Funding you earn now, next payment 02:00 UTC+0.0292%/8h= +32.0% APRpaid last 24h −0.037%
Price spread now: Variational Omni against Coinbase International−0.654%58s7-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 · farm boardneeds both histories
Funding pays, the price is against you. Variational Omni is 0.654% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.654% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$65 on $10k: about 7.5 days of funding at the current rate (+$9 a day). The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International MORPHO-PERP-INTX | 2.6327 | −0.0192 | get 0.0024% / 1h | 38m 28s | $75K | $42K | 25x |
| Short | Variational Omni MORPHO | 2.6155 | 0.0100 | get 0.0050% / 4h | 1h 38m | $624K | $907K | — |
Coinbase International MORPHO-PERP-INTX
Variational Omni MORPHOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against Coinbase International. 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
- $61.32
- Price spread: −0.654% → 0.000%
- −$65.37
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$14.05
- Costs to cover
- 0.100%
- Break-even
- 8.6 days
Slippage unknown: Coinbase International: no order-book sample; Variational Omni: RFQ quote, 31 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 Coinbase International no order-book sample | — | — | — | — | — |
| Sell Variational Omni RFQ quote, 31 min ago | 4.63 bp | doesn't fit | 63.1 bp −$631 | doesn't fit | doesn't fit |
Coinbase International: 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 | −0.1680% | 1h | 2.6086 | −0.916% | $81K | $128K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1050% | 1h | 2.6124 | −0.771% | $11K | $955 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0560% | 1h | 2.6085 | −0.919% | $857 | $9K | 5x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6121 | −0.782% | $638K | $242K | 20x | as long as short |
| Coinbase International MORPHO-PERP-INTXlong | −0.0192% | 1h | 2.6327 | long leg | $75K | $42K | 25x | |
| Orderly PERP_MORPHO_USDC | −0.0156% | 4h | 2.6104 | −0.847% | $10K | $34K | 10x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0114% | 4h | 2.6163 | −0.623% | $32K | $142K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0106% | 1h | 2.6111 | −0.820% | $25K | $1.8M | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6102 | −0.855% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | 0.0000% | 1h | 2.6187 | −0.532% | $43K | $392K | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDC
GRVT MORPHO_USDT_Perp
Polymarket Perps MORPHO-USD
Reya MORPHORUSDPERP
Phoenix MORPHOShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +0.391% | $37 | $242K | 5.5x | as long as short |
| Gate MORPHO_USDT | +0.0050% | 4h | 2.6150 | −0.672% | $754K | $503K | 50x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6160 | −0.633% | $313K | $308K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6127 | −0.759% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6163 | −0.623% | $6.1M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6130 | −0.750% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6106 | −0.839% | $15.7M | $25.7M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6123 | −0.775% | $8.3M | $9.4M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6123 | −0.775% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6104 | −0.847% | $5.8M | $840K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6141 | −0.706% | $595K | $252K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6145 | −0.691% | $2.8M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6129 | −0.752% | — | $1.4M | — | as long as short |
| Variational Omni MORPHOshort | +0.0100% | 4h | 2.6155 | −0.654% | $624K | $907K | — | |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6116 | −0.801% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6100 | −0.862% | $100K | $355K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6133 | −0.738% | $1K | — | 100x | as long as short |
Injective MORPHO/USDC PERP
Gate MORPHO_USDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]