MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.2040%/8h= −223.4% APRnext payment −$2.55 per $10,000 · paid last 24h +0.072%

Price spread now: Kraken Futures against GMX−0.167%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 Kraken Futures

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 −$61 a day on $10k at the current rate, and Kraken Futures is 0.167% cheaper against GMX than usual: you would sell low and buy high (−$17 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]	2.6542	L +0.0188% / S −12.8197%	pay 0.0024% / 1h	58m 38s	$1K	—	100x
Short	Kraken Futures PF_MORPHOUSD	2.6498	−0.1852	pay 0.0232% / 1h	58m 38s	$83K	$148K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.167%Rate

Funding earned: −$428.46
Price spread: −0.167% → 0.000%: −$16.68
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$467.13
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Kraken Futures: live order book, 24 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 Kraken Futures live order book, 24 min ago	44.08 bp	49.3 bp −$49	125.7 bp −$1,257	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_MORPHOUSDshort	−0.1852%	1h	2.6498	−0.167%	$83K	$148K	20x
Deribit MORPHO_USDC-PERPETUAL	−0.1444%	1h	2.6512	−0.112%	$11K	$911	10x	as long as short
01 Exchange MORPHOUSD	−0.1288%	1h	2.6429	−0.425%	$868	$13K	5x	as long as short
Polymarket Perps MORPHO-USD	−0.0689%	1h	2.6504	−0.143%	$26K	$1.8M	5x	as long as short
Bybit MORPHOUSDT	−0.0665%	4h	2.6502	−0.150%	$8.6M	$9.6M	25x	as long as short
GRVT MORPHO_USDT_Perp	−0.0544%	4h	2.6520	−0.081%	$29K	$154K	10x	as long as short
Injective MORPHO/USDC PERP	−0.0337%	1h	2.6610	+0.257%	$37	$198K	5.5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0312%	1h	2.6617	+0.283%	$77K	$45K	25x	as long as short
Gate MORPHO_USDT	−0.0216%	4h	2.6536	−0.022%	$774K	$530K	50x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6513	−0.109%	$646K	$246K	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	−0.0165%	4h	2.6512	−0.112%	$10K	$34K	10x	as long as short
Phoenix MORPHO	−0.0030%	1h	2.6546	+0.016%	$34K	$463K	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6516	−0.096%	$16	—	10x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6569	+0.102%	$316K	$333K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6483	−0.222%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6549	+0.027%	$6.2M	$7.2M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6543	+0.003%	$58K	$33K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6495	−0.177%	$16.2M	$26.4M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6503	−0.146%	$3.2M	$4.4M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6485	−0.214%	$5.5M	$1.0M	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6546	+0.016%	$620K	$267K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6507	−0.131%	$2.9M	$1.9M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6513	−0.109%	—	$1.5M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6529	−0.048%	$644K	$1.2M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6507	−0.131%	$22K	$3K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6500	−0.159%	$103K	$301K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]long	L +0.0188% / S −12.8197%	1h	2.6542	long leg	$1K	—	100x