Funding you earn now, next payment 12:00 UTC+0.0345%/8h= +37.8% APRnext payment +$1.73 per $10,000 · paid last 24h +0.044%
Price spread now: OKX against Variational Omni+0.262%7-day average +0.013% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.044%+$4 on $10k
+Price spread, last 4 days (all we have)−0.309%−$31 · spread now +0.262%, 7d avg +0.013%
=Together, before fees−0.266%+ Points / potential airdropVariational Omni: Active · farm board−$27 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and OKX is 0.249% dearer against Variational Omni than usual: you sell high and buy low: +$25 more if the spread goes back to its 7-day average of +0.013%.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.044% in total (about 4.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.73 per $10,000. 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 | Variational Omni MORPHO | 2.6076 | −0.0245 | get 0.0123% / 4h | 3h 05m | $621K | $526K | — |
| Short | OKX MORPHO-USDT-SWAP | 2.6144 | 0.0100 | get 0.0050% / 4h | 3h 05m | $3.2M | $4.1M | 20x |
Variational Omni MORPHO
OKX MORPHO-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- $72.51
- Price spread: +0.262% → +0.013%
- $24.85
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- $87.37
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Variational Omni: RFQ quote, 34 min ago; OKX: live order book, 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 Variational Omni RFQ quote, 34 min ago | 4.67 bp | doesn't fit | 78.6 bp −$786 | doesn't fit | doesn't fit |
| Sell OKX live order book, 2 min ago | 0.38 bp | 16.3 bp −$16 | doesn't fit | 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 | −0.2434% | 1h | 2.6112 | +0.141% | $84K | $125K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0744% | 1h | 2.6119 | +0.166% | $11K | $3K | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0704% | 1h | 2.6086 | +0.040% | $857 | $9K | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0552% | 1h | 2.4299 | −6.814% | $66K | $35K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0346% | 4h | 2.6119 | +0.166% | $635K | $232K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0324% | 4h | 2.6109 | +0.128% | $10K | $34K | 10x | as long as short |
| Aster MORPHOUSDT | −0.0299% | 4h | 2.6107 | +0.121% | $57K | $50K | 20x | as long as short |
| Variational Omni MORPHOlong | −0.0245% | 4h | 2.6076 | long leg | $621K | $526K | — | |
| GRVT MORPHO_USDT_Perp | −0.0196% | 4h | 2.6067 | −0.034% | $39K | $136K | 10x | as long as short |
| Phoenix MORPHO | −0.0155% | 1h | 2.6083 | +0.028% | $33K | $308K | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDC
Aster MORPHOUSDT
GRVT MORPHO_USDT_Perp
Phoenix MORPHOShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC MORPHO_USDT | −0.0112% | 4h | 2.6113 | +0.143% | $6.4M | $935K | 100x | as long as short |
| Binance MORPHOUSDT | −0.0106% | 4h | 2.6125 | +0.189% | $15.7M | $23.2M | 75x | as long as short |
| Extended MORPHO-USD | −0.0104% | 1h | 2.6126 | +0.192% | $104K | $373K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.6078 | +0.010% | $16 | — | 10x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +1.359% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6212 | +0.522% | $315K | $284K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6101 | +0.098% | $5K | $203 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6154 | +0.300% | $6.0M | $7.0M | 5x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6137 | +0.235% | $7.9M | $8.3M | 25x | as long as short |
| OKX MORPHO-USDT-SWAPshort | +0.0100% | 4h | 2.6144 | +0.262% | $3.2M | $4.1M | 20x | |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.6123 | +0.181% | $766K | $490K | 50x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6130 | +0.208% | $575K | $270K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6111 | +0.135% | $2.8M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6121 | +0.174% | — | $1.4M | — | as long as short |
| Polymarket Perps MORPHO-USD | +0.0100% | 1h | 2.6120 | +0.170% | $25K | $1.3M | 5x | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6115 | +0.151% | $21K | $5K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0157% / S −12.8912% | 1h | 2.6102 | +0.099% | $1K | — | 100x | as long as short |
MEXC MORPHO_USDT
Binance MORPHOUSDT
Extended MORPHO-USD
Reya MORPHORUSDPERP
Injective MORPHO/USDC PERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Bybit MORPHOUSDT
Gate MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Polymarket Perps MORPHO-USD
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]