Funding you earn now, next payment 23:00 UTC−0.1222%/8h= −133.8% APRpaid last 24h −0.262%
Price spread now: Deribit against Variational Omni−0.230%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 −$37 a day on $10k at the current rate, and Deribit is 0.230% cheaper against Variational Omni than usual: you would sell low and buy high (−$23 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 | Variational Omni MORPHO | 2.6477 | −0.0040 | get 0.0020% / 4h | 1h 38m | $629K | $1.2M | — |
| Short | Deribit MORPHO_USDC-PERPETUAL | 2.6416 | −0.1262 | pay 0.0158% / 1h | 38m 15s | $11K | $911 | 10x |
Variational Omni MORPHO
Deribit MORPHO_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Variational Omni. 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
- −$256.67
- Price spread: −0.230% → 0.000%
- −$23.02
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$286.69
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Deribit: no order-book sample. 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 | 4.61 bp | doesn't fit | 69.8 bp −$698 | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
Deribit: 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 | −0.1861% | 1h | 2.6378 | −0.375% | $82K | $150K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUALshort | −0.1262% | 1h | 2.6416 | −0.230% | $11K | $911 | 10x | |
| 01 Exchange MORPHOUSD | −0.1160% | 1h | 2.6350 | −0.479% | $866 | $13K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0647% | 1h | 2.6420 | −0.215% | $26K | $1.7M | 5x | as long as short |
| Bybit MORPHOUSDT | −0.0631% | 4h | 2.6420 | −0.215% | $8.5M | $9.5M | 25x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0576% | 4h | 2.6444 | −0.124% | $29K | $146K | 10x | as long as short |
| Injective MORPHO/USDC PERP | −0.0337% | 1h | 2.6430 | −0.177% | $37 | $242K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0312% | 1h | 2.6427 | −0.189% | $76K | $43K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0206% | 4h | 2.6412 | −0.245% | $640K | $244K | 20x | as long as short |
| Gate MORPHO_USDT | −0.0182% | 4h | 2.6464 | −0.049% | $771K | $530K | 50x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
Bybit MORPHOUSDT
GRVT MORPHO_USDT_Perp
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Gate MORPHO_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_MORPHO_USDC | −0.0154% | 4h | 2.6420 | −0.215% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0090% | 1h | 2.6514 | +0.140% | $34K | $484K | 5x | as long as short |
| Variational Omni MORPHOlong | −0.0040% | 4h | 2.6477 | long leg | $629K | $1.2M | — | |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6426 | −0.191% | $16 | — | 10x | as long as short |
| MEXC MORPHO_USDT | +0.0078% | 4h | 2.6400 | −0.291% | $5.2M | $1.1M | 100x | as long as short |
| Binance MORPHOUSDT | +0.0079% | 4h | 2.6407 | −0.266% | $16.1M | $25.9M | 75x | as long as short |
| Extended MORPHO-USD | +0.0080% | 1h | 2.6413 | −0.241% | $103K | $301K | 10x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6446 | −0.115% | $315K | $334K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6391 | −0.325% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6482 | +0.019% | $6.2M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6454 | −0.087% | $58K | $33K | 20x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6406 | −0.268% | $3.2M | $4.4M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6437 | −0.151% | $618K | $263K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6427 | −0.189% | $2.9M | $1.9M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6415 | −0.234% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6410 | −0.253% | $22K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6461 | −0.060% | $1K | — | 100x | as long as short |
Orderly PERP_MORPHO_USDC
Phoenix MORPHO
Reya MORPHORUSDPERP
MEXC MORPHO_USDT
Binance MORPHOUSDT
Extended MORPHO-USD
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]