MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0086%/8h= −9.5% APRnext payment −$0.11 per $10,000 · paid last 24h +0.017%

Price spread now: Hyperliquid against GMX+0.100%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Hyperliquid

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—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

The price spread pays, funding is against you. Hyperliquid is 0.100% dearer against GMX than usual: you sell high and buy low (spread +0.100% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX MORPHO/USD [ETH-USDC]	2.6037	L +0.0186% / S −15.6829%	pay 0.0023% / 1h	50m 28s	$1K	—	100x
Short	Hyperliquid MORPHO	2.6063	0.0100	get 0.0013% / 1h	50m 28s	$6.1M	$6.9M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.100%Rate

Funding earned: −$18.12
Price spread: +0.100% → 0.000%: $10.05
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$29.08
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Hyperliquid: live order book, 2 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 Hyperliquid live order book, 2 min ago	2.30 bp	doesn't fit	doesn't fit	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	−0.1665%	1h	2.6021	−0.060%	$81K	$128K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1169%	1h	2.6032	−0.019%	$11K	$759	10x	as long as short
01 Exchange MORPHOUSD	−0.0856%	1h	2.5951	−0.330%	$853	$9K	5x	as long as short
Polymarket Perps MORPHO-USD	−0.0272%	1h	2.6019	−0.069%	$25K	$1.7M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0230%	4h	2.6115	+0.300%	$34K	$150K	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0224%	1h	2.6172	+0.519%	$75K	$42K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6026	−0.042%	$636K	$239K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0154%	4h	2.6006	−0.118%	$10K	$34K	10x	as long as short
Gate MORPHO_USDT	−0.0014%	4h	2.6018	−0.072%	$753K	$478K	50x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.6010	−0.103%	$16	—	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix MORPHO	0.0000%	1h	2.6144	+0.412%	$43K	$370K	5x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+1.510%	$37	$242K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6048	+0.043%	$313K	$309K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6041	+0.018%	$5K	$3	5x	as long as short
Hyperliquid MORPHOshort	+0.0100%	1h	2.6063	+0.100%	$6.1M	$6.9M	5x
Aster MORPHOUSDT	+0.0100%	4h	2.6042	+0.018%	$57K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6007	−0.114%	$15.7M	$25.3M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6020	−0.065%	$8.2M	$9.2M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6034	−0.011%	$3.2M	$4.3M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6015	−0.084%	$5.8M	$789K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6053	+0.062%	$592K	$251K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6011	−0.099%	$2.8M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6026	−0.042%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6035	−0.005%	$622K	$843K	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6032	−0.019%	$21K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.5996	−0.157%	$100K	$348K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]long	L +0.0186% / S −15.6829%	1h	2.6037	long leg	$1K	—	100x