MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+15.6796%/8h= +17169.2% APRnext payment +$196.00 per $10,000 · paid last 24h +5.973%

Price spread now: GMX against Injective−0.562%7-day average — · you buy dearer than you sell

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

Long on Injective Short on GMX

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

Funding pays, the price is against you. GMX is 0.562% cheaper against Injective than usual: you would sell low and buy high (spread −0.562% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$56 on $10k: about under an hour of funding at the current rate (+$4,704 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective MORPHO/USDC PERP	2.6430	0.0033	pay 0.0004% / 1h	22m 46s	$37	$242K	5.5x
Short	GMX MORPHO/USD [ETH-USDC]	2.6282	L +0.0186% / S −15.6829%	get 1.9604% / 1h	22m 46s	$1K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Injective. 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 InjectivebpFee GMXbpOrdersPrice spread, now −0.562%Rate

Funding earned: $32,927.17
Price spread: −0.562% → 0.000%: −$56.16
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee GMX: 6 bp × 2 orders: −$12
Net: $32,858.98
Costs to cover: 0.120%
Break-even: 0.0 days

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

Injective and 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 26 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	−0.1909%	1h	2.6239	−0.723%	$80K	$128K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0625%	1h	2.6268	−0.613%	$11K	$785	10x	as long as short
01 Exchange MORPHOUSD	−0.0456%	1h	2.6253	−0.670%	$863	$10K	5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0232%	1h	2.6299	−0.496%	$75K	$42K	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0153%	4h	2.6257	−0.655%	$10K	$34K	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0112%	1h	2.6272	−0.598%	$32K	$1.8M	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6263	−0.630%	$16	—	10x	as long as short
GRVT MORPHO_USDT_Perp	+0.0022%	4h	2.6273	−0.593%	$32K	$142K	10x	as long as short
Phoenix MORPHO	+0.0030%	1h	2.6299	−0.496%	$43K	$426K	5x	as long as short
Injective MORPHO/USDC PERPlong	+0.0033%	1h	2.6430	long leg	$37	$242K	5.5x

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MORPHO	+0.0096%	1h	2.6304	−0.476%	$315K	$319K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6260	−0.643%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6334	−0.363%	$6.2M	$7.0M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6293	−0.520%	$57K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6282	−0.561%	$15.9M	$25.2M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6290	−0.530%	$8.3M	$9.3M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6308	−0.462%	$3.2M	$4.3M	20x	as long as short
Gate MORPHO_USDT	+0.0100%	4h	2.6290	−0.530%	$766K	$505K	50x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6288	−0.537%	$5.5M	$888K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6306	−0.469%	$597K	$255K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6299	−0.496%	$2.9M	$1.7M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6289	−0.533%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6281	−0.565%	$626K	$912K	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6265	−0.624%	$22K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6276	−0.582%	$101K	$355K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]short	L +0.0186% / S −15.6829%	1h	2.6282	−0.562%	$1K	—	100x