Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.013%
Price spread now: Extended against Variational Omni+0.022%7-day average −0.047% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.017%+$2 on $10k
+Price spread, last 4 days (all we have)+0.204%+$20 · spread now +0.022%, 7d avg −0.047%
=Together, before fees+0.221%+ Points / potential airdropVariational Omni: Active · Extended: Active · farm board+$22 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.069% dearer against Variational Omni than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.047%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Variational Omni MORPHO | 2.5880 | 0.0100 | pay 0.0050% / 4h | 2h 20m | $615K | $677K | — |
| Short | Extended MORPHO-USD | 2.5886 | 0.0104 | get 0.0013% / 1h | 20m 00s | $104K | $343K | 10x |
Variational Omni MORPHO
Extended MORPHO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended against Variational Omni. 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
- $0.84
- Price spread: +0.022% → −0.047%
- $6.9
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- $2.74
- Costs to cover
- 0.050%
- Break-even
- from the start
Slippage unknown: Variational Omni: RFQ quote, 34 min ago; Extended: live order book, 27 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, 34 min ago | 6.58 bp | doesn't fit | 66.1 bp −$661 | doesn't fit | doesn't fit |
| Sell Extended live order book, 27 min ago | 2.70 bp | 22.2 bp −$22 | 201.5 bp −$2,015 | 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 | −0.1566% | 1h | 2.5774 | −0.413% | $81K | $132K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1448% | 1h | 2.5871 | −0.037% | $11K | $2K | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0840% | 1h | 2.5903 | +0.087% | $851 | $9K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0340% | 4h | 2.5827 | −0.208% | $32K | $134K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0216% | 1h | 2.5950 | +0.269% | $73K | $39K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.5869 | −0.044% | $630K | $238K | 20x | as long as short |
| Phoenix MORPHO | −0.0154% | 1h | 2.5885 | +0.017% | $33K | $330K | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0128% | 4h | 2.5877 | −0.013% | $10K | $34K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.5938 | +0.224% | $16 | — | 10x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +2.123% | $37 | $242K | 5.5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Phoenix MORPHO
Orderly PERP_MORPHO_USDC
Reya MORPHORUSDPERP
Injective MORPHO/USDC PERPShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Polymarket Perps MORPHO-USD | +0.0034% | 1h | 2.5938 | +0.222% | $25K | $1.5M | 5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.5846 | −0.135% | $311K | $295K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5947 | +0.258% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.5884 | +0.014% | $5.9M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.5869 | −0.045% | $57K | $31K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.5856 | −0.095% | $15.6M | $24.2M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.5882 | +0.006% | $8.0M | $8.5M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.5884 | +0.014% | $3.2M | $4.0M | 20x | as long as short |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.5849 | −0.122% | $755K | $497K | 50x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.5859 | −0.083% | $6.2M | $911K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.5840 | −0.156% | $594K | $246K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5891 | +0.041% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5866 | −0.056% | — | $1.4M | — | as long as short |
| Variational Omni MORPHOlong | +0.0100% | 4h | 2.5880 | long leg | $615K | $677K | — | |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.5802 | −0.303% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USDshort | +0.0104% | 1h | 2.5886 | +0.022% | $104K | $343K | 10x | |
| GMX MORPHO/USD [ETH-USDC] | L +0.0147% / S +0.0040% | 1h | 2.5952 | +0.277% | $6K | — | 100x | as long as short |
Polymarket Perps MORPHO-USD
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
Gate MORPHO_USDT
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]