Funding you earn now, next payment 04:00 UTC−0.0129%/8h= −14.1% APRnext payment −$0.65 per $10,000 · paid last 24h −0.013%
Price spread now: Variational Omni against MEXC−0.050%7-day average +0.031% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.013%−$1 on $10k
+Price spread, last 3 days (all we have)−0.186%−$19 · spread now −0.050%, 7d avg +0.031%
=Together, before fees−0.199%+ Points / potential airdropVariational Omni: Active · farm board−$20 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Variational Omni is 0.082% cheaper against MEXC than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.031%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | MEXC MORPHO_USDT | 2.6689 | 0.0100 | pay 0.0050% / 4h | 3h 07m | $5.6M | $906K | 100x |
| Short | Variational Omni MORPHO | 2.6676 | −0.0029 | pay 0.0015% / 4h | 3h 07m | $636K | $926K | — |
MEXC MORPHO_USDT
Variational Omni MORPHOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against MEXC. 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
- −$27.14
- Price spread: −0.050% → +0.031%
- −$8.16
- Slippage, 4 orders
- no order book: not counted
- Fee MEXC: 2 bp × 2 orders
- −$4
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$39.3
- Costs to cover
- 0.040%
- Break-even
- never at this rate
Slippage unknown: MEXC: live order book, 5 min ago; Variational Omni: RFQ quote, 7 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 MEXC live order book, 5 min ago | 0.38 bp | 6.1 bp −$6 | 40.6 bp −$406 | 204.0 bp −$20.4K | doesn't fit |
| Sell Variational Omni RFQ quote, 7 min ago | 4.60 bp | doesn't fit | 51.5 bp −$515 | 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 | −0.1821% | 1h | 2.6688 | −0.005% | $81K | $125K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0797% | 1h | 2.6705 | +0.060% | $11K | $785 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0408% | 1h | 2.6682 | −0.026% | $877 | $13K | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0280% | 1h | 2.6715 | +0.097% | $77K | $43K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6704 | +0.056% | $606K | $233K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0145% | 4h | 2.6687 | −0.007% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6710 | +0.079% | $44K | $474K | 5x | as long as short |
| Variational Omni MORPHOshort | −0.0029% | 4h | 2.6676 | −0.050% | $636K | $926K | — | |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6701 | +0.045% | $16 | — | 10x | as long as short |
| Polymarket Perps MORPHO-USD | +0.0004% | 1h | 2.6698 | +0.034% | $25K | $1.7M | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDC
Phoenix MORPHO
Reya MORPHORUSDPERP
Polymarket Perps MORPHO-USDShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT MORPHO_USDT_Perp | +0.0028% | 4h | 2.6704 | +0.057% | $41K | $133K | 10x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | −0.970% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6801 | +0.420% | $321K | $325K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6716 | +0.101% | $5K | $3 | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6717 | +0.104% | $58K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6700 | +0.041% | $16.2M | $25.4M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6710 | +0.079% | $8.6M | $9.0M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6713 | +0.090% | $3.2M | $4.3M | 20x | as long as short |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.6695 | +0.022% | $770K | $525K | 50x | as long as short |
| MEXC MORPHO_USDTlong | +0.0100% | 4h | 2.6689 | long leg | $5.6M | $906K | 100x | |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6717 | +0.105% | $601K | $262K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6710 | +0.079% | $3.0M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6700 | +0.041% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6701 | +0.045% | $22K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6687 | −0.007% | $102K | $362K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0187% / S −0.4126% | 1h | 2.6713 | +0.091% | $1K | — | 100x | as long as short |
| Hyperliquid MORPHO | +0.0355% | 1h | 2.6776 | +0.326% | $6.3M | $6.9M | 5x | as long as short |
GRVT MORPHO_USDT_Perp
Injective MORPHO/USDC PERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
Gate MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]
Hyperliquid MORPHO