Funding you earn now, next payment 01:00 UTC−0.0238%/8h= −26.0% APRpaid last 24h +0.016%
Price spread now: Variational Omni against Reya−0.304%7-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 airdropReya: Active · Variational Omni: Active · farm boardneeds both histories
Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Variational Omni is 0.304% cheaper against Reya than usual: you would sell low and buy high (−$30 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Reya MORPHORUSDPERP | 2.6532 | −0.0004 | get 0.0001% / 1h | 42m 58s | $16 | — | 10x |
| Short | Variational Omni MORPHO | 2.6451 | −0.0242 | pay 0.0121% / 4h | 3h 42m | $628K | $1.0M | — |
Reya MORPHORUSDPERP
Variational Omni MORPHOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against Reya. 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
- −$49.88
- Price spread: −0.304% → 0.000%
- −$30.44
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$86.32
- Costs to cover
- 0.060%
- Break-even
- never at this rate
Slippage unknown: Reya: no order-book sample; 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 Reya no order-book sample | — | — | — | — | — |
| Sell Variational Omni RFQ quote, 1 min ago | 4.62 bp | doesn't fit | 52.3 bp −$523 | doesn't fit | doesn't fit |
Reya: 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 | −0.1835% | 1h | 2.6483 | −0.185% | $80K | $132K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.0472% | 1h | 2.6539 | +0.028% | $872 | $13K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0390% | 1h | 2.6535 | +0.013% | $11K | $785 | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0280% | 1h | 2.6554 | +0.084% | $76K | $43K | 25x | as long as short |
| Variational Omni MORPHOshort | −0.0242% | 4h | 2.6451 | −0.304% | $628K | $1.0M | — | |
| BloFin MORPHO-USDT | −0.0191% | 4h | 2.6518 | −0.051% | $639K | $229K | 20x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0166% | 1h | 2.6534 | +0.009% | $28K | $1.7M | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0141% | 4h | 2.6519 | −0.048% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6525 | −0.025% | $43K | $474K | 5x | as long as short |
| Reya MORPHORUSDPERPlong | −0.0004% | 1h | 2.6532 | long leg | $16 | — | 10x |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Polymarket Perps MORPHO-USD
Orderly PERP_MORPHO_USDC
Phoenix MORPHOShow 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 | −0.383% | $37 | $242K | 5.5x | as long as short |
| GRVT MORPHO_USDT_Perp | +0.0064% | 4h | 2.6465 | −0.252% | $41K | $133K | 10x | as long as short |
| MEXC MORPHO_USDT | +0.0094% | 4h | 2.6522 | −0.036% | $5.5M | $901K | 100x | as long as short |
| Binance MORPHOUSDT | +0.0096% | 4h | 2.6521 | −0.038% | $16.1M | $25.9M | 75x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6603 | +0.268% | $318K | $325K | 5x | as long as short |
| Extended MORPHO-USD | +0.0096% | 1h | 2.6526 | −0.021% | $108K | $414K | 10x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6523 | −0.033% | $5K | $3 | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6533 | +0.006% | $58K | $30K | 20x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6517 | −0.055% | $8.4M | $9.2M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6526 | −0.021% | $3.2M | $4.5M | 20x | as long as short |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.6514 | −0.067% | $767K | $516K | 50x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6524 | −0.029% | $594K | $266K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6531 | −0.002% | $2.9M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6516 | −0.059% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6530 | −0.006% | $22K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0158% / S −0.3418% | 1h | 2.6545 | +0.050% | $1K | — | 100x | as long as short |
| Hyperliquid MORPHO | +0.0347% | 1h | 2.6586 | +0.205% | $6.3M | $7.0M | 5x | as long as short |
Injective MORPHO/USDC PERP
GRVT MORPHO_USDT_Perp
MEXC MORPHO_USDT
Binance MORPHOUSDT
Lighter MORPHO
Extended MORPHO-USD
Paradex MORPHO-USD-PERP
Aster MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
Gate MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]
Hyperliquid MORPHO