MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0300%/8h= −32.9% APRnext payment −$1.50 per $10,000 · paid last 24h −0.074%

Price spread now: BloFin against Variational Omni+0.087%101s7-day average −0.015% · you sell dearer than you buy

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

Long on Variational Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.103%+$10 on $10k

Price spread, last 4 days (all we have)+0.245%+$25 · spread now +0.087%, 7d avg −0.015%

Together, before fees+0.348%+ Points / potential airdropVariational Omni: Active · farm board+$35 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.102% dearer against Variational Omni than usual: you sell high and buy low (spread +0.087% now, against its 7-day average of −0.015%): +$10 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 27 hours. Mind the row above: over the last 4 days funding on this pair paid +0.103%, so the current rate has only just turned against you. The two prices were read 101 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.103% in total (about 10.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.50 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	Variational Omni MORPHO	2.5880	0.0100	pay 0.0050% / 4h	2h 17m	$615K	$677K	—
Short	BloFin MORPHO-USDT	2.5903	−0.0200	pay 0.0100% / 4h	2h 17m	$631K	$239K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee BloFinbpOrdersPrice spread, now +0.087%Rate

Funding earned: −$63
Price spread: +0.087% → −0.015%: $10.2
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$64.8
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 36 min ago; BloFin: live order book, 9 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 Variational Omni RFQ quote, 36 min ago	6.58 bp	doesn't fit	66.1 bp −$661	doesn't fit	doesn't fit
Sell BloFin live order book, 9 min ago	0.58 bp	16.9 bp −$17	29.1 bp −$291	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	−0.1556%	1h	2.5948	+0.262%	$81K	$128K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1482%	1h	2.5939	+0.226%	$11K	$2K	10x	as long as short
01 Exchange MORPHOUSD	−0.0816%	1h	2.5894	+0.052%	$851	$9K	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0306%	4h	2.5912	+0.123%	$33K	$134K	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0216%	1h	2.5783	−0.377%	$73K	$39K	25x	as long as short
BloFin MORPHO-USDTshort	−0.0200%	4h	2.5903	+0.087%	$631K	$239K	20x
Phoenix MORPHO	−0.0154%	1h	2.5939	+0.226%	$33K	$330K	5x	as long as short
Orderly PERP_MORPHO_USDC	−0.0129%	4h	2.5947	+0.257%	$10K	$34K	10x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.5914	+0.130%	$16	—	10x	as long as short
Polymarket Perps MORPHO-USD	+0.0016%	1h	2.5920	+0.153%	$25K	$1.5M	5x	as long as short

Show 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	+2.123%	$37	$242K	5.5x	as long as short
Lighter MORPHO	+0.0096%	1h	2.5951	+0.271%	$312K	$295K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.5944	+0.246%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.5946	+0.253%	$5.9M	$6.9M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.5913	+0.128%	$57K	$31K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.5903	+0.087%	$15.7M	$24.2M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.5942	+0.238%	$8.0M	$8.5M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.5933	+0.203%	$3.2M	$4.0M	20x	as long as short
Gate MORPHO_USDT	+0.0100%	4h	2.5935	+0.211%	$757K	$497K	50x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.5902	+0.083%	$6.2M	$911K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.5945	+0.249%	$598K	$247K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.5917	+0.141%	$2.8M	$1.6M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.5943	+0.242%	—	$1.4M	—	as long as short
Variational Omni MORPHOlong	+0.0100%	4h	2.5880	long leg	$615K	$677K	—
SoDEX MORPHO-USD	+0.0100%	1h	2.5937	+0.218%	$21K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.5899	+0.071%	$100K	$347K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0145% / S +0.0040%	1h	2.5969	+0.341%	$6K	—	100x	as long as short