MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0153%/8h= −16.8% APRnext payment −$0.19 per $10,000 · paid last 24h −0.061%

Price spread now: Injective against GMX+0.788%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 Injective

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

The price spread pays, funding is against you. Injective is 0.788% dearer against GMX than usual: you sell high and buy low (spread +0.788% now, against zero (this spread has no 7-day history yet)): +$79 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 17 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX MORPHO/USD [ETH-USDC]	2.6223	L +0.0186% / S −15.6829%	pay 0.0023% / 1h	32m 42s	$1K	—	100x
Short	Injective MORPHO/USDC PERP	2.6430	0.0033	get 0.0004% / 1h	32m 42s	$37	$242K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.788%Rate

Funding earned: −$32.14
Price spread: +0.788% → 0.000%: $78.85
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $34.69
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; Injective: 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 Injective no order-book sample	—	—	—	—	—

GMX and Injective: 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	−0.1674%	1h	2.6184	−0.150%	$81K	$128K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0894%	1h	2.6205	−0.070%	$11K	$955	10x	as long as short
01 Exchange MORPHOUSD	−0.0608%	1h	2.6154	−0.264%	$859	$9K	5x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6187	−0.138%	$636K	$242K	20x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0192%	1h	2.6195	−0.108%	$75K	$42K	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0156%	4h	2.6193	−0.115%	$10K	$34K	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0132%	1h	2.6210	−0.050%	$25K	$1.8M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0114%	4h	2.6204	−0.073%	$32K	$142K	10x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.6212	−0.044%	$16	—	10x	as long as short
Phoenix MORPHO	0.0000%	1h	2.6172	−0.195%	$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 PERPshort	+0.0033%	1h	2.6430	+0.788%	$37	$242K	5.5x
Gate MORPHO_USDT	+0.0040%	4h	2.6203	−0.077%	$755K	$504K	50x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6227	+0.014%	$314K	$308K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6213	−0.040%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6262	+0.148%	$6.2M	$6.9M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6208	−0.057%	$57K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6196	−0.102%	$15.8M	$25.7M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6207	−0.062%	$8.3M	$9.5M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6209	−0.054%	$3.2M	$4.3M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6198	−0.096%	$5.8M	$840K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6215	−0.031%	$596K	$252K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6213	−0.039%	$2.8M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6199	−0.092%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6220	−0.013%	$625K	$907K	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6217	−0.024%	$22K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6189	−0.130%	$100K	$353K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]long	L +0.0186% / S −15.6829%	1h	2.6223	long leg	$1K	—	100x