MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0342%/8h= −37.4% APRnext payment −$1.71 per $10,000 · paid last 24h −0.015%

Price spread now: Variational Omni against KuCoin−0.276%7-day average −0.033% · you buy dearer than you sell

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

Long on KuCoin Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.015%−$2 on $10k

Price spread, last 3 days (all we have)+0.088%+$9 · spread now −0.276%, 7d avg −0.033%

Together, before fees+0.072%+ Points / potential airdropVariational Omni: Active · farm board+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Variational Omni is 0.243% cheaper against KuCoin than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of −0.033%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.015% in total (about -1.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.71 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	KuCoin MORPHOUSDTM	2.6524	0.0100	pay 0.0050% / 4h	3h 42m	$594K	$266K	50x
Short	Variational Omni MORPHO	2.6451	−0.0242	pay 0.0121% / 4h	3h 42m	$628K	$1.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against KuCoin. 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 KuCoinbpFee Variational OmnibpOrdersPrice spread, now −0.276%Rate

Funding earned: −$71.82
Price spread: −0.276% → −0.033%: −$24.28
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$108.1
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 10 min ago; Variational Omni: RFQ quote, 1 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 KuCoin live order book, 10 min ago	8.87 bp	62.5 bp −$62	172.0 bp −$1,720	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	4.62 bp	doesn't fit	52.3 bp −$523	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	−0.1835%	1h	2.6483	−0.156%	$80K	$132K	20x	as long as short
01 Exchange MORPHOUSD	−0.0472%	1h	2.6539	+0.057%	$872	$13K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0390%	1h	2.6535	+0.041%	$11K	$785	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0280%	1h	2.6554	+0.113%	$76K	$43K	25x	as long as short
Variational Omni MORPHOshort	−0.0242%	4h	2.6451	−0.276%	$628K	$1.0M	—
BloFin MORPHO-USDT	−0.0191%	4h	2.6518	−0.023%	$639K	$229K	20x	as long as short
Polymarket Perps MORPHO-USD	−0.0166%	1h	2.6534	+0.038%	$28K	$1.7M	5x	as long as short
Orderly PERP_MORPHO_USDC	−0.0141%	4h	2.6519	−0.019%	$10K	$34K	10x	as long as short
Phoenix MORPHO	−0.0030%	1h	2.6525	+0.004%	$43K	$474K	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6532	+0.029%	$16	—	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	−0.354%	$37	$242K	5.5x	as long as short
GRVT MORPHO_USDT_Perp	+0.0064%	4h	2.6465	−0.223%	$41K	$133K	10x	as long as short
MEXC MORPHO_USDT	+0.0094%	4h	2.6518	−0.023%	$5.5M	$902K	100x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6606	+0.308%	$318K	$325K	5x	as long as short
Extended MORPHO-USD	+0.0096%	1h	2.6516	−0.029%	$106K	$417K	10x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6538	+0.051%	$5K	$3	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6528	+0.015%	$58K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6522	−0.008%	$16.1M	$25.9M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6512	−0.045%	$8.3M	$9.2M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6531	+0.026%	$3.2M	$4.5M	20x	as long as short
Gate MORPHO_USDT	+0.0100%	4h	2.6529	+0.019%	$768K	$516K	50x	as long as short
KuCoin MORPHOUSDTMlong	+0.0100%	4h	2.6524	long leg	$594K	$266K	50x
Bitget MORPHOUSDT	+0.0100%	4h	2.6531	+0.026%	$2.9M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6520	−0.015%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6530	+0.023%	$22K	$4K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0158% / S −0.3418%	1h	2.6545	+0.079%	$1K	—	100x	as long as short
Hyperliquid MORPHO	+0.0348%	1h	2.6588	+0.240%	$6.3M	$7.0M	5x	as long as short