MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.1134%/8h= −124.2% APRnext payment −$1.42 per $10,000 · paid last 24h −0.305%

Price spread now: Deribit against GMX−0.040%7-day average — · you buy dearer than you sell

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

Long on GMX Short on Deribit

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 against this trade now: funding costs −$34 a day on $10k at the current rate, and Deribit is 0.040% cheaper against GMX than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX MORPHO/USD [ETH-USDC]	2.6172	L +0.0162% / S −13.4367%	pay 0.0020% / 1h	11m 49s	$1K	—	100x
Short	Deribit MORPHO_USDC-PERPETUAL	2.6161	−0.0972	pay 0.0121% / 1h	11m 49s	$11K	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against GMX. 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 GMXbpFee DeribitbpOrdersPrice spread, now −0.040%Rate

Funding earned: −$238.18
Price spread: −0.040% → 0.000%: −$4.04
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$261.22
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Deribit: 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 GMX no order-book sample	—	—	—	—	—
Sell Deribit no order-book sample	—	—	—	—	—

GMX and Deribit: 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	−0.1543%	1h	2.6159	−0.047%	$79K	$134K	20x	as long as short
Deribit MORPHO_USDC-PERPETUALshort	−0.0972%	1h	2.6161	−0.040%	$11K	$2K	10x
01 Exchange MORPHOUSD	−0.0800%	1h	2.6137	−0.132%	$859	$9K	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0284%	4h	2.5947	−0.858%	$33K	$134K	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0216%	1h	2.6038	−0.510%	$73K	$40K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6130	−0.159%	$593K	$241K	20x	as long as short
Phoenix MORPHO	−0.0154%	1h	2.5945	−0.866%	$33K	$330K	5x	as long as short
Orderly PERP_MORPHO_USDC	−0.0125%	4h	2.6154	−0.067%	$10K	$34K	10x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.6166	−0.020%	$16	—	10x	as long as short
Polymarket Perps MORPHO-USD	+0.0004%	1h	2.6166	−0.021%	$25K	$1.5M	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	+0.987%	$37	$242K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6185	+0.053%	$315K	$295K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6155	−0.064%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6255	+0.319%	$6.0M	$7.0M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6216	+0.169%	$58K	$33K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6208	+0.138%	$15.9M	$24.4M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6220	+0.185%	$8.1M	$8.6M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6217	+0.174%	$3.2M	$4.1M	20x	as long as short
Gate MORPHO_USDT	+0.0100%	4h	2.6217	+0.174%	$764K	$507K	50x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6205	+0.128%	$6.3M	$912K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6222	+0.193%	$603K	$250K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6211	+0.151%	$2.8M	$1.6M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6227	+0.212%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.5946	−0.863%	$617K	$677K	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6160	−0.044%	$21K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6199	+0.106%	$101K	$347K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]long	L +0.0162% / S −13.4367%	1h	2.6172	long leg	$1K	—	100x