MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0251%/8h= −27.5% APRpaid last 24h +0.052%

Price spread now: Coinbase International against Variational Omni+0.148%58s7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread pays, funding is against you. Coinbase International is 0.148% dearer against Variational Omni than usual: you sell high and buy low (spread +0.148% now, against zero (this spread has no 7-day history yet)): +$15 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 47 hours. The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MORPHO	2.6676	−0.0029	get 0.0015% / 4h	3h 11m	$636K	$926K	—
Short	Coinbase International MORPHO-PERP-INTX	2.6715	−0.0280	pay 0.0035% / 1h	11m 26s	$77K	$43K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.148%Rate

Funding earned: −$52.66
Price spread: +0.148% → 0.000%: $14.77
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$47.89
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Coinbase International: no order-book sample. 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, 3 min ago	4.60 bp	doesn't fit	57.8 bp −$578	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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	−0.1823%	1h	2.6657	−0.070%	$81K	$125K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0612%	1h	2.6673	−0.010%	$11K	$785	10x	as long as short
01 Exchange MORPHOUSD	−0.0432%	1h	2.6663	−0.047%	$876	$13K	5x	as long as short
Coinbase International MORPHO-PERP-INTXshort	−0.0280%	1h	2.6715	+0.148%	$77K	$43K	25x
BloFin MORPHO-USDT	−0.0200%	4h	2.6720	+0.166%	$644K	$233K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0146%	4h	2.6671	−0.017%	$10K	$34K	10x	as long as short
Phoenix MORPHO	−0.0030%	1h	2.6758	+0.309%	$44K	$474K	5x	as long as short
Variational Omni MORPHOlong	−0.0029%	4h	2.6676	long leg	$636K	$926K	—
Polymarket Perps MORPHO-USD	−0.0010%	1h	2.6676	+0.002%	$25K	$1.7M	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6673	−0.008%	$16	—	10x	as long as short

Show 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	+0.107%	$41K	$133K	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	−0.921%	$37	$242K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6782	+0.400%	$320K	$325K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6662	−0.052%	$5K	$3	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6691	+0.059%	$58K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6669	−0.024%	$16.2M	$25.5M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6694	+0.069%	$8.6M	$9.0M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6690	+0.054%	$3.2M	$4.3M	20x	as long as short
Gate MORPHO_USDT	+0.0100%	4h	2.6689	+0.050%	$770K	$525K	50x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6668	−0.028%	$5.6M	$905K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6700	+0.091%	$596K	$262K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6698	+0.084%	$2.9M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6680	+0.016%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6679	+0.013%	$22K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6664	−0.044%	$102K	$362K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0187% / S −0.4126%	1h	2.6681	+0.021%	$1K	—	100x	as long as short
Hyperliquid MORPHO	+0.0353%	1h	2.6737	+0.230%	$6.3M	$7.0M	5x	as long as short