MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0267%/8h= +29.2% APRnext payment +$1.33 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against Variational Omni+0.166%7-day average −0.037% · you sell dearer than you buy

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

Long on Variational Omni Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 3 days (all we have)+0.030%+$3 · spread now +0.166%, 7d avg −0.037%

Together, before fees+0.030%+ Points / potential airdropVariational Omni: Active · farm board+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Bitget is 0.203% dearer against Variational Omni than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of −0.037%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.000% in total (about 0.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.33 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	Variational Omni MORPHO	2.6481	−0.0167	get 0.0083% / 4h	7m 34s	$630K	$1.0M	—
Short	Bitget MORPHOUSDT	2.6525	0.0100	get 0.0050% / 4h	7m 34s	$2.9M	$1.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee BitgetbpOrdersPrice spread, now +0.166%Rate

Funding earned: $56.02
Price spread: +0.166% → −0.037%: $20.27
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: $64.29
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Bitget: live order book, 5 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 Variational Omni RFQ quote, 2 min ago	4.60 bp	doesn't fit	71.1 bp −$711	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	4.90 bp	22.4 bp −$22	72.6 bp −$726	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	−0.1755%	1h	2.6493	+0.044%	$81K	$143K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0955%	1h	2.6535	+0.203%	$11K	$812	10x	as long as short
01 Exchange MORPHOUSD	−0.0848%	1h	2.6447	−0.129%	$869	$12K	5x	as long as short
Polymarket Perps MORPHO-USD	−0.0455%	1h	2.6533	+0.196%	$28K	$1.7M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0448%	4h	2.6519	+0.141%	$41K	$146K	10x	as long as short
Injective MORPHO/USDC PERP	−0.0405%	1h	2.6430	−0.193%	$37	$242K	5.5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0360%	1h	2.6546	+0.245%	$76K	$43K	25x	as long as short
Bybit MORPHOUSDT	−0.0353%	4h	2.6526	+0.169%	$8.4M	$9.3M	25x	as long as short
BloFin MORPHO-USDT	−0.0185%	4h	2.6556	+0.283%	$639K	$253K	20x	as long as short
Variational Omni MORPHOlong	−0.0167%	4h	2.6481	long leg	$630K	$1.0M	—

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_MORPHO_USDC	−0.0145%	4h	2.6528	+0.177%	$10K	$34K	10x	as long as short
Gate MORPHO_USDT	−0.0062%	4h	2.6538	+0.215%	$770K	$533K	50x	as long as short
Phoenix MORPHO	−0.0060%	1h	2.6531	+0.188%	$43K	$477K	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6531	+0.188%	$16	—	10x	as long as short
MEXC MORPHO_USDT	+0.0054%	4h	2.6512	+0.116%	$5.5M	$961K	100x	as long as short
Binance MORPHOUSDT	+0.0056%	4h	2.6502	+0.079%	$16.0M	$26.0M	75x	as long as short
Extended MORPHO-USD	+0.0056%	1h	2.6507	+0.096%	$103K	$298K	10x	as long as short
Aster MORPHOUSDT	+0.0073%	4h	2.6521	+0.149%	$58K	$30K	20x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6566	+0.322%	$316K	$331K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6503	+0.083%	$5K	$3	5x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6517	+0.135%	$3.2M	$4.5M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6554	+0.275%	$595K	$267K	50x	as long as short
Bitget MORPHOUSDTshort	+0.0100%	4h	2.6525	+0.166%	$2.9M	$1.8M	75x
BingX MORPHO-USDT	+0.0100%	4h	2.6528	+0.177%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6530	+0.184%	$22K	$4K	5x	as long as short
Hyperliquid MORPHO	+0.0106%	1h	2.6584	+0.388%	$6.3M	$7.0M	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0158% / S −0.3418%	1h	2.6559	+0.295%	$1K	—	100x	as long as short