Funding you earn now, next payment 09:00 UTC−0.0615%/8h= −67.3% APRpaid last 24h −0.035%
Price spread now: Variational Omni against GMX−0.129%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 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
Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and Variational Omni is 0.129% cheaper against GMX than usual: you would sell low and buy high (−$13 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX MORPHO/USD [ETH-USDC] | 2.5809 | L +0.0156% / S −12.8912% | pay 0.0020% / 1h | 54m 03s | $1K | — | 100x |
| Short | Variational Omni MORPHO | 2.5776 | −0.0458 | pay 0.0229% / 4h | 3h 54m | $614K | $526K | — |
GMX MORPHO/USD [ETH-USDC]
Variational Omni MORPHOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against GMX. 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
- −$129.07
- Price spread: −0.129% → 0.000%
- −$12.93
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$153.99
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Variational Omni: RFQ quote, 50 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 GMX no order-book sample | — | — | — | — | — |
| Sell Variational Omni RFQ quote, 50 min ago | 4.65 bp | doesn't fit | 64.3 bp −$643 | doesn't fit | doesn't fit |
GMX: 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 | −0.2470% | 1h | 2.5732 | −0.297% | $84K | $134K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1183% | 1h | 2.5775 | −0.132% | $11K | $3K | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0984% | 1h | 2.5742 | −0.260% | $846 | $9K | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0552% | 1h | 2.5579 | −0.892% | $70K | $37K | 25x | as long as short |
| Variational Omni MORPHOshort | −0.0458% | 4h | 2.5776 | −0.129% | $614K | $526K | — | |
| BloFin MORPHO-USDT | −0.0413% | 4h | 2.5739 | −0.272% | $635K | $238K | 20x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0338% | 4h | 2.5774 | −0.134% | $30K | $123K | 10x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0275% | 4h | 2.5762 | −0.183% | $10K | $34K | 10x | as long as short |
| Aster MORPHOUSDT | −0.0198% | 4h | 2.5770 | −0.152% | $54K | $49K | 20x | as long as short |
| Phoenix MORPHO | −0.0185% | 1h | 2.5793 | −0.062% | $33K | $308K | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
GRVT MORPHO_USDT_Perp
Orderly PERP_MORPHO_USDC
Aster MORPHOUSDT
Phoenix MORPHOShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended MORPHO-USD | −0.0176% | 1h | 2.5769 | −0.156% | $99K | $375K | 10x | as long as short |
| Binance MORPHOUSDT | −0.0173% | 4h | 2.5776 | −0.128% | $15.5M | $24.0M | 75x | as long as short |
| MEXC MORPHO_USDT | −0.0172% | 4h | 2.5773 | −0.140% | $6.3M | $909K | 100x | as long as short |
| Gate MORPHO_USDT | −0.0050% | 4h | 2.5778 | −0.121% | $759K | $483K | 50x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.5790 | −0.073% | $15 | — | 10x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +2.406% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.5812 | +0.012% | $311K | $283K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5779 | −0.117% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.5828 | +0.073% | $5.9M | $7.0M | 5x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.5796 | −0.051% | $7.8M | $8.4M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.5782 | −0.105% | $3.2M | $4.1M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.5782 | −0.105% | $586K | $264K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5787 | −0.086% | $2.8M | $1.7M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5785 | −0.093% | — | $1.4M | — | as long as short |
| Polymarket Perps MORPHO-USD | +0.0100% | 1h | 2.5823 | +0.054% | $25K | $1.4M | 5x | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.5783 | −0.101% | $21K | $5K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC]long | L +0.0156% / S −12.8912% | 1h | 2.5809 | long leg | $1K | — | 100x |
Extended MORPHO-USD
Binance MORPHOUSDT
MEXC MORPHO_USDT
Gate MORPHO_USDT
Reya MORPHORUSDPERP
Injective MORPHO/USDC PERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Polymarket Perps MORPHO-USD
SoDEX MORPHO-USD