MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0083%/8h= −9.0% APRnext payment −$0.10 per $10,000 · paid last 24h −0.014%

Price spread now: Extended against GMX−0.105%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 Extended

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 airdropExtended: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Extended is 0.105% cheaper against GMX than usual: you would sell low and buy high (−$10 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]	2.6722	L +0.0187% / S −0.4126%	pay 0.0023% / 1h	9m 53s	$1K	—	100x
Short	Extended MORPHO-USD	2.6694	0.0104	get 0.0013% / 1h	9m 53s	$102K	$362K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.105%Rate

Funding earned: −$17.33
Price spread: −0.105% → 0.000%: −$10.48
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$44.82
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Extended: live order book, 63 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 Extended live order book, 63 min ago	2.45 bp	22.3 bp −$22	189.5 bp −$1,895	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	−0.1822%	1h	2.6670	−0.196%	$81K	$125K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0610%	1h	2.6711	−0.042%	$11K	$785	10x	as long as short
01 Exchange MORPHOUSD	−0.0424%	1h	2.6710	−0.046%	$878	$13K	5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0280%	1h	2.6715	−0.027%	$77K	$43K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6675	−0.177%	$643K	$232K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0145%	4h	2.6694	−0.106%	$10K	$34K	10x	as long as short
Phoenix MORPHO	−0.0030%	1h	2.6758	+0.134%	$44K	$474K	5x	as long as short
Variational Omni MORPHO	−0.0029%	4h	2.6676	−0.174%	$636K	$926K	—	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6717	−0.021%	$16	—	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0003%	1h	2.6717	−0.019%	$25K	$1.7M	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MORPHO_USDT_Perp	+0.0028%	4h	2.6704	−0.068%	$41K	$133K	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	−1.094%	$37	$242K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6797	+0.278%	$321K	$325K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6692	−0.111%	$5K	$3	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6706	−0.059%	$58K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6702	−0.076%	$16.2M	$25.5M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6710	−0.046%	$8.6M	$9.0M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6712	−0.038%	$3.2M	$4.4M	20x	as long as short
Gate MORPHO_USDT	+0.0100%	4h	2.6700	−0.083%	$771K	$525K	50x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6688	−0.128%	$5.6M	$905K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6710	−0.046%	$601K	$262K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6706	−0.061%	$3.0M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6711	−0.042%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6695	−0.102%	$22K	$4K	5x	as long as short
Extended MORPHO-USDshort	+0.0104%	1h	2.6694	−0.105%	$102K	$362K	10x
GMX MORPHO/USD [ETH-USDC]long	L +0.0187% / S −0.4126%	1h	2.6722	long leg	$1K	—	100x
Hyperliquid MORPHO	+0.0357%	1h	2.6755	+0.123%	$6.3M	$7.0M	5x	as long as short