Funding you earn now, next payment 04:00 UTC+0.0048%/8h= +5.2% APRnext payment +$0.24 per $10,000 · paid last 24h −0.016%
Price spread now: Bybit against Variational Omni+0.133%7-day average +0.034% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.016%−$2 on $10k
+Price spread, last 3 days (all we have)+0.167%+$17 · spread now +0.133%, 7d avg +0.034%
=Together, before fees+0.151%+ Points / potential airdropVariational Omni: Active · farm board+$15 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Bybit is 0.099% dearer against Variational Omni than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.034%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Variational Omni MORPHO | 2.6316 | 0.0052 | pay 0.0026% / 4h | 2h 51m | $627K | $925K | — |
| Short | Bybit MORPHOUSDT | 2.6351 | 0.0100 | get 0.0050% / 4h | 2h 51m | $8.3M | $9.2M | 25x |
Variational Omni MORPHO
Bybit MORPHOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Variational Omni. 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
- $10.02
- Price spread: +0.133% → +0.034%
- $9.92
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $8.94
- Costs to cover
- 0.110%
- Break-even
- 0.8 days
Slippage unknown: Variational Omni: RFQ quote, 22 min ago; Bybit: live order book, 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 Variational Omni RFQ quote, 22 min ago | 4.60 bp | doesn't fit | 57.8 bp −$578 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 1 min ago | 3.79 bp | 21.0 bp −$21 | 78.2 bp −$782 | 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 | −0.1902% | 1h | 2.6339 | +0.088% | $80K | $126K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.0760% | 1h | 2.6348 | +0.122% | $866 | $10K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0698% | 1h | 2.6352 | +0.137% | $11K | $785 | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0232% | 1h | 2.6456 | +0.532% | $76K | $43K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6320 | +0.015% | $642K | $235K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0148% | 4h | 2.6342 | +0.099% | $10K | $34K | 10x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0134% | 4h | 2.6301 | −0.057% | $40K | $133K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0114% | 1h | 2.6356 | +0.152% | $24K | $1.7M | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6346 | +0.116% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | +0.0030% | 1h | 2.6277 | −0.148% | $43K | $426K | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDC
GRVT MORPHO_USDT_Perp
Polymarket Perps MORPHO-USD
Reya MORPHORUSDPERP
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 | +0.433% | $37 | $242K | 5.5x | as long as short |
| Gate MORPHO_USDT | +0.0034% | 4h | 2.6339 | +0.088% | $760K | $493K | 50x | as long as short |
| Variational Omni MORPHOlong | +0.0052% | 4h | 2.6316 | long leg | $627K | $925K | — | |
| Lighter MORPHO | +0.0096% | 1h | 2.6457 | +0.536% | $317K | $319K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6360 | +0.169% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6398 | +0.312% | $6.2M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6347 | +0.118% | $58K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6349 | +0.124% | $15.9M | $25.2M | 75x | as long as short |
| Bybit MORPHOUSDTshort | +0.0100% | 4h | 2.6351 | +0.133% | $8.3M | $9.2M | 25x | |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6345 | +0.110% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6351 | +0.133% | $5.5M | $873K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6329 | +0.050% | $594K | $258K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6376 | +0.228% | $2.9M | $1.7M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6349 | +0.126% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6348 | +0.122% | $22K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6337 | +0.078% | $101K | $358K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −0.4126% | 1h | 2.6362 | +0.176% | $1K | — | 100x | as long as short |
Injective MORPHO/USDC PERP
Gate MORPHO_USDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]