MORPHO

Alert

Funding spread now, next payment 15:00 UTC+0.0789%/8h

paid, last 24h+0.185%paid, last 3 days+0.304%to open and closeno order book

Long on Deribit Short on Variational Omni

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MORPHO_USDC-PERPETUAL	2.7655	−0.0689	get 0.0086% / 1h	6m 30s	$11K	$443	10x
Short	Variational Omni MORPHO	2.7619	0.0100	get 0.0050% / 4h	1h 06m	$674K	$1.4M	—

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee DeribitbpFee Variational OmnibpOrdersRate

Funding earned: $165.75
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $158.75
Break-even: 0.3 days

Slippage unknown: Deribit: no order-book sample; Variational Omni: RFQ quote, 4 min ago. Net counts fees only.

Price risk

price view

Price gap now: −0.130%
Avg gap 7d: —

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Deribit no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 4 min ago	8.14 bp	doesn't fit	65.1 bp −$651	doesn't fit	doesn't fit

Deribit: 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 26 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
01 Exchange MORPHOUSD	−0.1440%	1h	$905	$8K	5x	as long as short
Deribit MORPHO_USDC-PERPETUALlong	−0.0689%	1h	$11K	$443	10x
Kraken Futures PF_MORPHOUSD	−0.0369%	1h	$99K	$191K	20x	as long as short
Gate MORPHO_USDT	−0.0310%	4h	$780K	$592K	50x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	$682K	$257K	20x	as long as short
Polymarket Perps MORPHO-USD	−0.0161%	1h	$33K	$3.0M	5x	as long as short
Bybit MORPHOUSDT	−0.0135%	4h	$9.0M	$11.0M	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0069%	4h	$11K	$34K	10x	as long as short
Phoenix MORPHO	−0.0058%	1h	$36K	$514K	5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0032%	1h	$81K	$53K	25x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Reya MORPHORUSDPERP	−0.0004%	1h	$17	—	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	$38	$137K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	$326K	$476K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	$5K	$3	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	$60K	$34K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	$16.9M	$30.3M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	$3.3M	$5.8M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	$5.0M	$1.4M	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	$632K	$356K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	$3.0M	$2.6M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	—	$1.5M	—	as long as short
Variational Omni MORPHOshort	+0.0100%	4h	$674K	$1.4M	—
SoDEX MORPHO-USD	+0.0100%	1h	$23K	$2K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	$104K	$310K	10x	as long as short
Hyperliquid MORPHO	+0.0118%	1h	$6.8M	$8.1M	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0197% / S −0.0897%	1h	$2K	—	100x	as long as short