Funding you earn now, next payment 00:00 UTC−0.0278%/8h= −30.4% APRnext payment −$1.39 per $10,000 · paid last 24h −0.065%
Price spread now: Orderly against Variational Omni+0.007%7-day average — · 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)—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
The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$8 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Variational Omni MORPHO | 2.6494 | 0.0100 | pay 0.0050% / 4h | 2h 32m | $643K | $1.4M | — |
| Short | Orderly PERP_MORPHO_USDC | 2.6496 | −0.0178 | pay 0.0089% / 4h | 2h 32m | $10K | $34K | 10x |
Variational Omni MORPHO
Orderly PERP_MORPHO_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$58.27
- Price spread: +0.007% → 0.000%
- $0.73
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$63.55
- Costs to cover
- 0.060%
- Break-even
- never at this rate
Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Orderly: 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, 2 min ago | 4.62 bp | doesn't fit | 104.3 bp −$1,043 | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | −0.2058% | 1h | 2.6485 | −0.034% | $83K | $148K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1182% | 1h | 2.6499 | +0.019% | $11K | $911 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0920% | 1h | 2.6467 | −0.102% | $870 | $12K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0467% | 1h | 2.6498 | +0.015% | $26K | $1.8M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0462% | 4h | 2.6508 | +0.054% | $29K | $154K | 10x | as long as short |
| Injective MORPHO/USDC PERP | −0.0385% | 1h | 2.6460 | −0.129% | $37 | $161K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0296% | 1h | 2.6523 | +0.109% | $76K | $46K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6481 | −0.049% | $645K | $222K | 20x | as long as short |
| Bybit MORPHOUSDT | −0.0191% | 4h | 2.6520 | +0.098% | $8.6M | $10.1M | 25x | as long as short |
| Orderly PERP_MORPHO_USDCshort | −0.0178% | 4h | 2.6496 | +0.007% | $10K | $34K | 10x |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Bybit MORPHOUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | −0.0132% | 4h | 2.6500 | +0.022% | $760K | $523K | 50x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6527 | +0.124% | $34K | $493K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6504 | +0.039% | $16 | — | 10x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6545 | +0.191% | $316K | $336K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6499 | +0.019% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6542 | +0.181% | $6.2M | $7.2M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6525 | +0.117% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6497 | +0.011% | $16.2M | $26.9M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6533 | +0.147% | $3.2M | $4.5M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6491 | −0.012% | $5.3M | $1.2M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6504 | +0.037% | $621K | $271K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6496 | +0.007% | $2.9M | $2.0M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6515 | +0.079% | — | $1.5M | — | as long as short |
| Variational Omni MORPHOlong | +0.0100% | 4h | 2.6494 | long leg | $643K | $1.4M | — | |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6491 | −0.012% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6489 | −0.020% | $103K | $301K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6519 | +0.092% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Phoenix MORPHO
Reya MORPHORUSDPERP
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]