MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0254%/8h= −27.8% APRnext payment −$1.27 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against Binance−0.198%7-day average +0.038% · you buy dearer than you sell

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

Long on Binance Short on Variational Omni

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)−0.021%−$2 · spread now −0.198%, 7d avg +0.038%

Together, before fees−0.021%+ Points / potential airdropVariational Omni: Active · farm board−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Variational Omni is 0.236% cheaper against Binance than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of +0.038%). Swap the legs.

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 −$1.27 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	Binance MORPHOUSDT	2.6544	0.0053	pay 0.0027% / 4h	4m 50s	$16.1M	$26.0M	75x
Short	Variational Omni MORPHO	2.6491	−0.0201	pay 0.0100% / 4h	4m 50s	$630K	$1.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 BinancebpFee Variational OmnibpOrdersPrice spread, now −0.198%Rate

Funding earned: −$53.35
Price spread: −0.198% → +0.038%: −$23.59
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$86.94
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 6 min ago; Variational Omni: RFQ quote, 4 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 Binance live order book, 6 min ago	0.75 bp	13.3 bp −$13	33.4 bp −$334	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	4.60 bp	doesn't fit	57.4 bp −$574	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	−0.1754%	1h	2.6510	−0.129%	$81K	$143K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1068%	1h	2.6513	−0.117%	$11K	$812	10x	as long as short
01 Exchange MORPHOUSD	−0.0856%	1h	2.6456	−0.332%	$869	$12K	5x	as long as short
Polymarket Perps MORPHO-USD	−0.0464%	1h	2.6513	−0.117%	$28K	$1.7M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0448%	4h	2.6519	−0.096%	$41K	$146K	10x	as long as short
Injective MORPHO/USDC PERP	−0.0405%	1h	2.6430	−0.429%	$37	$242K	5.5x	as long as short
Bybit MORPHOUSDT	−0.0368%	4h	2.6540	−0.015%	$8.4M	$9.3M	25x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0360%	1h	2.6546	+0.008%	$76K	$43K	25x	as long as short
Variational Omni MORPHOshort	−0.0201%	4h	2.6491	−0.198%	$630K	$1.0M	—
BloFin MORPHO-USDT	−0.0187%	4h	2.6506	−0.143%	$637K	$253K	20x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_MORPHO_USDC	−0.0144%	4h	2.6510	−0.128%	$10K	$34K	10x	as long as short
Gate MORPHO_USDT	−0.0068%	4h	2.6549	+0.019%	$770K	$533K	50x	as long as short
Phoenix MORPHO	−0.0060%	1h	2.6548	+0.015%	$43K	$477K	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6509	−0.130%	$16	—	10x	as long as short
Binance MORPHOUSDTlong	+0.0053%	4h	2.6544	long leg	$16.1M	$26.0M	75x
MEXC MORPHO_USDT	+0.0054%	4h	2.6550	+0.023%	$5.5M	$961K	100x	as long as short
Extended MORPHO-USD	+0.0056%	1h	2.6542	−0.009%	$103K	$298K	10x	as long as short
Aster MORPHOUSDT	+0.0057%	4h	2.6530	−0.053%	$58K	$30K	20x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6553	+0.035%	$316K	$331K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6503	−0.156%	$5K	$3	5x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6549	+0.019%	$3.2M	$4.5M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6548	+0.015%	$595K	$267K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6549	+0.019%	$2.9M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6555	+0.041%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6508	−0.136%	$22K	$4K	5x	as long as short
Hyperliquid MORPHO	+0.0107%	1h	2.6580	+0.136%	$6.3M	$7.0M	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0158% / S −0.3418%	1h	2.6539	−0.017%	$1K	—	100x	as long as short