Funding you earn now, next payment 03:00 UTC−0.0086%/8h= −9.5% APRpaid last 24h −0.028%
Price spread now: Variational Omni against GMX+0.085%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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. Variational Omni is 0.085% dearer against GMX than usual: you sell high and buy low (spread +0.085% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.3 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX MORPHO/USD [ETH-USDC] | 2.6133 | L +0.0186% / S −15.6829% | pay 0.0023% / 1h | 37m 51s | $1K | — | 100x |
| Short | Variational Omni MORPHO | 2.6155 | 0.0100 | get 0.0050% / 4h | 1h 37m | $624K | $907K | — |
GMX MORPHO/USD [ETH-USDC]
Variational Omni MORPHOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against GMX. 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
- −$18.13
- Price spread: +0.085% → 0.000%
- $8.54
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$21.59
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Variational Omni: RFQ quote, 31 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 GMX no order-book sample | — | — | — | — | — |
| Sell Variational Omni RFQ quote, 31 min ago | 4.63 bp | doesn't fit | 63.1 bp −$631 | doesn't fit | doesn't fit |
GMX: 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 | −0.1681% | 1h | 2.6075 | −0.221% | $81K | $128K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1127% | 1h | 2.6104 | −0.109% | $11K | $955 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0560% | 1h | 2.6085 | −0.182% | $857 | $9K | 5x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6121 | −0.044% | $638K | $242K | 20x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0192% | 1h | 2.6327 | +0.744% | $75K | $42K | 25x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0156% | 4h | 2.6104 | −0.109% | $10K | $34K | 10x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0114% | 4h | 2.6163 | +0.116% | $32K | $142K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0106% | 1h | 2.6111 | −0.083% | $25K | $1.8M | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6102 | −0.117% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | 0.0000% | 1h | 2.6187 | +0.208% | $43K | $392K | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
BloFin MORPHO-USDT
Coinbase International MORPHO-PERP-INTX
Orderly PERP_MORPHO_USDC
GRVT MORPHO_USDT_Perp
Polymarket Perps MORPHO-USD
Reya MORPHORUSDPERP
Phoenix MORPHOShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +1.138% | $37 | $242K | 5.5x | as long as short |
| Gate MORPHO_USDT | +0.0050% | 4h | 2.6145 | +0.048% | $754K | $503K | 50x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6138 | +0.020% | $313K | $308K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6127 | −0.020% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6176 | +0.166% | $6.1M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6128 | −0.018% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6111 | −0.083% | $15.7M | $25.7M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6130 | −0.010% | $8.3M | $9.4M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6142 | +0.036% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6109 | −0.090% | $5.8M | $840K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6143 | +0.040% | $595K | $252K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6152 | +0.074% | $2.8M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6126 | −0.025% | — | $1.4M | — | as long as short |
| Variational Omni MORPHOshort | +0.0100% | 4h | 2.6155 | +0.085% | $624K | $907K | — | |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6106 | −0.102% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6095 | −0.144% | $100K | $355K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC]long | L +0.0186% / S −15.6829% | 1h | 2.6133 | long leg | $1K | — | 100x |
Injective MORPHO/USDC PERP
Gate MORPHO_USDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
Extended MORPHO-USD