MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0086%/8h= −9.5% APRnext payment −$0.11 per $10,000 · paid last 24h −0.013%

Price spread now: SoDEX against GMX−0.072%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 SoDEX

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

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and SoDEX is 0.072% cheaper against GMX than usual: you would sell low and buy high (−$7 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]	2.6259	L +0.0186% / S −15.6829%	pay 0.0023% / 1h	9m 29s	$1K	—	100x
Short	SoDEX MORPHO-USD	2.6240	0.0100	get 0.0013% / 1h	9m 29s	$22K	$4K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.072%Rate

Funding earned: −$18.14
Price spread: −0.072% → 0.000%: −$7.2
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$45.34
Costs to cover: 0.200%
Break-even: never at this rate

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

GMX and SoDEX: 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	−0.1672%	1h	2.6210	−0.185%	$81K	$127K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1082%	1h	2.6234	−0.095%	$11K	$759	10x	as long as short
01 Exchange MORPHOUSD	−0.0712%	1h	2.6131	−0.487%	$859	$9K	5x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6232	−0.102%	$603K	$241K	20x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0192%	1h	2.6345	+0.328%	$75K	$42K	25x	as long as short
GRVT MORPHO_USDT_Perp	−0.0180%	4h	2.6270	+0.043%	$32K	$142K	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0171%	1h	2.6182	−0.293%	$25K	$1.7M	5x	as long as short
Orderly PERP_MORPHO_USDC	−0.0156%	4h	2.6230	−0.110%	$10K	$34K	10x	as long as short
Gate MORPHO_USDT	−0.0008%	4h	2.6237	−0.083%	$758K	$506K	50x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.6172	−0.331%	$16	—	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix MORPHO	0.0000%	1h	2.6287	+0.107%	$43K	$392K	5x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+0.652%	$37	$242K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6223	−0.135%	$314K	$308K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6167	−0.348%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6224	−0.133%	$6.1M	$6.9M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6229	−0.113%	$58K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6181	−0.297%	$15.8M	$25.3M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6182	−0.293%	$8.3M	$9.2M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6190	−0.262%	$3.2M	$4.3M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6164	−0.361%	$5.8M	$844K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6217	−0.160%	$595K	$252K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6203	−0.213%	$2.8M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6197	−0.236%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6260	+0.004%	$626K	$848K	—	as long as short
SoDEX MORPHO-USDshort	+0.0100%	1h	2.6240	−0.072%	$22K	$4K	5x
Extended MORPHO-USD	+0.0104%	1h	2.6177	−0.312%	$101K	$350K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]long	L +0.0186% / S −15.6829%	1h	2.6259	long leg	$1K	—	100x