Funding you earn now, next payment 01:00 UTC−0.0129%/8h= −14.1% APRpaid last 24h −0.015%
Price spread now: Variational Omni against SoDEX−0.106%7-day average — · 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)—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
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Variational Omni is 0.106% cheaper against SoDEX than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | SoDEX MORPHO-USD | 2.6704 | 0.0100 | pay 0.0013% / 1h | 6m 48s | $22K | $4K | 5x |
| Short | Variational Omni MORPHO | 2.6676 | −0.0029 | pay 0.0015% / 4h | 3h 06m | $636K | $926K | — |
SoDEX MORPHO-USD
Variational Omni MORPHOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against SoDEX. 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
- −$27.14
- Price spread: −0.106% → 0.000%
- −$10.64
- Slippage, 4 orders
- no order book: not counted
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$45.77
- Costs to cover
- 0.080%
- Break-even
- never at this rate
Slippage unknown: SoDEX: no order-book sample; Variational Omni: RFQ quote, 7 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 SoDEX no order-book sample | — | — | — | — | — |
| Sell Variational Omni RFQ quote, 7 min ago | 4.60 bp | doesn't fit | 51.5 bp −$515 | doesn't fit | doesn't fit |
SoDEX: 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 | −0.1823% | 1h | 2.6662 | −0.158% | $81K | $125K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0835% | 1h | 2.6702 | −0.007% | $11K | $785 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0408% | 1h | 2.6682 | −0.082% | $877 | $13K | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0280% | 1h | 2.6743 | +0.146% | $77K | $43K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6687 | −0.064% | $606K | $233K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0144% | 4h | 2.6688 | −0.060% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6710 | +0.022% | $44K | $474K | 5x | as long as short |
| Variational Omni MORPHOshort | −0.0029% | 4h | 2.6676 | −0.106% | $636K | $926K | — | |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6704 | 0.000% | $16 | — | 10x | as long as short |
| Polymarket Perps MORPHO-USD | +0.0009% | 1h | 2.6708 | +0.015% | $25K | $1.7M | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDC
Phoenix MORPHO
Reya MORPHORUSDPERP
Polymarket Perps MORPHO-USDShow 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 | −1.026% | $37 | $242K | 5.5x | as long as short |
| GRVT MORPHO_USDT_Perp | +0.0056% | 4h | 2.6686 | −0.068% | $41K | $133K | 10x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6787 | +0.311% | $321K | $325K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6716 | +0.044% | $5K | $3 | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6710 | +0.022% | $58K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6682 | −0.081% | $16.2M | $25.4M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6700 | −0.015% | $8.6M | $9.0M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6663 | −0.154% | $3.2M | $4.3M | 20x | as long as short |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.6695 | −0.034% | $770K | $525K | 50x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6669 | −0.131% | $5.6M | $906K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6709 | +0.019% | $601K | $262K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6699 | −0.019% | $2.9M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6698 | −0.022% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USDlong | +0.0100% | 1h | 2.6704 | long leg | $22K | $4K | 5x | |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6679 | −0.093% | $102K | $362K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0187% / S −0.4126% | 1h | 2.6713 | +0.035% | $1K | — | 100x | as long as short |
| Hyperliquid MORPHO | +0.0355% | 1h | 2.6745 | +0.154% | $6.3M | $6.9M | 5x | as long as short |
Injective MORPHO/USDC PERP
GRVT MORPHO_USDT_Perp
Lighter MORPHO
Paradex MORPHO-USD-PERP
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
Gate MORPHO_USDT
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]
Hyperliquid MORPHO