Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.013%
Price spread now: Extended against Variational Omni+0.063%7-day average −0.047% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.020%+$2 on $10k
+Price spread, last 4 days (all we have)−0.268%−$27 · spread now +0.063%, 7d avg −0.047%
=Together, before fees−0.248%+ Points / potential airdropVariational Omni: Active · Extended: Active · farm board−$25 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: Extended is 0.110% dearer against Variational Omni than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.047%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Variational Omni MORPHO | 2.6035 | 0.0100 | pay 0.0050% / 4h | 51m 02s | $622K | $843K | — |
| Short | Extended MORPHO-USD | 2.6052 | 0.0104 | get 0.0013% / 1h | 51m 02s | $100K | $348K | 10x |
Variational Omni MORPHO
Extended MORPHO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended 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
- $0.84
- Price spread: +0.063% → −0.047%
- $11.01
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- $6.85
- Costs to cover
- 0.050%
- Break-even
- from the start
Slippage unknown: Variational Omni: RFQ quote, 13 min ago; Extended: live order book, 6 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, 13 min ago | 6.55 bp | doesn't fit | 68.6 bp −$686 | doesn't fit | doesn't fit |
| Sell Extended live order book, 6 min ago | 1.92 bp | 21.2 bp −$21 | 252.4 bp −$2,524 | 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 | −0.1665% | 1h | 2.6021 | −0.054% | $81K | $128K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1169% | 1h | 2.6032 | −0.013% | $11K | $759 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0824% | 1h | 2.5982 | −0.205% | $854 | $9K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0271% | 1h | 2.6058 | +0.087% | $25K | $1.7M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0230% | 4h | 2.6115 | +0.305% | $34K | $150K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0224% | 1h | 2.6172 | +0.525% | $75K | $42K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6026 | −0.036% | $636K | $239K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0154% | 4h | 2.6037 | +0.006% | $10K | $34K | 10x | as long as short |
| Gate MORPHO_USDT | −0.0016% | 4h | 2.6080 | +0.171% | $755K | $478K | 50x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.6046 | +0.040% | $16 | — | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDC
Gate MORPHO_USDT
Reya MORPHORUSDPERPShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix MORPHO | 0.0000% | 1h | 2.6144 | +0.417% | $43K | $370K | 5x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +1.515% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6081 | +0.175% | $313K | $309K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6012 | −0.090% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6083 | +0.183% | $6.1M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6087 | +0.196% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6051 | +0.060% | $15.7M | $25.3M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6070 | +0.133% | $8.2M | $9.2M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6085 | +0.190% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6062 | +0.102% | $5.8M | $789K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6089 | +0.206% | $592K | $251K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6050 | +0.056% | $2.8M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6080 | +0.171% | — | $1.4M | — | as long as short |
| Variational Omni MORPHOlong | +0.0100% | 4h | 2.6035 | long leg | $622K | $843K | — | |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6032 | −0.013% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USDshort | +0.0104% | 1h | 2.6052 | +0.063% | $100K | $348K | 10x | |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6069 | +0.130% | $1K | — | 100x | as long as short |
Phoenix MORPHO
Injective MORPHO/USDC PERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]