MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0158%/8h= −17.3% APRnext payment −$0.20 per $10,000 · paid last 24h −0.048%

Price spread now: Reya against GMX−0.043%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 Reya

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 airdropReya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Reya is 0.043% 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]	2.5878	L +0.0154% / S +0.0038%	pay 0.0019% / 1h	29m 11s	$6K	—	100x
Short	Reya MORPHORUSDPERP	2.5867	−0.0005	pay 0.0001% / 1h	29m 11s	$16	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.043%Rate

Funding earned: −$33.26
Price spread: −0.043% → 0.000%: −$4.3
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: −$55.56
Costs to cover: 0.180%
Break-even: never at this rate

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

GMX and Reya: 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	−0.1564%	1h	2.5809	−0.268%	$81K	$129K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1180%	1h	2.5840	−0.146%	$11K	$2K	10x	as long as short
01 Exchange MORPHOUSD	−0.0896%	1h	2.5790	−0.340%	$847	$9K	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0410%	4h	2.5784	−0.363%	$32K	$134K	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0216%	1h	2.5863	−0.058%	$73K	$39K	25x	as long as short
BloFin MORPHO-USDT	−0.0178%	4h	2.5844	−0.131%	$632K	$240K	20x	as long as short
Phoenix MORPHO	−0.0154%	1h	2.5824	−0.208%	$33K	$330K	5x	as long as short
Orderly PERP_MORPHO_USDC	−0.0132%	4h	2.5834	−0.170%	$10K	$34K	10x	as long as short
Reya MORPHORUSDPERPshort	−0.0005%	1h	2.5867	−0.043%	$16	—	10x
Polymarket Perps MORPHO-USD	+0.0011%	1h	2.5872	−0.023%	$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	+2.134%	$37	$242K	5.5x	as long as short
Extended MORPHO-USD	+0.0088%	1h	2.5829	−0.189%	$103K	$343K	10x	as long as short
MEXC MORPHO_USDT	+0.0088%	4h	2.5837	−0.158%	$6.2M	$910K	100x	as long as short
Binance MORPHOUSDT	+0.0089%	4h	2.5836	−0.162%	$15.6M	$24.1M	75x	as long as short
Lighter MORPHO	+0.0096%	1h	2.5891	+0.050%	$311K	$295K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.5825	−0.203%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.5900	+0.085%	$5.9M	$6.8M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.5832	−0.176%	$57K	$31K	20x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.5860	−0.069%	$8.0M	$8.5M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.5858	−0.077%	$3.2M	$4.0M	20x	as long as short
Gate MORPHO_USDT	+0.0100%	4h	2.5836	−0.162%	$756K	$496K	50x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.5861	−0.065%	$594K	$246K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.5817	−0.235%	$2.8M	$1.6M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.5848	−0.116%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.5776	−0.394%	$613K	$677K	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.5827	−0.197%	$21K	$4K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]long	L +0.0154% / S +0.0038%	1h	2.5878	long leg	$6K	—	100x