Funding you earn now, next payment 23:00 UTC−0.0842%/8h= −92.2% APRpaid last 24h −0.262%
Price spread now: Deribit against Variational Omni+0.070%7-day average — · 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)—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
The price spread pays, funding is against you. Deribit is 0.070% dearer against Variational Omni than usual: you sell high and buy low (spread +0.070% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$25 a day in funding at the current rate, which eats that in about 7 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Variational Omni MORPHO | 2.6401 | −0.0080 | get 0.0040% / 4h | 1h 02m | $627K | $1.2M | — |
| Short | Deribit MORPHO_USDC-PERPETUAL | 2.6420 | −0.0922 | pay 0.0115% / 1h | 2m 10s | $11K | $812 | 10x |
Variational Omni MORPHO
Deribit MORPHO_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$176.77
- Price spread: +0.070% → 0.000%
- $7.03
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$176.74
- Costs to cover
- 0.070%
- Break-even
- from the start
Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Deribit: no order-book sample. 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, 2 min ago | 4.62 bp | doesn't fit | 66.3 bp −$663 | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
Deribit: 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 | −0.016% | $81K | $152K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.1168% | 1h | 2.6364 | −0.142% | $866 | $12K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUALshort | −0.0922% | 1h | 2.6420 | +0.070% | $11K | $812 | 10x | |
| Polymarket Perps MORPHO-USD | −0.0676% | 1h | 2.6424 | +0.085% | $24K | $1.7M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0576% | 4h | 2.6390 | −0.044% | $29K | $134K | 10x | as long as short |
| Bybit MORPHOUSDT | −0.0419% | 4h | 2.6440 | +0.146% | $8.4M | $9.3M | 25x | as long as short |
| Injective MORPHO/USDC PERP | −0.0337% | 1h | 2.6430 | +0.108% | $37 | $242K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0312% | 1h | 2.6442 | +0.154% | $76K | $43K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0224% | 4h | 2.6420 | +0.070% | $640K | $249K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0145% | 4h | 2.6410 | +0.032% | $10K | $34K | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Bybit MORPHOUSDT
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDCShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | −0.0120% | 4h | 2.6438 | +0.138% | $768K | $534K | 50x | as long as short |
| Phoenix MORPHO | −0.0090% | 1h | 2.6435 | +0.127% | $43K | $484K | 5x | as long as short |
| Variational Omni MORPHOlong | −0.0080% | 4h | 2.6401 | long leg | $627K | $1.2M | — | |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6423 | +0.082% | $16 | — | 10x | as long as short |
| Extended MORPHO-USD | +0.0016% | 1h | 2.6403 | +0.005% | $103K | $301K | 10x | as long as short |
| Binance MORPHOUSDT | +0.0016% | 4h | 2.6414 | +0.048% | $16.1M | $25.8M | 75x | as long as short |
| MEXC MORPHO_USDT | +0.0016% | 4h | 2.6410 | +0.032% | $5.4M | $1.1M | 100x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6453 | +0.195% | $315K | $334K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6419 | +0.067% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6479 | +0.294% | $6.2M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6421 | +0.073% | $58K | $31K | 20x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6436 | +0.131% | $3.2M | $4.4M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6447 | +0.173% | $591K | $269K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6420 | +0.070% | $2.9M | $1.9M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6423 | +0.082% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6415 | +0.051% | $22K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −0.3373% | 1h | 2.6447 | +0.174% | $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]