MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0558%/8h= +61.1% APRnext payment +$2.79 per $10,000 · paid last 24h +0.042%

Price spread now: Variational Omni against GRVT+0.074%7-day average +0.048% · you sell dearer than you buy

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

Long on GRVT Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.078%+$8 on $10k

Price spread, last 3 days (all we have)−0.024%−$2 · spread now +0.074%, 7d avg +0.048%

Together, before fees+0.054%+ Points / potential airdropGRVT: Active · Variational Omni: Active · farm board+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Variational Omni is 0.026% dearer against GRVT than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.048%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.078% in total (about 8.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.79 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	GRVT MORPHO_USDT_Perp	2.6428	−0.0572	get 0.0286% / 4h	1h 41m	$29K	$146K	10x
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 GRVT. 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 GRVTbpFee Variational OmnibpOrdersPrice spread, now +0.074%Rate

Funding earned: $117.11
Price spread: +0.074% → +0.048%: $2.58
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $110.7
Costs to cover: 0.090%
Break-even: 0.4 days

Slippage unknown: GRVT: live order book, 40 min ago; 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 GRVT live order book, 40 min ago	1.50 bp	17.8 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 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	+0.114%	$83K	$150K	20x	as long as short
01 Exchange MORPHOUSD	−0.1152%	1h	2.6412	−0.061%	$868	$13K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1147%	1h	2.6457	+0.110%	$11K	$911	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0616%	1h	2.6458	+0.114%	$26K	$1.7M	5x	as long as short
Bybit MORPHOUSDT	−0.0588%	4h	2.6466	+0.144%	$8.5M	$9.5M	25x	as long as short
GRVT MORPHO_USDT_Perplong	−0.0572%	4h	2.6428	long leg	$29K	$146K	10x
Injective MORPHO/USDC PERP	−0.0337%	1h	2.6430	+0.008%	$37	$242K	5.5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0312%	1h	2.6427	−0.004%	$76K	$43K	25x	as long as short
BloFin MORPHO-USDT	−0.0178%	4h	2.6433	+0.019%	$642K	$244K	20x	as long as short
Gate MORPHO_USDT	−0.0160%	4h	2.6479	+0.193%	$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	2.6442	+0.053%	$10K	$34K	10x	as long as short
Phoenix MORPHO	−0.0090%	1h	2.6514	+0.325%	$34K	$484K	5x	as long as short
Variational Omni MORPHOshort	−0.0014%	4h	2.6447	+0.074%	$628K	$1.2M	—
Reya MORPHORUSDPERP	−0.0004%	1h	2.6455	+0.103%	$16	—	10x	as long as short
Binance MORPHOUSDT	+0.0086%	4h	2.6455	+0.104%	$16.1M	$26.0M	75x	as long as short
Extended MORPHO-USD	+0.0088%	1h	2.6469	+0.157%	$103K	$301K	10x	as long as short
MEXC MORPHO_USDT	+0.0088%	4h	2.6457	+0.110%	$5.2M	$1.1M	100x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6519	+0.345%	$315K	$333K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6476	+0.182%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6517	+0.337%	$6.2M	$7.1M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6501	+0.275%	$58K	$33K	20x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6454	+0.098%	$3.2M	$4.4M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6481	+0.201%	$619K	$263K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6482	+0.204%	$2.9M	$1.9M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6470	+0.159%	—	$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	2.6490	+0.234%	$1K	—	100x	as long as short