MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+12.8201%/8h= +14038.0% APRnext payment +$160.25 per $10,000 · paid last 24h +4.225%

Price spread now: GMX against Reya+0.154%7-day average — · you sell dearer than you buy

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

Long on Reya 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—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$3,846 a day on $10k at the current rate, and GMX is 0.154% dearer against Reya than usual: you sell high and buy low: +$15 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	Reya MORPHORUSDPERP	2.6515	−0.0004	get 0.0001% / 1h	7m 17s	$16	—	10x
Short	GMX MORPHO/USD [ETH-USDC]	2.6556	L +0.0188% / S −12.8197%	get 1.6025% / 1h	7m 17s	$1K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Reya. 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 ReyabpFee GMXbpOrdersPrice spread, now +0.154%Rate

Funding earned: $26,922.22
Price spread: +0.154% → 0.000%: $15.36
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: $26,919.58
Costs to cover: 0.180%
Break-even: 0.0 days

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

Reya 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 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	−0.2055%	1h	2.6527	+0.046%	$83K	$148K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1406%	1h	2.6523	+0.029%	$11K	$911	10x	as long as short
01 Exchange MORPHOUSD	−0.0936%	1h	2.6442	−0.276%	$869	$13K	5x	as long as short
Bybit MORPHOUSDT	−0.0496%	4h	2.6520	+0.018%	$8.6M	$9.8M	25x	as long as short
Polymarket Perps MORPHO-USD	−0.0489%	1h	2.6514	−0.004%	$26K	$1.8M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0482%	4h	2.6518	+0.011%	$29K	$154K	10x	as long as short
Injective MORPHO/USDC PERP	−0.0385%	1h	2.6610	+0.358%	$37	$198K	5.5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0296%	1h	2.6617	+0.384%	$77K	$45K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6516	+0.003%	$648K	$222K	20x	as long as short
Gate MORPHO_USDT	−0.0176%	4h	2.6536	+0.079%	$774K	$548K	50x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_MORPHO_USDC	−0.0166%	4h	2.6528	+0.048%	$10K	$34K	10x	as long as short
Phoenix MORPHO	−0.0030%	1h	2.6540	+0.094%	$34K	$493K	5x	as long as short
Reya MORPHORUSDPERPlong	−0.0004%	1h	2.6515	long leg	$16	—	10x
Lighter MORPHO	+0.0096%	1h	2.6580	+0.244%	$316K	$338K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6514	−0.005%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6583	+0.255%	$6.2M	$7.1M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6558	+0.161%	$58K	$33K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6508	−0.027%	$16.2M	$26.6M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6530	+0.056%	$3.2M	$4.4M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6513	−0.008%	$5.5M	$1.2M	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6527	+0.045%	$620K	$268K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6531	+0.060%	$2.9M	$1.9M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6533	+0.067%	—	$1.5M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6494	−0.079%	$644K	$1.2M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6513	−0.008%	$22K	$3K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6510	−0.020%	$103K	$301K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]short	L +0.0188% / S −12.8197%	1h	2.6556	+0.154%	$1K	—	100x