MORPHO

Alert

Funding spread now, next payment 20:00 UTC−0.0544%/8h

paid, last 24h−0.028%paid, last 3 days−0.154%to open and closeno order book

Long on Hyperliquid Short on Variational Omni

The current rate is far above what this pair has been paying: over the last 3 days it paid -0.154% in total (about -18.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MORPHO	2.7048	0.0641	pay 0.0080% / 1h	59m 37s	$6.4M	$7.1M	5x
Short	Variational Omni MORPHO	2.6976	0.0097	get 0.0049% / 4h	59m 37s	$654K	$1.4M	—

Funding history

latest

Range statsloading…

Funding on every exchange

click an exchange to add or hide it

latest

Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee Variational OmnibpOrdersRate

Funding earned: −$114.24
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$123.24
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 4 min ago; Variational Omni: RFQ quote, 1 min ago. Net counts fees only.

Price risk

price view

Price gap now: −0.267%
Avg gap 7d: −0.114%

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 Hyperliquid live order book, 4 min ago	0.74 bp	14.0 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	4.58 bp	doesn't fit	69.5 bp −$695	doesn't fit	doesn't fit

MORPHO on 26 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Kraken Futures PF_MORPHOUSD	−0.2216%	1h	$85K	$164K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1009%	1h	$11K	$745	10x	as long as short
01 Exchange MORPHOUSD	−0.0536%	1h	$885	$12K	5x	as long as short
Gate MORPHO_USDT	−0.0378%	4h	$778K	$529K	50x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0352%	1h	$78K	$47K	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0210%	4h	$10K	$34K	10x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	$668K	$210K	20x	as long as short
Polymarket Perps MORPHO-USD	−0.0198%	1h	$24K	$2.2M	5x	as long as short
Bybit MORPHOUSDT	−0.0066%	4h	$8.9M	$10.2M	25x	as long as short
Phoenix MORPHO	−0.0030%	1h	$35K	$478K	5x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Reya MORPHORUSDPERP	−0.0004%	1h	$16	—	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	$37	$39K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	$321K	$365K	5x	as long as short
Variational Omni MORPHOshort	+0.0097%	4h	$654K	$1.4M	—
Paradex MORPHO-USD-PERP	+0.0100%	8h	$5K	$3	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	$59K	$33K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	$16.6M	$27.0M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	$3.2M	$4.6M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	$5.1M	$1.1M	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	$602K	$315K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	$3.0M	$2.0M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	—	$1.5M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	$23K	$2K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	$101K	$304K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0193% / S −0.0879%	1h	$2K	—	100x	as long as short
Hyperliquid MORPHOlong	+0.0641%	1h	$6.4M	$7.1M	5x