Funding you earn now, next payment 02:00 UTC−0.0042%/8h= −4.6% APRpaid last 24h −0.013%
Price spread now: Variational Omni against Extended+0.010%7-day average +0.054% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.016%−$2 on $10k
+Price spread, last 3 days (all we have)−0.220%−$22 · spread now +0.010%, 7d avg +0.054%
=Together, before fees−0.236%+ Points / potential airdropExtended: Active · Variational Omni: Active · farm board−$24 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Variational Omni is 0.044% cheaper against Extended than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.054%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended MORPHO-USD | 2.6328 | 0.0104 | pay 0.0013% / 1h | 51m 11s | $101K | $358K | 10x |
| Short | Variational Omni MORPHO | 2.6331 | 0.0062 | get 0.0031% / 4h | 2h 51m | $627K | $925K | — |
Extended MORPHO-USD
Variational Omni MORPHOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against Extended. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$8.81
- Price spread: +0.010% → +0.054%
- −$4.38
- Slippage, 4 orders
- no order book: not counted
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$18.18
- Costs to cover
- 0.050%
- Break-even
- never at this rate
Slippage unknown: Extended: live order book, 16 min ago; Variational Omni: RFQ quote, 23 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 Extended live order book, 16 min ago | 3.19 bp | 23.5 bp −$23 | 237.2 bp −$2,372 | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 23 min ago | 4.60 bp | doesn't fit | 51.5 bp −$515 | 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 | −0.1903% | 1h | 2.6325 | −0.014% | $80K | $126K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0736% | 1h | 2.6346 | +0.067% | $11K | $785 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0688% | 1h | 2.6342 | +0.052% | $866 | $10K | 5x | as long as short |
| BloFin MORPHO-USDT | −0.0234% | 4h | 2.6322 | −0.024% | $642K | $237K | 20x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0232% | 1h | 2.6456 | +0.485% | $76K | $43K | 25x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0149% | 4h | 2.6327 | −0.005% | $10K | $34K | 10x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0116% | 4h | 2.6313 | −0.057% | $40K | $133K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0111% | 1h | 2.6335 | +0.025% | $47K | $1.8M | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6326 | −0.008% | $16 | — | 10x | as long as short |
| Gate MORPHO_USDT | +0.0004% | 4h | 2.6356 | +0.105% | $759K | $494K | 50x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
BloFin MORPHO-USDT
Coinbase International MORPHO-PERP-INTX
Orderly PERP_MORPHO_USDC
GRVT MORPHO_USDT_Perp
Polymarket Perps MORPHO-USD
Reya MORPHORUSDPERP
Gate MORPHO_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix MORPHO | +0.0030% | 1h | 2.6277 | −0.195% | $43K | $426K | 5x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +0.386% | $37 | $242K | 5.5x | as long as short |
| Variational Omni MORPHOshort | +0.0062% | 4h | 2.6331 | +0.010% | $627K | $925K | — | |
| Lighter MORPHO | +0.0096% | 1h | 2.6466 | +0.523% | $317K | $319K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6338 | +0.037% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6390 | +0.234% | $6.2M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6335 | +0.025% | $58K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6335 | +0.025% | $15.9M | $25.2M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6351 | +0.086% | $8.3M | $9.2M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6348 | +0.075% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6328 | −0.001% | $5.5M | $873K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6359 | +0.116% | $595K | $258K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6346 | +0.067% | $2.9M | $1.7M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6369 | +0.154% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6340 | +0.044% | $22K | $4K | 5x | as long as short |
| Extended MORPHO-USDlong | +0.0104% | 1h | 2.6328 | long leg | $101K | $358K | 10x | |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −0.4126% | 1h | 2.6354 | +0.098% | $1K | — | 100x | as long as short |
Phoenix MORPHO
Injective MORPHO/USDC PERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]