MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0577%/8h= +63.2% APRnext payment +$2.88 per $10,000 · paid last 24h +0.009%

Price spread now: Variational Omni against Bybit−0.123%7-day average −0.034% · you buy dearer than you sell

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

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.009%+$1 on $10k

Price spread, last 3 days (all we have)+0.100%+$10 · spread now −0.123%, 7d avg −0.034%

Together, before fees+0.109%+ Points / potential airdropVariational Omni: Active · farm board+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.088% cheaper against Bybit than usual: you would sell low and buy high (spread −0.123% now, against its 7-day average of −0.034%). If the spread goes back, that is −$9 on $10k: about 12 hours of funding at the current rate (+$17 a day). At the pace of the last 3 days (+0.009% in total) that is about 33 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.009% in total (about 1.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.88 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MORPHOUSDT	2.6480	−0.0591	get 0.0296% / 4h	1h 41m	$8.5M	$9.5M	25x
Short	Variational Omni MORPHO	2.6447	−0.0014	pay 0.0007% / 4h	1h 41m	$628K	$1.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. 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 BybitbpFee Variational OmnibpOrdersPrice spread, now −0.123%Rate

Funding earned: $121.12
Price spread: −0.123% → −0.034%: −$8.85
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $101.27
Costs to cover: 0.110%
Break-even: 1.1 days

Slippage unknown: Bybit: live order book, 1 min ago; Variational Omni: RFQ quote, 2 min ago. 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 Bybit live order book, 1 min ago	1.89 bp	19.3 bp −$19	72.3 bp −$723	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	6.49 bp	doesn't fit	66.2 bp −$662	doesn't fit	doesn't fit

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	−0.1855%	1h	2.6458	−0.082%	$83K	$150K	20x	as long as short
01 Exchange MORPHOUSD	−0.1152%	1h	2.6408	−0.272%	$868	$13K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1147%	1h	2.6457	−0.087%	$11K	$911	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0608%	1h	2.6463	−0.064%	$26K	$1.7M	5x	as long as short
Bybit MORPHOUSDTlong	−0.0591%	4h	2.6480	long leg	$8.5M	$9.5M	25x
GRVT MORPHO_USDT_Perp	−0.0572%	4h	2.6428	−0.196%	$29K	$146K	10x	as long as short
Injective MORPHO/USDC PERP	−0.0337%	1h	2.6430	−0.189%	$37	$242K	5.5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0312%	1h	2.6427	−0.200%	$76K	$43K	25x	as long as short
BloFin MORPHO-USDT	−0.0178%	4h	2.6433	−0.177%	$642K	$244K	20x	as long as short
Gate MORPHO_USDT	−0.0166%	4h	2.6485	+0.019%	$771K	$530K	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	−0.0155%	4h	2.6451	−0.110%	$10K	$34K	10x	as long as short
Phoenix MORPHO	−0.0090%	1h	2.6468	−0.045%	$34K	$484K	5x	as long as short
Variational Omni MORPHOshort	−0.0014%	4h	2.6447	−0.123%	$628K	$1.2M	—
Reya MORPHORUSDPERP	−0.0004%	1h	2.6466	−0.052%	$16	—	10x	as long as short
Extended MORPHO-USD	+0.0088%	1h	2.6457	−0.086%	$103K	$301K	10x	as long as short
MEXC MORPHO_USDT	+0.0088%	4h	2.6478	−0.008%	$5.2M	$1.1M	100x	as long as short
Binance MORPHOUSDT	+0.0089%	4h	2.6462	−0.067%	$16.1M	$26.1M	75x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6495	+0.055%	$315K	$333K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6451	−0.108%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6508	+0.106%	$6.2M	$7.1M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6480	−0.001%	$58K	$33K	20x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6480	0.000%	$3.2M	$4.4M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6480	0.000%	$619K	$263K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6468	−0.045%	$2.9M	$1.9M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6461	−0.072%	—	$1.5M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6454	−0.098%	$22K	$3K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0188% / S −12.8197%	1h	2.6500	+0.077%	$1K	—	100x	as long as short