Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+12.8812%/8h= +14104.9% APRpaid last 24h +19.211%

Price spread now: GMX against KuCoin+0.107%7-day average — · you sell dearer than you buy

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

Long on KuCoin Short on GMX

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

Both sides work for this trade now. Funding pays +$3,864 a day on $10k at the current rate, and GMX is 0.107% dearer against KuCoin than usual: you sell high and buy low: +$11 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MORPHOUSDTM	2.5675	0.0100	pay 0.0050% / 4h	3h 30m	$585K	$263K	50x
Short	GMX MORPHO/USD [ETH-USDC]	2.5702	L +0.0156% / S −12.8912%	get 1.6114% / 1h	30m 44s	$1K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against KuCoin. 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 KuCoinbpFee GMXbpOrdersPrice spread, now +0.107%Rate

Funding earned: $27,050.45
Price spread: +0.107% → 0.000%: $10.68
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $27,037.13
Costs to cover: 0.240%
Break-even: 0.0 days

Slippage unknown: KuCoin: live order book, 64 min ago; 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 KuCoin live order book, 64 min ago	10.65 bp	58.9 bp −$59	166.2 bp −$1,662	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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	−0.2481%	1h	2.5626	−0.192%	$84K	$135K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1190%	1h	2.5661	−0.055%	$10K	$3K	10x	as long as short
01 Exchange MORPHOUSD	−0.0856%	1h	2.5633	−0.164%	$842	$9K	5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0552%	1h	2.5703	+0.109%	$70K	$37K	25x	as long as short
GRVT MORPHO_USDT_Perp	−0.0486%	4h	2.5752	+0.299%	$30K	$123K	10x	as long as short
BloFin MORPHO-USDT	−0.0424%	4h	2.5677	+0.008%	$630K	$238K	20x	as long as short
Variational Omni MORPHO	−0.0410%	4h	2.5696	+0.081%	$612K	$526K	—	as long as short
Gate MORPHO_USDT	−0.0382%	4h	2.5662	−0.051%	$754K	$485K	50x	as long as short
Bybit MORPHOUSDT	−0.0326%	4h	2.5680	+0.019%	$7.8M	$8.4M	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0314%	4h	2.5654	−0.082%	$10K	$34K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MORPHOUSDT	−0.0312%	4h	2.5712	+0.146%	$54K	$49K	20x	as long as short
Binance MORPHOUSDT	−0.0191%	4h	2.5668	−0.027%	$15.4M	$23.9M	75x	as long as short
Extended MORPHO-USD	−0.0184%	1h	2.5661	−0.054%	$98K	$370K	10x	as long as short
MEXC MORPHO_USDT	−0.0172%	4h	2.5669	−0.023%	$6.3M	$925K	100x	as long as short
Phoenix MORPHO	−0.0155%	1h	2.5779	+0.405%	$33K	$308K	5x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.5684	+0.035%	$15	—	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+2.941%	$37	$242K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	2.5711	+0.141%	$310K	$283K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.5662	−0.050%	$5K	$203	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.5714	+0.152%	$5.9M	$7.0M	5x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.5674	−0.004%	$3.2M	$4.1M	20x	as long as short
KuCoin MORPHOUSDTMlong	+0.0100%	4h	2.5675	long leg	$585K	$263K	50x
Bitget MORPHOUSDT	+0.0100%	4h	2.5646	−0.113%	$2.8M	$1.7M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.5683	+0.031%	—	$1.5M	—	as long as short
Polymarket Perps MORPHO-USD	+0.0100%	1h	2.5726	+0.199%	$25K	$1.3M	5x	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.5666	−0.035%	$21K	$5K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]short	L +0.0156% / S −12.8912%	1h	2.5702	+0.107%	$1K	—	100x