MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0490%/8h= −53.7% APRnext payment −$2.45 per $10,000 · paid last 24h −0.015%

Price spread now: Variational Omni against KuCoin+0.090%7-day average −0.039% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.015%−$2 on $10k

Price spread, last 4 days (all we have)+0.397%+$40 · spread now +0.090%, 7d avg −0.039%

Together, before fees+0.382%+ Points / potential airdropVariational Omni: Active · farm board+$38 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.130% dearer against KuCoin than usual: you sell high and buy low (spread +0.090% now, against its 7-day average of −0.039%): +$13 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 21 hours. At the pace of the last 4 days (−0.015% in total) that is about 31 days.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.015% in total (about -1.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.45 per $10,000. 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	KuCoin MORPHOUSDTM	2.5727	0.0100	pay 0.0050% / 4h	21m 53s	$586K	$264K	50x
Short	Variational Omni MORPHO	2.5750	−0.0390	pay 0.0195% / 4h	21m 53s	$614K	$526K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee KuCoinbpFee Variational OmnibpOrdersPrice spread, now +0.090%Rate

Funding earned: −$102.9
Price spread: +0.090% → −0.039%: $12.98
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$101.92
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: KuCoin: live order book, 12 min ago; Variational Omni: RFQ quote, 22 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 KuCoin live order book, 12 min ago	10.65 bp	58.9 bp −$59	166.2 bp −$1,662	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 22 min ago	4.65 bp	doesn't fit	64.3 bp −$643	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
01 Exchange MORPHOUSD	−0.1504%	1h	2.5617	−0.428%	$842	$9K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1381%	1h	2.5708	−0.074%	$10K	$3K	10x	as long as short
Kraken Futures PF_MORPHOUSD	−0.1242%	1h	2.5679	−0.185%	$84K	$133K	20x	as long as short
GRVT MORPHO_USDT_Perp	−0.0694%	4h	2.5708	−0.072%	$30K	$134K	10x	as long as short
Bybit MORPHOUSDT	−0.0585%	4h	2.5722	−0.019%	$7.8M	$8.4M	25x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0496%	1h	2.5716	−0.043%	$70K	$37K	25x	as long as short
Polymarket Perps MORPHO-USD	−0.0425%	1h	2.5716	−0.043%	$26K	$1.4M	5x	as long as short
Variational Omni MORPHOshort	−0.0390%	4h	2.5750	+0.090%	$614K	$526K	—
BloFin MORPHO-USDT	−0.0375%	4h	2.5729	+0.008%	$632K	$238K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0227%	4h	2.5703	−0.093%	$10K	$34K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix MORPHO	−0.0185%	1h	2.5742	+0.058%	$33K	$336K	5x	as long as short
Gate MORPHO_USDT	−0.0164%	4h	2.5738	+0.043%	$754K	$503K	50x	as long as short
Extended MORPHO-USD	−0.0144%	1h	2.5701	−0.101%	$99K	$375K	10x	as long as short
Binance MORPHOUSDT	−0.0141%	4h	2.5707	−0.078%	$15.5M	$24.1M	75x	as long as short
MEXC MORPHO_USDT	−0.0134%	4h	2.5708	−0.074%	$6.2M	$907K	100x	as long as short
Aster MORPHOUSDT	−0.0029%	4h	2.5720	−0.027%	$54K	$48K	20x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.5706	−0.082%	$15	—	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+2.733%	$37	$242K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	2.5746	+0.075%	$310K	$288K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.5690	−0.144%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.5758	+0.120%	$5.9M	$7.0M	5x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.5722	−0.019%	$3.2M	$4.1M	20x	as long as short
KuCoin MORPHOUSDTMlong	+0.0100%	4h	2.5727	long leg	$586K	$264K	50x
Bitget MORPHOUSDT	+0.0100%	4h	2.5715	−0.047%	$2.8M	$1.6M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.5716	−0.043%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.5700	−0.105%	$22K	$5K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0156% / S −12.8912%	1h	2.5731	+0.017%	$1K	—	100x	as long as short