MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0056%/8h= −6.2% APRnext payment −$0.07 per $10,000 · paid last 24h −0.115%

Price spread now: Polymarket Perps against GMX−0.016%54s7-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 Polymarket Perps

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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$2 a day on $10k at the current rate. The two prices were read 54 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]	2.5866	L +0.0156% / S −12.8912%	pay 0.0020% / 1h	50m 22s	$1K	—	100x
Short	Polymarket Perps MORPHO-USD	2.5862	0.0100	get 0.0013% / 1h	50m 22s	$25K	$1.4M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.016%Rate

Funding earned: −$11.86
Price spread: −0.016% → 0.000%: −$1.6
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$33.46
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Polymarket Perps: live order book, 13 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 Polymarket Perps live order book, 13 min ago	0.39 bp	4.4 bp −$4	7.1 bp −$71	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	−0.2463%	1h	2.5810	−0.215%	$84K	$134K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1218%	1h	2.5844	−0.086%	$11K	$3K	10x	as long as short
01 Exchange MORPHOUSD	−0.0872%	1h	2.5793	−0.283%	$848	$9K	5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0552%	1h	2.5747	−0.461%	$70K	$37K	25x	as long as short
Variational Omni MORPHO	−0.0439%	4h	2.5856	−0.040%	$615K	$526K	—	as long as short
BloFin MORPHO-USDT	−0.0405%	4h	2.5833	−0.128%	$632K	$239K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0282%	4h	2.5805	−0.236%	$10K	$34K	10x	as long as short
GRVT MORPHO_USDT_Perp	−0.0206%	4h	2.5780	−0.333%	$30K	$123K	10x	as long as short
Aster MORPHOUSDT	−0.0205%	4h	2.5815	−0.199%	$54K	$49K	20x	as long as short
Extended MORPHO-USD	−0.0168%	1h	2.5819	−0.181%	$99K	$375K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance MORPHOUSDT	−0.0165%	4h	2.5805	−0.236%	$15.5M	$23.9M	75x	as long as short
MEXC MORPHO_USDT	−0.0164%	4h	2.5823	−0.167%	$6.3M	$910K	100x	as long as short
Phoenix MORPHO	−0.0155%	1h	2.5835	−0.120%	$33K	$308K	5x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.5814	−0.202%	$15	—	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+2.180%	$37	$242K	5.5x	as long as short
Gate MORPHO_USDT	+0.0040%	4h	2.5848	−0.070%	$760K	$484K	50x	as long as short
Lighter MORPHO	+0.0096%	1h	2.5882	+0.063%	$312K	$283K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.5841	−0.099%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.5870	+0.015%	$6.0M	$7.0M	5x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.5830	−0.140%	$7.8M	$8.4M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.5822	−0.171%	$3.2M	$4.1M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.5850	−0.062%	$588K	$264K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.5818	−0.186%	$2.8M	$1.6M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.5827	−0.151%	—	$1.4M	—	as long as short
Polymarket Perps MORPHO-USDshort	+0.0100%	1h	2.5862	−0.016%	$25K	$1.4M	5x
SoDEX MORPHO-USD	+0.0100%	1h	2.5838	−0.109%	$21K	$5K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]long	L +0.0156% / S −12.8912%	1h	2.5866	long leg	$1K	—	100x