MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.1435%/8h= −157.1% APRnext payment −$1.79 per $10,000 · paid last 24h −0.116%

Price spread now: Coinbase International against GMX−1.200%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 Coinbase International

What this pair did over the last

the charts below follow

Funding, last 4 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 −$43 a day on $10k at the current rate, and Coinbase International is 1.200% cheaper against GMX than usual: you would sell low and buy high (−$120 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]	2.5722	L +0.0187% / S −20.5458%	pay 0.0023% / 1h	30m 06s	$2K	—	100x
Short	Coinbase International MORPHO-PERP-INTX	2.5413	−0.1248	pay 0.0156% / 1h	30m 06s	$52K	$54K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −1.200%Rate

Funding earned: −$301.28
Price spread: −1.200% → 0.000%: −$119.98
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$443.26
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Coinbase International: 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 Coinbase International no order-book sample	—	—	—	—	—

GMX and Coinbase International: 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 exchanges

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
Coinbase International MORPHO-PERP-INTXshort	−0.1248%	1h	2.5413	−1.200%	$52K	$54K	25x
Deribit MORPHO_USDC-PERPETUAL	−0.1071%	1h	2.5706	−0.061%	$10K	$3K	10x	as long as short
01 Exchange MORPHOUSD	−0.0824%	1h	2.5661	−0.236%	$2K	$10K	5x	as long as short
Kraken Futures PF_MORPHOUSD	−0.0493%	1h	2.5696	−0.100%	$82K	$134K	20x	as long as short
Bybit MORPHOUSDT	−0.0295%	4h	2.5700	−0.084%	$7.7M	$7.4M	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0285%	4h	2.5700	−0.084%	$10K	$33K	10x	as long as short
GRVT MORPHO_USDT_Perp	−0.0214%	4h	2.5697	−0.097%	$38K	$114K	10x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.5697	−0.096%	$637K	$225K	20x	as long as short
Variational Omni MORPHO	−0.0143%	4h	2.5694	−0.107%	$611K	$202K	—	as long as short
Polymarket Perps MORPHO-USD	−0.0050%	1h	2.5717	−0.018%	$25K	$1.1M	5x	as long as short

Show all 27 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix MORPHO	−0.0031%	1h	2.5723	+0.005%	$33K	$287K	5x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.5690	−0.124%	$15	—	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+2.754%	$37	$242K	5.5x	as long as short
Aster MORPHOUSDT	+0.0069%	4h	2.5770	+0.187%	$56K	$51K	20x	as long as short
Lighter MORPHO	+0.0096%	1h	2.5733	+0.046%	$308K	$246K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.5688	−0.132%	$5K	$200	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.5749	+0.105%	$5.9M	$6.4M	5x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.5692	−0.115%	$15.3M	$22.4M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.5703	−0.072%	$3.1M	$4.1M	20x	as long as short
Gate MORPHO_USDT	+0.0100%	4h	2.5706	−0.061%	$752K	$459K	50x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.5697	−0.096%	$6.5M	$968K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.5710	−0.045%	$592K	$255K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.5698	−0.092%	$2.7M	$1.7M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.5694	−0.107%	—	$1.5M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.5699	−0.088%	$21K	$5K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.5691	−0.119%	$105K	$378K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]long	L +0.0187% / S −20.5458%	1h	2.5722	long leg	$2K	—	100x