Funding you earn now, next payment 02:00 UTC+0.0288%/8h= +31.5% APRnext payment +$0.36 per $10,000 · paid last 24h −0.022%
Price spread now: Lighter against Coinbase International−0.680%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.103%−$10 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories
Funding pays, the price is against you. Lighter is 0.680% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.680% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$68 on $10k: about 7.9 days of funding at the current rate (+$9 a day). Mind the row above: over the last 7 days funding on this pair cost −0.103%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.103% in total (about -5.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.36 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 | Coinbase International MORPHO-PERP-INTX | 2.6327 | −0.0192 | get 0.0024% / 1h | 44m 17s | $75K | $42K | 25x |
| Short | Lighter MORPHO | 2.6148 | 0.0096 | get 0.0012% / 1h | 44m 17s | $313K | $308K | 5x |
Coinbase International MORPHO-PERP-INTX
Lighter MORPHOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Coinbase International. 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
- $60.48
- Price spread: −0.680% → 0.000%
- −$68.03
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$17.55
- Costs to cover
- 0.100%
- Break-even
- 9.0 days
Slippage unknown: Coinbase International: no order-book sample; Lighter: live order book, 10 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 Coinbase International no order-book sample | — | — | — | — | — |
| Sell Lighter live order book, 10 min ago | 30.89 bp | 32.3 bp −$32 | 179.2 bp −$1,792 | doesn't fit | doesn't fit |
Coinbase International: 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 | −0.1679% | 1h | 2.6104 | −0.849% | $81K | $128K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1241% | 1h | 2.6120 | −0.786% | $11K | $955 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0552% | 1h | 2.6087 | −0.912% | $857 | $9K | 5x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6128 | −0.756% | $638K | $242K | 20x | as long as short |
| Coinbase International MORPHO-PERP-INTXlong | −0.0192% | 1h | 2.6327 | long leg | $75K | $42K | 25x | |
| Orderly PERP_MORPHO_USDC | −0.0158% | 4h | 2.6112 | −0.817% | $10K | $34K | 10x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0120% | 4h | 2.6077 | −0.950% | $32K | $142K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0079% | 1h | 2.6128 | −0.756% | $25K | $1.8M | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6126 | −0.764% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | 0.0000% | 1h | 2.6097 | −0.874% | $43K | $392K | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDC
GRVT MORPHO_USDT_Perp
Polymarket Perps MORPHO-USD
Reya MORPHORUSDPERP
Phoenix MORPHOShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | +0.0032% | 4h | 2.6117 | −0.798% | $753K | $503K | 50x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +0.391% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHOshort | +0.0096% | 1h | 2.6148 | −0.680% | $313K | $308K | 5x | |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6131 | −0.743% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6172 | −0.589% | $6.1M | $7.0M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6128 | −0.756% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6117 | −0.798% | $15.7M | $25.7M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6148 | −0.680% | $8.3M | $9.4M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6166 | −0.612% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6127 | −0.760% | $5.8M | $840K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6145 | −0.691% | $595K | $254K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6137 | −0.722% | $2.8M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6122 | −0.779% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6105 | −0.842% | $622K | $907K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6117 | −0.798% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6103 | −0.851% | $101K | $350K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6132 | −0.739% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Injective MORPHO/USDC PERP
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
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]