Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.029%
Price spread now: Variational Omni against Hyperliquid−0.150%7-day average −0.119% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.036%−$4 on $10k
+Price spread, last 3 days (all we have)+0.140%+$14 · spread now −0.150%, 7d avg −0.119%
=Together, before fees+0.104%+ Points / potential airdropHyperliquid: Season 2 · Variational Omni: Active · farm board+$10 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: Variational Omni is 0.031% cheaper against Hyperliquid than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.119%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid MORPHO | 2.6540 | 0.0100 | pay 0.0013% / 1h | 39m 55s | $6.2M | $7.2M | 5x |
| Short | Variational Omni MORPHO | 2.6500 | 0.0100 | get 0.0050% / 4h | 2h 39m | $644K | $1.4M | — |
Hyperliquid MORPHO
Variational Omni MORPHOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against Hyperliquid. 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
- Price spread: −0.150% → −0.119%
- −$3.08
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$12.08
- Costs to cover
- 0.090%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 2 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 Hyperliquid live order book, 2 min ago | 0.94 bp | 15.5 bp −$16 | doesn't fit | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 4 min ago | 6.49 bp | doesn't fit | 84.7 bp −$847 | 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 | −0.2058% | 1h | 2.6491 | −0.186% | $83K | $148K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1107% | 1h | 2.6498 | −0.158% | $11K | $911 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.1048% | 1h | 2.6457 | −0.313% | $869 | $12K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0562% | 1h | 2.6493 | −0.177% | $26K | $1.9M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0550% | 4h | 2.6452 | −0.333% | $29K | $162K | 10x | as long as short |
| Injective MORPHO/USDC PERP | −0.0385% | 1h | 2.6460 | −0.301% | $37 | $161K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0296% | 1h | 2.6527 | −0.049% | $76K | $46K | 25x | as long as short |
| Bybit MORPHOUSDT | −0.0236% | 4h | 2.6496 | −0.166% | $8.6M | $10.1M | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6503 | −0.139% | $652K | $221K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0182% | 4h | 2.6490 | −0.188% | $10K | $34K | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
Bybit MORPHOUSDT
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDCShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | −0.0156% | 4h | 2.6501 | −0.147% | $760K | $523K | 50x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6479 | −0.230% | $34K | $493K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6501 | −0.146% | $16 | — | 10x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6579 | +0.148% | $317K | $336K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6494 | −0.173% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHOlong | +0.0100% | 1h | 2.6540 | long leg | $6.2M | $7.2M | 5x | |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6528 | −0.044% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6484 | −0.210% | $16.2M | $26.9M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6505 | −0.132% | $3.2M | $4.5M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6491 | −0.185% | $5.3M | $1.2M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6528 | −0.045% | $622K | $271K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6514 | −0.098% | $2.9M | $2.0M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6508 | −0.121% | — | $1.5M | — | as long as short |
| Variational Omni MORPHOshort | +0.0100% | 4h | 2.6500 | −0.150% | $644K | $1.4M | — | |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6489 | −0.192% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6481 | −0.223% | $103K | $301K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6520 | −0.074% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Phoenix MORPHO
Reya MORPHORUSDPERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Aster MORPHOUSDT
Binance MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]