MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0218%/8h= −23.9% APRnext payment −$0.27 per $10,000 · paid last 24h −0.042%

Price spread now: Phoenix against GMX+0.016%65s7-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 Phoenix

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$7 a day on $10k at the current rate. The two prices were read 65 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]	2.6543	L +0.0158% / S −0.3418%	pay 0.0020% / 1h	57m 48s	$1K	—	100x
Short	Phoenix MORPHO	2.6547	−0.0060	pay 0.0008% / 1h	57m 48s	$43K	$471K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.016%Rate

Funding earned: −$45.83
Price spread: +0.016% → 0.000%: $1.62
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$63.21
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Phoenix: live order book, 14 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 Phoenix live order book, 14 min ago	1.13 bp	13.0 bp −$13	44.5 bp −$445	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
Bybit MORPHOUSDT	−0.2320%	4h	2.6492	−0.191%	$8.4M	$9.3M	25x	as long as short
Kraken Futures PF_MORPHOUSD	−0.1836%	1h	2.6477	−0.246%	$81K	$139K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1068%	1h	2.6514	−0.108%	$11K	$788	10x	as long as short
01 Exchange MORPHOUSD	−0.0960%	1h	2.6463	−0.300%	$870	$12K	5x	as long as short
Polymarket Perps MORPHO-USD	−0.0677%	1h	2.6506	−0.138%	$28K	$1.7M	5x	as long as short
Gate MORPHO_USDT	−0.0528%	4h	2.6520	−0.085%	$768K	$515K	50x	as long as short
GRVT MORPHO_USDT_Perp	−0.0444%	4h	2.6547	+0.015%	$41K	$146K	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0280%	1h	2.6558	+0.058%	$76K	$43K	25x	as long as short
Variational Omni MORPHO	−0.0209%	4h	2.6531	−0.042%	$631K	$1.0M	—	as long as short
BloFin MORPHO-USDT	−0.0204%	4h	2.6519	−0.089%	$638K	$239K	20x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_MORPHO_USDC	−0.0146%	4h	2.6507	−0.134%	$10K	$34K	10x	as long as short
Phoenix MORPHOshort	−0.0060%	1h	2.6547	+0.016%	$43K	$471K	5x
Reya MORPHORUSDPERP	−0.0004%	1h	2.6510	−0.123%	$16	—	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	−0.425%	$37	$242K	5.5x	as long as short
Extended MORPHO-USD	+0.0064%	1h	2.6492	−0.191%	$103K	$295K	10x	as long as short
MEXC MORPHO_USDT	+0.0064%	4h	2.6494	−0.183%	$5.5M	$899K	100x	as long as short
Binance MORPHOUSDT	+0.0065%	4h	2.6483	−0.223%	$16.0M	$26.0M	75x	as long as short
Aster MORPHOUSDT	+0.0069%	4h	2.6541	−0.005%	$58K	$30K	20x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6558	+0.057%	$316K	$324K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6487	−0.210%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6570	+0.104%	$6.3M	$7.0M	5x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6501	−0.157%	$3.2M	$4.5M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6547	+0.016%	$595K	$267K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6528	−0.055%	$2.9M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6522	−0.078%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6502	−0.153%	$22K	$4K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]long	L +0.0158% / S −0.3418%	1h	2.6543	long leg	$1K	—	100x