17 | 35.7 bp −$357 | doesn't fit | doesn't fit |
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 | −0.2055% | 1h | 2.6526 | −0.077% | $83K | $148K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1520% | 1h | 2.6500 | −0.177% | $11K | $911 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0944% | 1h | 2.6418 | −0.486% | $868 | $13K | 5x | as long as short |
| Bybit MORPHOUSDT | −0.0535% | 4h | 2.6495 | −0.196% | $8.6M | $9.7M | 25x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0503% | 1h | 2.6498 | −0.184% | $26K | $1.8M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0482% | 4h | 2.6518 | −0.109% | $29K | $154K | 10x | as long as short |
| Injective MORPHO/USDC PERP | −0.0385% | 1h | 2.6610 | +0.238% | $37 | $198K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0296% | 1h | 2.6617 | +0.264% | $77K | $45K | 25x | as long as short |
| BloFin MORPHO-USDTshort | −0.0200% | 4h | 2.6505 | −0.158% | $647K | $221K | 20x | |
| Gate MORPHO_USDT | −0.0180% | 4h | 2.6536 | −0.041% | $774K | $548K | 50x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Bybit MORPHOUSDT
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
Gate MORPHO_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_MORPHO_USDC | −0.0167% | 4h | 2.6506 | −0.154% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6540 | −0.026% | $34K | $493K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6503 | −0.166% | $16 | — | 10x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6545 | −0.006% | $316K | $340K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6485 | −0.233% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6567 | +0.077% | $6.2M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6558 | +0.042% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6497 | −0.188% | $16.2M | $26.6M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6498 | −0.184% | $3.2M | $4.4M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6493 | −0.203% | $5.5M | $1.2M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6527 | −0.075% | $620K | $268K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6520 | −0.101% | $2.9M | $1.9M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6508 | −0.147% | — | $1.5M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6494 | −0.198% | $644K | $1.2M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6500 | −0.177% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6496 | −0.192% | $103K | $301K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC]long | L +0.0188% / S −12.8197% | 1h | 2.6547 | long leg | $1K | — | 100x |
Orderly PERP_MORPHO_USDC
Phoenix MORPHO
Reya MORPHORUSDPERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD