MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0396%/8h= −43.4% APRnext payment −$1.98 per $10,000 · paid last 24h −0.009%

Price spread now: Bybit against Variational Omni+0.037%7-day average +0.036% · you sell dearer than you buy

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

Long on Variational Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.009%−$1 on $10k

Price spread, last 3 days (all we have)−0.084%−$8 · spread now +0.037%, 7d avg +0.036%

Together, before fees−0.093%+ Points / potential airdropVariational Omni: Active · farm board−$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.036%, so right now this pair is about funding alone: −$12 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.009% in total (about -1.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.98 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	2.6500	0.0100	pay 0.0050% / 4h	2h 37m	$644K	$1.4M	—
Short	Bybit MORPHOUSDT	2.6510	−0.0296	pay 0.0148% / 4h	2h 37m	$8.6M	$10.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.037%Rate

Funding earned: −$83.22
Price spread: +0.037% → +0.036%: $0.15
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$94.07
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Bybit: live order book, 5 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, 1 min ago	6.49 bp	doesn't fit	100.3 bp −$1,003	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	3.78 bp	25.5 bp −$26	86.3 bp −$863	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	−0.2062%	1h	2.6434	−0.250%	$82K	$148K	20x	as long as short
01 Exchange MORPHOUSD	−0.1008%	1h	2.6470	−0.114%	$870	$12K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0994%	1h	2.6498	−0.008%	$11K	$911	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0543%	1h	2.6492	−0.031%	$26K	$1.9M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0500%	4h	2.6504	+0.014%	$29K	$154K	10x	as long as short
Injective MORPHO/USDC PERP	−0.0385%	1h	2.6460	−0.151%	$37	$161K	5.5x	as long as short
Bybit MORPHOUSDTshort	−0.0296%	4h	2.6510	+0.037%	$8.6M	$10.1M	25x
Coinbase International MORPHO-PERP-INTX	−0.0296%	1h	2.6527	+0.101%	$76K	$46K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6462	−0.144%	$648K	$221K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0183%	4h	2.6490	−0.038%	$10K	$34K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MORPHO_USDT	−0.0166%	4h	2.6482	−0.068%	$759K	$523K	50x	as long as short
Phoenix MORPHO	−0.0030%	1h	2.6516	+0.060%	$34K	$493K	5x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6496	−0.016%	$16	—	10x	as long as short
Lighter MORPHO	+0.0096%	1h	2.6593	+0.350%	$317K	$336K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6508	+0.029%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6540	+0.150%	$6.2M	$7.2M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6522	+0.083%	$58K	$33K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6506	+0.022%	$16.2M	$26.9M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6526	+0.098%	$3.2M	$4.5M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6499	−0.004%	$5.3M	$1.2M	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6509	+0.033%	$622K	$271K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6527	+0.101%	$2.9M	$2.0M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6504	+0.015%	—	$1.5M	—	as long as short
Variational Omni MORPHOlong	+0.0100%	4h	2.6500	long leg	$644K	$1.4M	—
SoDEX MORPHO-USD	+0.0100%	1h	2.6488	−0.046%	$22K	$3K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6503	+0.010%	$103K	$301K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0188% / S −12.8197%	1h	2.6521	+0.081%	$1K	—	100x	as long as short