Funding arb · Price arb /

MORPHO

all MORPHO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0212%/8h= +23.2% APRpaid last 24h +0.015%

Price spread now: Paradex against Variational Omni−0.075%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 Paradex

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 · Paradex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.075% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.075% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 29 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MORPHO	2.6621	−0.0112	get 0.0056% / 4h	3h 19m	$634K	$1.0M	—
Short	Paradex MORPHO-USD-PERP	2.6601	0.0100	get 0.0100% / 8h	7h 19m	$5K	$3	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ParadexbpOrdersPrice spread, now −0.075%Rate

Funding earned: $44.47
Price spread: −0.075% → 0.000%: −$7.54
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Paradex: 2 bp × 2 orders: −$4
Net: $32.92
Costs to cover: 0.040%
Break-even: 1.8 days

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Paradex: 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, 4 min ago	6.47 bp	doesn't fit	69.0 bp −$690	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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	−0.1829%	1h	2.6581	−0.150%	$80K	$132K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0651%	1h	2.6614	−0.025%	$11K	$785	10x	as long as short
01 Exchange MORPHOUSD	−0.0448%	1h	2.6566	−0.205%	$873	$13K	5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0280%	1h	2.6527	−0.352%	$76K	$43K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6633	+0.047%	$638K	$229K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0146%	4h	2.6605	−0.059%	$10K	$34K	10x	as long as short
Variational Omni MORPHOlong	−0.0112%	4h	2.6621	long leg	$634K	$1.0M	—
Polymarket Perps MORPHO-USD	−0.0032%	1h	2.6603	−0.066%	$24K	$1.7M	5x	as long as short
Phoenix MORPHO	−0.0030%	1h	2.6753	+0.497%	$44K	$474K	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0016%	4h	2.6605	−0.059%	$41K	$133K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya MORPHORUSDPERP	−0.0004%	1h	2.6593	−0.105%	$16	—	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	−0.716%	$37	$242K	5.5x	as long as short
Gate MORPHO_USDT	+0.0038%	4h	2.6627	+0.024%	$770K	$524K	50x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6724	+0.390%	$320K	$325K	5x	as long as short
Paradex MORPHO-USD-PERPshort	+0.0100%	8h	2.6601	−0.075%	$5K	$3	5x
Aster MORPHOUSDT	+0.0100%	4h	2.6635	+0.052%	$58K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6593	−0.105%	$16.1M	$25.8M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6610	−0.040%	$8.5M	$9.2M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6602	−0.070%	$3.2M	$4.5M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6606	−0.055%	$5.6M	$904K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6636	+0.058%	$595K	$266K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6605	−0.059%	$2.9M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6612	−0.032%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6613	−0.029%	$22K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6595	−0.094%	$104K	$364K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0186% / S −0.4126%	1h	2.6615	−0.020%	$1K	—	100x	as long as short
Hyperliquid MORPHO	+0.0354%	1h	2.6677	+0.213%	$6.3M	$7.0M	5x	as long as short