Funding you earn now, next payment 07:00 UTC+0.0100%/8h= +11.0% APRpaid last 24h −0.016%
Price spread now: Reya against Variational Omni−0.057%7-day average — · you buy dearer than you sell
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 · Reya: Active · farm boardneeds both histories
Funding pays, the price is against you. Reya is 0.057% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.057% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 45 hours of funding at the current rate (+$3 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Variational Omni MORPHO | 2.5980 | −0.0105 | get 0.0052% / 4h | 1h 04m | $619K | $677K | — |
| Short | Reya MORPHORUSDPERP | 2.5966 | −0.0005 | pay 0.0001% / 1h | 4m 02s | $16 | — | 10x |
Variational Omni MORPHO
Reya MORPHORUSDPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Reya 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
- $21.02
- Price spread: −0.057% → 0.000%
- −$5.66
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Reya: 3 bp × 2 orders
- −$6
- Net
- $9.36
- Costs to cover
- 0.060%
- Break-even
- 3.9 days
Slippage unknown: Variational Omni: RFQ quote, 45 min ago; Reya: 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, 45 min ago | 6.56 bp | doesn't fit | 75.1 bp −$751 | doesn't fit | doesn't fit |
| Sell Reya no order-book sample | — | — | — | — | — |
Reya: 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 | −0.1375% | 1h | 2.5953 | −0.105% | $84K | $135K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1365% | 1h | 2.5957 | −0.090% | $11K | $2K | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.1192% | 1h | 2.5877 | −0.398% | $850 | $9K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0496% | 4h | 2.5990 | +0.035% | $30K | $134K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0432% | 1h | 2.5972 | −0.033% | $72K | $38K | 25x | as long as short |
| Bybit MORPHOUSDT | −0.0362% | 4h | 2.5990 | +0.037% | $7.9M | $8.6M | 25x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0314% | 1h | 2.5974 | −0.025% | $27K | $1.4M | 5x | as long as short |
| BloFin MORPHO-USDT | −0.0183% | 4h | 2.5977 | −0.013% | $638K | $241K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0158% | 4h | 2.5966 | −0.056% | $10K | $34K | 10x | as long as short |
| Variational Omni MORPHOlong | −0.0105% | 4h | 2.5980 | long leg | $619K | $677K | — |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
Bybit MORPHOUSDT
Polymarket Perps MORPHO-USD
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDCShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix MORPHO | −0.0092% | 1h | 2.6025 | +0.171% | $33K | $339K | 5x | as long as short |
| Reya MORPHORUSDPERPshort | −0.0005% | 1h | 2.5966 | −0.057% | $16 | — | 10x | |
| Gate MORPHO_USDT | +0.0010% | 4h | 2.5977 | −0.013% | $761K | $512K | 50x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +1.730% | $37 | $242K | 5.5x | as long as short |
| Binance MORPHOUSDT | +0.0053% | 4h | 2.5960 | −0.079% | $15.7M | $24.4M | 75x | as long as short |
| Extended MORPHO-USD | +0.0056% | 1h | 2.5944 | −0.139% | $99K | $345K | 10x | as long as short |
| MEXC MORPHO_USDT | +0.0056% | 4h | 2.5957 | −0.090% | $6.3M | $904K | 100x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6012 | +0.120% | $313K | $294K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5943 | −0.143% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6016 | +0.136% | $5.9M | $7.0M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.5993 | +0.049% | $58K | $33K | 20x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.5987 | +0.025% | $3.2M | $4.2M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.5989 | +0.033% | $589K | $260K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5965 | −0.059% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5975 | −0.021% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.5971 | −0.036% | $21K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.5991 | +0.042% | $1K | — | 100x | as long as short |
Phoenix MORPHO
Gate MORPHO_USDT
Injective MORPHO/USDC PERP
Binance MORPHOUSDT
Extended MORPHO-USD
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]