MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0123%/8h= −13.5% APRnext payment −$0.15 per $10,000 · paid last 24h −0.068%

Price spread now: Injective against GMX+2.580%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Injective

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

The price spread pays, funding is against you. Injective is 2.580% dearer against GMX than usual: you sell high and buy low (spread +2.580% now, against zero (this spread has no 7-day history yet)): +$258 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX MORPHO/USD [ETH-USDC]	2.5765	L +0.0156% / S −12.8912%	pay 0.0020% / 1h	54m 42s	$1K	—	100x
Short	Injective MORPHO/USDC PERP	2.6430	0.0033	get 0.0004% / 1h	54m 42s	$37	$242K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +2.580%Rate

Funding earned: −$25.85
Price spread: +2.580% → 0.000%: $258.01
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $220.13
Costs to cover: 0.120%
Break-even: from the start

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

GMX and Injective: 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	−0.2475%	1h	2.5690	−0.292%	$84K	$134K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1263%	1h	2.5736	−0.113%	$10K	$3K	10x	as long as short
01 Exchange MORPHOUSD	−0.1024%	1h	2.5690	−0.292%	$844	$9K	5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0552%	1h	2.5579	−0.723%	$70K	$37K	25x	as long as short
Variational Omni MORPHO	−0.0458%	4h	2.5776	+0.041%	$614K	$526K	—	as long as short
BloFin MORPHO-USDT	−0.0413%	4h	2.5739	−0.102%	$635K	$238K	20x	as long as short
GRVT MORPHO_USDT_Perp	−0.0338%	4h	2.5774	+0.036%	$30K	$123K	10x	as long as short
Gate MORPHO_USDT	−0.0326%	4h	2.5778	+0.050%	$759K	$483K	50x	as long as short
Orderly PERP_MORPHO_USDC	−0.0275%	4h	2.5728	−0.145%	$10K	$34K	10x	as long as short
Aster MORPHOUSDT	−0.0198%	4h	2.5770	+0.018%	$54K	$49K	20x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix MORPHO	−0.0185%	1h	2.5793	+0.108%	$33K	$308K	5x	as long as short
Extended MORPHO-USD	−0.0176%	1h	2.5763	−0.010%	$99K	$375K	10x	as long as short
Binance MORPHOUSDT	−0.0173%	4h	2.5772	+0.026%	$15.5M	$24.0M	75x	as long as short
MEXC MORPHO_USDT	−0.0172%	4h	2.5772	+0.026%	$6.3M	$909K	100x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.5746	−0.076%	$15	—	10x	as long as short
Injective MORPHO/USDC PERPshort	+0.0033%	1h	2.6430	+2.580%	$37	$242K	5.5x
Lighter MORPHO	+0.0096%	1h	2.5786	+0.079%	$311K	$283K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.5714	−0.199%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.5823	+0.224%	$5.9M	$7.0M	5x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.5796	+0.119%	$7.8M	$8.4M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.5782	+0.065%	$3.2M	$4.1M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.5783	+0.069%	$586K	$264K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.5788	+0.088%	$2.8M	$1.7M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.5795	+0.116%	—	$1.4M	—	as long as short
Polymarket Perps MORPHO-USD	+0.0100%	1h	2.5767	+0.007%	$25K	$1.4M	5x	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.5748	−0.067%	$21K	$5K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]long	L +0.0156% / S −12.8912%	1h	2.5765	long leg	$1K	—	100x