Funding you earn now, next payment 00:00 UTC+0.0065%/8h= +7.1% APRnext payment +$0.32 per $10,000 · paid last 24h +0.065%
Price spread now: Variational Omni against Orderly−0.032%48s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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 0.032% cheaper against Orderly than usual: you would sell low and buy high (spread −0.032% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 40 hours of funding at the current rate (+$2 a day). The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_MORPHO_USDC | 2.6410 | −0.0145 | get 0.0072% / 4h | 1h 01m | $10K | $34K | 10x |
| Short | Variational Omni MORPHO | 2.6401 | −0.0080 | pay 0.0040% / 4h | 1h 01m | $627K | $1.2M | — |
Orderly PERP_MORPHO_USDC
Variational Omni MORPHOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against Orderly. 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
- $13.56
- Price spread: −0.032% → 0.000%
- −$3.24
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- $4.32
- Costs to cover
- 0.060%
- Break-even
- 4.8 days
Slippage unknown: Orderly: no order-book sample; 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Variational Omni RFQ quote, 2 min ago | 4.62 bp | doesn't fit | 68.9 bp −$689 | doesn't fit | doesn't fit |
Orderly: 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 | −0.1859% | 1h | 2.6397 | −0.049% | $81K | $152K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.1160% | 1h | 2.6375 | −0.133% | $867 | $12K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0922% | 1h | 2.6420 | +0.038% | $11K | $812 | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0676% | 1h | 2.6424 | +0.053% | $24K | $1.7M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0576% | 4h | 2.6390 | −0.076% | $29K | $134K | 10x | as long as short |
| Bybit MORPHOUSDT | −0.0404% | 4h | 2.6434 | +0.091% | $8.4M | $9.3M | 25x | as long as short |
| Injective MORPHO/USDC PERP | −0.0337% | 1h | 2.6430 | +0.076% | $37 | $242K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0312% | 1h | 2.6442 | +0.121% | $76K | $43K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0224% | 4h | 2.6420 | +0.038% | $640K | $249K | 20x | as long as short |
| Orderly PERP_MORPHO_USDClong | −0.0145% | 4h | 2.6410 | long leg | $10K | $34K | 10x |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Bybit MORPHOUSDT
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | −0.0118% | 4h | 2.6438 | +0.106% | $768K | $534K | 50x | as long as short |
| Phoenix MORPHO | −0.0090% | 1h | 2.6435 | +0.095% | $43K | $484K | 5x | as long as short |
| Variational Omni MORPHOshort | −0.0080% | 4h | 2.6401 | −0.032% | $627K | $1.2M | — | |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6423 | +0.050% | $16 | — | 10x | as long as short |
| Extended MORPHO-USD | +0.0016% | 1h | 2.6415 | +0.020% | $103K | $301K | 10x | as long as short |
| Binance MORPHOUSDT | +0.0016% | 4h | 2.6420 | +0.039% | $16.1M | $25.8M | 75x | as long as short |
| MEXC MORPHO_USDT | +0.0016% | 4h | 2.6421 | +0.042% | $5.4M | $1.1M | 100x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6463 | +0.199% | $315K | $334K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6423 | +0.051% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6494 | +0.318% | $6.2M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6427 | +0.063% | $58K | $31K | 20x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6420 | +0.038% | $3.2M | $4.4M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6442 | +0.121% | $592K | $269K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6435 | +0.095% | $2.9M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6431 | +0.080% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6415 | +0.019% | $22K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −0.3373% | 1h | 2.6447 | +0.141% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Phoenix MORPHO
Reya MORPHORUSDPERP
Extended MORPHO-USD
Binance MORPHOUSDT
MEXC MORPHO_USDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]