MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0020%/8h= +2.2% APRnext payment +$0.10 per $10,000 · paid last 24h −0.065%

Price spread now: Orderly against Variational Omni−0.035%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Orderly

What this pair did over the last

the charts below follow

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

Funding pays, the price is against you. Orderly is 0.035% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.035% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 5.8 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MORPHO	2.6511	−0.0165	get 0.0082% / 4h	16m 16s	$629K	$1.0M	—
Short	Orderly PERP_MORPHO_USDC	2.6502	−0.0145	pay 0.0072% / 4h	16m 16s	$10K	$34K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 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 Variational OmnibpFee OrderlybpOrdersPrice spread, now −0.035%Rate

Funding earned: $4.17
Price spread: −0.035% → 0.000%: −$3.45
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$5.28
Costs to cover: 0.060%
Break-even: 15.9 days

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Orderly: 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, 3 min ago	6.49 bp	doesn't fit	68.4 bp −$684	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	−0.1754%	1h	2.6508	−0.012%	$81K	$143K	20x	as long as short
01 Exchange MORPHOUSD	−0.0856%	1h	2.6474	−0.140%	$870	$12K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0730%	1h	2.6509	−0.008%	$11K	$812	10x	as long as short
GRVT MORPHO_USDT_Perp	−0.0490%	4h	2.6537	+0.098%	$41K	$145K	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0462%	1h	2.6507	−0.016%	$28K	$1.7M	5x	as long as short
Injective MORPHO/USDC PERP	−0.0405%	1h	2.6430	−0.306%	$37	$242K	5.5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0360%	1h	2.6555	+0.165%	$76K	$43K	25x	as long as short
Bybit MORPHOUSDT	−0.0347%	4h	2.6499	−0.046%	$8.4M	$9.2M	25x	as long as short
BloFin MORPHO-USDT	−0.0209%	4h	2.6538	+0.101%	$637K	$253K	20x	as long as short
Variational Omni MORPHOlong	−0.0165%	4h	2.6511	long leg	$629K	$1.0M	—

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_MORPHO_USDCshort	−0.0145%	4h	2.6502	−0.035%	$10K	$34K	10x
Gate MORPHO_USDT	−0.0072%	4h	2.6511	−0.001%	$771K	$532K	50x	as long as short
Phoenix MORPHO	−0.0060%	1h	2.6556	+0.169%	$44K	$477K	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6503	−0.031%	$16	—	10x	as long as short
MEXC MORPHO_USDT	+0.0030%	4h	2.6507	−0.016%	$5.5M	$961K	100x	as long as short
Extended MORPHO-USD	+0.0032%	1h	2.6500	−0.043%	$103K	$298K	10x	as long as short
Binance MORPHOUSDT	+0.0036%	4h	2.6505	−0.024%	$16.0M	$26.0M	75x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6555	+0.164%	$316K	$331K	5x	as long as short
Aster MORPHOUSDT	+0.0097%	4h	2.6515	+0.016%	$58K	$30K	20x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6528	+0.063%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6576	+0.245%	$6.3M	$7.0M	5x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6502	−0.035%	$3.2M	$4.5M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6532	+0.079%	$594K	$268K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6527	+0.060%	$2.9M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6506	−0.019%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6511	−0.001%	$22K	$4K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0158% / S −0.3418%	1h	2.6529	+0.068%	$1K	—	100x	as long as short