Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.013%
Price spread now: Variational Omni against Extended+0.210%7-day average +0.048% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.019%−$2 on $10k
+Price spread, last 4 days (all we have)−0.013%−$1 · spread now +0.210%, 7d avg +0.048%
=Together, before fees−0.031%+ Points / potential airdropExtended: Active · Variational Omni: Active · farm board−$3 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.162% dearer against Extended than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of +0.048%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended MORPHO-USD | 2.6100 | 0.0104 | pay 0.0013% / 1h | 38m 11s | $100K | $355K | 10x |
| Short | Variational Omni MORPHO | 2.6155 | 0.0100 | get 0.0050% / 4h | 1h 38m | $624K | $907K | — |
Extended MORPHO-USD
Variational Omni MORPHOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against Extended. 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
- −$0.84
- Price spread: +0.210% → +0.048%
- $16.23
- Slippage, 4 orders
- no order book: not counted
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- $10.39
- Costs to cover
- 0.050%
- Break-even
- from the start
Slippage unknown: Extended: live order book, 24 min ago; 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 Extended live order book, 24 min ago | 3.05 bp | 22.0 bp −$22 | 185.5 bp −$1,855 | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 31 min ago | 4.63 bp | doesn't fit | 63.1 bp −$631 | doesn't fit | doesn't fit |
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 | −0.1681% | 1h | 2.6075 | −0.097% | $81K | $128K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1127% | 1h | 2.6104 | +0.015% | $11K | $955 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0560% | 1h | 2.6085 | −0.058% | $857 | $9K | 5x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6121 | +0.080% | $638K | $242K | 20x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0192% | 1h | 2.6327 | +0.869% | $75K | $42K | 25x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0156% | 4h | 2.6104 | +0.015% | $10K | $34K | 10x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0114% | 4h | 2.6163 | +0.241% | $32K | $142K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0106% | 1h | 2.6111 | +0.042% | $25K | $1.8M | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6102 | +0.007% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | 0.0000% | 1h | 2.6187 | +0.333% | $43K | $392K | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
BloFin MORPHO-USDT
Coinbase International MORPHO-PERP-INTX
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 | +1.264% | $37 | $242K | 5.5x | as long as short |
| Gate MORPHO_USDT | +0.0050% | 4h | 2.6150 | +0.191% | $754K | $503K | 50x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6138 | +0.144% | $313K | $308K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6127 | +0.104% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6163 | +0.241% | $6.1M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6128 | +0.107% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6092 | −0.031% | $15.7M | $25.7M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6130 | +0.115% | $8.3M | $9.4M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6120 | +0.076% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6096 | −0.016% | $5.8M | $840K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6137 | +0.141% | $595K | $252K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6139 | +0.149% | $2.8M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6122 | +0.084% | — | $1.4M | — | as long as short |
| Variational Omni MORPHOshort | +0.0100% | 4h | 2.6155 | +0.210% | $624K | $907K | — | |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6106 | +0.023% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USDlong | +0.0104% | 1h | 2.6100 | long leg | $100K | $355K | 10x | |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6133 | +0.124% | $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
GMX MORPHO/USD [ETH-USDC]