MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+15.7734%/8h= +17271.9% APRnext payment +$197.17 per $10,000 · paid last 24h +12.089%

Price spread now: GMX against Deribit+0.123%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on GMX

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 for this trade now. Funding pays +$4,732 a day on $10k at the current rate, and GMX is 0.123% dearer against Deribit than usual: you sell high and buy low: +$12 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MORPHO_USDC-PERPETUAL	2.5953	−0.0905	get 0.0113% / 1h	2m 52s	$11K	$2K	10x
Short	GMX MORPHO/USD [ETH-USDC]	2.5985	L +0.0186% / S −15.6829%	get 1.9604% / 1h	2m 52s	$1K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Deribit. 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 DeribitbpFee GMXbpOrdersPrice spread, now +0.123%Rate

Funding earned: $33,124.14
Price spread: +0.123% → 0.000%: $12.32
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee GMX: 6 bp × 2 orders: −$12
Net: $33,117.46
Costs to cover: 0.190%
Break-even: 0.0 days

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

Deribit and 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	−0.2176%	1h	2.5941	−0.048%	$80K	$127K	20x	as long as short
01 Exchange MORPHOUSD	−0.0976%	1h	2.5910	−0.166%	$851	$9K	5x	as long as short
Deribit MORPHO_USDC-PERPETUALlong	−0.0905%	1h	2.5953	long leg	$11K	$2K	10x
GRVT MORPHO_USDT_Perp	−0.0506%	4h	2.5971	+0.069%	$33K	$133K	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0216%	1h	2.5995	+0.162%	$74K	$41K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.5977	+0.092%	$633K	$244K	20x	as long as short
Polymarket Perps MORPHO-USD	−0.0147%	1h	2.5974	+0.081%	$24K	$1.5M	5x	as long as short
Orderly PERP_MORPHO_USDC	−0.0132%	4h	2.5952	−0.004%	$10K	$34K	10x	as long as short
Phoenix MORPHO	−0.0061%	1h	2.5989	+0.139%	$33K	$337K	5x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.5960	+0.026%	$16	—	10x	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	+1.838%	$37	$242K	5.5x	as long as short
Bybit MORPHOUSDT	+0.0061%	4h	2.5950	−0.012%	$8.0M	$8.5M	25x	as long as short
Lighter MORPHO	+0.0096%	1h	2.5975	+0.085%	$312K	$295K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.5965	+0.047%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.5986	+0.127%	$6.0M	$6.8M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.5976	+0.087%	$57K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.5948	−0.020%	$15.7M	$24.0M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.5967	+0.054%	$3.2M	$4.0M	20x	as long as short
Gate MORPHO_USDT	+0.0100%	4h	2.5951	−0.008%	$771K	$484K	50x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.5958	+0.019%	$6.0M	$841K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.5984	+0.119%	$596K	$246K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.5942	−0.042%	$2.8M	$1.6M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.5953	0.000%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.5995	+0.164%	$618K	$677K	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.5949	−0.015%	$21K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.5951	−0.006%	$99K	$346K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]short	L +0.0186% / S −15.6829%	1h	2.5985	+0.123%	$1K	—	100x