MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0191%/8h= −20.9% APRnext payment −$0.24 per $10,000 · paid last 24h −0.043%

Price spread now: Reya against GMX−0.082%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 Reya

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 airdropReya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Reya is 0.082% cheaper against GMX than usual: you would sell low and buy high (−$8 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]	2.6338	L +0.0186% / S −0.4126%	pay 0.0023% / 1h	47m 56s	$1K	—	100x
Short	Reya MORPHORUSDPERP	2.6316	−0.0004	pay 0.0001% / 1h	47m 56s	$16	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.082%Rate

Funding earned: −$40.09
Price spread: −0.082% → 0.000%: −$8.24
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: −$66.33
Costs to cover: 0.180%
Break-even: never at this rate

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

GMX and Reya: 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	−0.1905%	1h	2.6297	−0.155%	$80K	$126K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0736%	1h	2.6337	−0.003%	$11K	$785	10x	as long as short
01 Exchange MORPHOUSD	−0.0568%	1h	2.6340	+0.008%	$866	$11K	5x	as long as short
BloFin MORPHO-USDT	−0.0237%	4h	2.6347	+0.035%	$643K	$238K	20x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0232%	1h	2.6471	+0.506%	$76K	$43K	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0150%	4h	2.6337	−0.003%	$10K	$34K	10x	as long as short
GRVT MORPHO_USDT_Perp	−0.0116%	4h	2.6313	−0.093%	$40K	$133K	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0112%	1h	2.6355	+0.065%	$45K	$1.8M	5x	as long as short
Reya MORPHORUSDPERPshort	−0.0004%	1h	2.6316	−0.082%	$16	—	10x
Gate MORPHO_USDT	+0.0018%	4h	2.6351	+0.050%	$759K	$494K	50x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix MORPHO	+0.0030%	1h	2.6422	+0.320%	$43K	$426K	5x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+0.350%	$37	$242K	5.5x	as long as short
Variational Omni MORPHO	+0.0062%	4h	2.6331	−0.026%	$627K	$925K	—	as long as short
Lighter MORPHO	+0.0096%	1h	2.6465	+0.482%	$317K	$319K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6346	+0.031%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6395	+0.217%	$6.2M	$6.9M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6374	+0.137%	$58K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6360	+0.084%	$15.9M	$25.1M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6380	+0.160%	$8.3M	$9.2M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6388	+0.190%	$3.2M	$4.3M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6378	+0.153%	$5.5M	$874K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6383	+0.172%	$596K	$255K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6380	+0.160%	$2.9M	$1.7M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6342	+0.016%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6338	+0.001%	$22K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6373	+0.133%	$101K	$358K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]long	L +0.0186% / S −0.4126%	1h	2.6338	long leg	$1K	—	100x