MORPHO

Alert

Funding spread now, next payment 17:00 UTC−0.1154%/8h

paid, last 24h+0.146%paid, last 3 days+0.060%to open and closeno order book

Long on Variational Omni Short on Kraken Futures

The current rate is far above what this pair has been paying: over the last 3 days it paid 0.060% in total (about 7.2% a year). A funding rate is set anew for every payment. 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	2.7345	0.0100	pay 0.0050% / 4h	3h 22m	$670K	$1.4M	—
Short	Kraken Futures PF_MORPHOUSD	2.7294	−0.1054	pay 0.0132% / 1h	22m 35s	$99K	$183K	20x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee Variational OmnibpFee Kraken FuturesbpOrdersRate

Funding earned: −$242.33
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$252.33
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Kraken Futures: live order book, 21 min ago. Net counts fees only.

Price risk

price view

Price gap now: −0.190%
Avg gap 7d: +0.030%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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	8.20 bp	doesn't fit	64.6 bp −$646	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 21 min ago	19.30 bp	59.4 bp −$59	143.7 bp −$1,437	doesn't fit	doesn't fit

MORPHO on 26 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Kraken Futures PF_MORPHOUSDshort	−0.1054%	1h	$99K	$183K	20x
Deribit MORPHO_USDC-PERPETUAL	−0.0885%	1h	$11K	$443	10x	as long as short
01 Exchange MORPHOUSD	−0.0712%	1h	$894	$10K	5x	as long as short
Gate MORPHO_USDT	−0.0552%	4h	$764K	$574K	50x	as long as short
Bybit MORPHOUSDT	−0.0462%	4h	$9.0M	$11.1M	25x	as long as short
Polymarket Perps MORPHO-USD	−0.0318%	1h	$28K	$3.0M	5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0256%	1h	$79K	$52K	25x	as long as short
BloFin MORPHO-USDT	−0.0180%	4h	$679K	$246K	20x	as long as short
Phoenix MORPHO	−0.0146%	1h	$35K	$554K	5x	as long as short
Orderly PERP_MORPHO_USDC	−0.0143%	4h	$11K	$34K	10x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Reya MORPHORUSDPERP	−0.0004%	1h	$16	—	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	$38	$34K	5.5x	as long as short
Extended MORPHO-USD	+0.0088%	1h	$103K	$304K	10x	as long as short
MEXC MORPHO_USDT	+0.0090%	4h	$4.9M	$1.3M	100x	as long as short
Binance MORPHOUSDT	+0.0090%	4h	$16.8M	$30.4M	75x	as long as short
Lighter MORPHO	+0.0096%	1h	$321K	$475K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0099%	8h	$5K	$3	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	$60K	$34K	20x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	$3.2M	$5.6M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	$661K	$380K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	$3.0M	$2.6M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	—	$1.5M	—	as long as short
Variational Omni MORPHOlong	+0.0100%	4h	$670K	$1.4M	—
SoDEX MORPHO-USD	+0.0100%	1h	$23K	$2K	5x	as long as short
Hyperliquid MORPHO	+0.0105%	1h	$6.7M	$7.9M	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0197% / S −0.0897%	1h	$2K	—	100x	as long as short