Funding you earn now, next payment 04:00 UTC−0.0386%/8h= −42.3% APRpaid last 24h −0.104%
Price spread now: BloFin against GMX−0.130%51s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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 −$12 a day on $10k at the current rate, and BloFin is 0.130% cheaper against GMX than usual: you would sell low and buy high (−$13 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX MORPHO/USD [ETH-USDC] | 2.6066 | L +0.0186% / S −15.6829% | pay 0.0023% / 1h | 42m 02s | $1K | — | 100x |
| Short | BloFin MORPHO-USDT | 2.6032 | −0.0200 | pay 0.0100% / 4h | 42m 02s | $638K | $239K | 20x |
GMX MORPHO/USD [ETH-USDC]
BloFin MORPHO-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against GMX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$81.14
- Price spread: −0.130% → 0.000%
- −$12.96
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$118.1
- Costs to cover
- 0.240%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; BloFin: live order book, 59 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 BloFin live order book, 59 min ago | 0.19 bp | 16.0 bp −$16 | 32.7 bp −$327 | 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 | 2.6020 | −0.174% | $81K | $128K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1284% | 1h | 2.6034 | −0.122% | $11K | $759 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.1024% | 1h | 2.5972 | −0.360% | $853 | $9K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0304% | 1h | 2.6048 | −0.068% | $25K | $1.7M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0268% | 4h | 2.6005 | −0.232% | $34K | $150K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0224% | 1h | 2.6172 | +0.407% | $75K | $42K | 25x | as long as short |
| BloFin MORPHO-USDTshort | −0.0200% | 4h | 2.6032 | −0.130% | $638K | $239K | 20x | |
| Orderly PERP_MORPHO_USDC | −0.0153% | 4h | 2.6041 | −0.095% | $10K | $34K | 10x | as long as short |
| Gate MORPHO_USDT | −0.0012% | 4h | 2.6060 | −0.022% | $762K | $482K | 50x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.6044 | −0.085% | $16 | — | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
Orderly PERP_MORPHO_USDC
Gate MORPHO_USDT
Reya MORPHORUSDPERPShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix MORPHO | 0.0000% | 1h | 2.6040 | −0.099% | $43K | $370K | 5x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +1.397% | $37 | $242K | 5.5x | as long as short |
| Bybit MORPHOUSDT | +0.0082% | 4h | 2.6064 | −0.007% | $8.2M | $9.2M | 25x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6077 | +0.043% | $313K | $309K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6029 | −0.139% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6094 | +0.108% | $6.1M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6072 | +0.023% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6042 | −0.091% | $15.7M | $25.2M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6070 | +0.016% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6030 | −0.137% | $5.9M | $809K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6090 | +0.093% | $592K | $251K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6040 | −0.099% | $2.8M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6065 | −0.003% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6035 | −0.117% | $621K | $829K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6033 | −0.126% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6030 | −0.137% | $100K | $350K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC]long | L +0.0186% / S −15.6829% | 1h | 2.6066 | long leg | $1K | — | 100x |
Phoenix MORPHO
Injective MORPHO/USDC PERP
Bybit MORPHOUSDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD