MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0195%/8h= +21.4% APRpaid last 24h −0.048%

Price spread now: Variational Omni against Coinbase International−0.165%7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on Variational Omni

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 airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.165% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.165% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$17 on $10k: about 2.8 days of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MORPHO-PERP-INTX	2.6555	−0.0360	get 0.0045% / 1h	16m 16s	$76K	$43K	25x
Short	Variational Omni MORPHO	2.6511	−0.0165	pay 0.0082% / 4h	16m 16s	$629K	$1.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Coinbase InternationalbpFee Variational OmnibpOrdersPrice spread, now −0.165%Rate

Funding earned: $41.02
Price spread: −0.165% → 0.000%: −$16.51
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $14.51
Costs to cover: 0.100%
Break-even: 4.5 days

Slippage unknown: Coinbase International: no order-book sample; Variational Omni: RFQ quote, 3 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 3 min ago	6.49 bp	doesn't fit	64.9 bp −$649	doesn't fit	doesn't fit

Coinbase International: 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	−0.1754%	1h	2.6508	−0.177%	$81K	$143K	20x	as long as short
01 Exchange MORPHOUSD	−0.0856%	1h	2.6474	−0.305%	$870	$12K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0730%	1h	2.6509	−0.173%	$11K	$812	10x	as long as short
GRVT MORPHO_USDT_Perp	−0.0490%	4h	2.6537	−0.067%	$41K	$145K	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0462%	1h	2.6507	−0.181%	$28K	$1.7M	5x	as long as short
Injective MORPHO/USDC PERP	−0.0405%	1h	2.6430	−0.471%	$37	$242K	5.5x	as long as short
Coinbase International MORPHO-PERP-INTXlong	−0.0360%	1h	2.6555	long leg	$76K	$43K	25x
Bybit MORPHOUSDT	−0.0347%	4h	2.6499	−0.211%	$8.4M	$9.2M	25x	as long as short
BloFin MORPHO-USDT	−0.0209%	4h	2.6538	−0.064%	$637K	$253K	20x	as long as short
Variational Omni MORPHOshort	−0.0165%	4h	2.6511	−0.165%	$629K	$1.0M	—

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_MORPHO_USDC	−0.0145%	4h	2.6502	−0.200%	$10K	$34K	10x	as long as short
Gate MORPHO_USDT	−0.0072%	4h	2.6511	−0.166%	$771K	$532K	50x	as long as short
Phoenix MORPHO	−0.0060%	1h	2.6556	+0.004%	$44K	$477K	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6503	−0.196%	$16	—	10x	as long as short
MEXC MORPHO_USDT	+0.0030%	4h	2.6507	−0.181%	$5.5M	$961K	100x	as long as short
Extended MORPHO-USD	+0.0032%	1h	2.6500	−0.208%	$103K	$298K	10x	as long as short
Binance MORPHOUSDT	+0.0036%	4h	2.6505	−0.189%	$16.0M	$26.0M	75x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6555	−0.001%	$316K	$331K	5x	as long as short
Aster MORPHOUSDT	+0.0097%	4h	2.6515	−0.149%	$58K	$30K	20x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6528	−0.102%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6576	+0.079%	$6.3M	$7.0M	5x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6502	−0.200%	$3.2M	$4.5M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6532	−0.087%	$594K	$268K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6527	−0.105%	$2.9M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6506	−0.185%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6511	−0.166%	$22K	$4K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0158% / S −0.3418%	1h	2.6529	−0.098%	$1K	—	100x	as long as short