MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0288%/8h= +31.5% APRpaid last 24h +0.047%

Price spread now: Variational Omni against Polymarket Perps+0.165%7-day average −0.035% · you sell dearer than you buy

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

Long on Polymarket Perps Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.060%+$6 on $10k

Price spread, last 3 days (all we have)−0.289%−$29 · spread now +0.165%, 7d avg −0.035%

Together, before fees−0.230%+ Points / potential airdropVariational Omni: Active · farm board−$23 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Variational Omni is 0.200% dearer against Polymarket Perps than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of −0.035%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.060% in total (about 6.8% a year). A funding rate is set anew for every payment. 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	Polymarket Perps MORPHO-USD	2.7020	−0.0188	get 0.0023% / 1h	30m 03s	$25K	$2.0M	5x
Short	Variational Omni MORPHO	2.7065	0.0100	get 0.0050% / 4h	3h 30m	$658K	$1.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Polymarket Perps. 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 Polymarket PerpsbpFee Variational OmnibpOrdersPrice spread, now +0.165%Rate

Funding earned: $60.4
Price spread: +0.165% → −0.035%: $20
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $72.4
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Polymarket Perps: live order book, 4 min ago; Variational Omni: RFQ quote, 5 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 Polymarket Perps live order book, 4 min ago	2.22 bp	6.8 bp −$7	7.7 bp −$77	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	4.57 bp	doesn't fit	68.4 bp −$684	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	−0.1753%	1h	2.6984	−0.134%	$85K	$152K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1081%	1h	2.7018	−0.007%	$11K	$721	10x	as long as short
01 Exchange MORPHOUSD	−0.0624%	1h	2.6987	−0.122%	$887	$12K	5x	as long as short
Injective MORPHO/USDC PERP	−0.0425%	1h	2.7020	0.000%	$38	$123K	5.5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0248%	4h	2.7111	+0.337%	$41K	$150K	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0240%	1h	2.7048	+0.104%	$78K	$47K	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0206%	4h	2.7005	−0.056%	$11K	$34K	10x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.7010	−0.037%	$655K	$219K	20x	as long as short
Polymarket Perps MORPHO-USDlong	−0.0188%	1h	2.7020	long leg	$25K	$2.0M	5x
Reya MORPHORUSDPERP	−0.0004%	1h	2.7020	+0.001%	$16	—	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MORPHO_USDT	+0.0058%	4h	2.7024	+0.015%	$774K	$534K	50x	as long as short
Phoenix MORPHO	+0.0059%	1h	2.7136	+0.429%	$35K	$471K	5x	as long as short
Lighter MORPHO	+0.0096%	1h	2.7077	+0.211%	$322K	$357K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.7019	−0.004%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.7081	+0.226%	$6.4M	$7.1M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.7018	−0.006%	$59K	$33K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.7003	−0.061%	$16.6M	$26.9M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.7041	+0.078%	$8.9M	$10.2M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.7034	+0.052%	$3.3M	$4.6M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.7005	−0.056%	$5.2M	$1.1M	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.7051	+0.115%	$609K	$274K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.7017	−0.011%	$3.0M	$2.0M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.7025	+0.019%	—	$1.4M	—	as long as short
Variational Omni MORPHOshort	+0.0100%	4h	2.7065	+0.165%	$658K	$1.4M	—
SoDEX MORPHO-USD	+0.0100%	1h	2.7013	−0.026%	$23K	$3K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.7003	−0.061%	$105K	$305K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0193% / S −16.5420%	1h	2.7036	+0.058%	$1K	—	100x	as long as short