Funding you earn now, next payment 22:00 UTC+0.1454%/8h= +159.2% APRnext payment +$1.82 per $10,000 · paid last 24h +0.242%
Price spread now: Lighter against Deribit+0.310%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 airdropLighter: Season 3 · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$44 a day on $10k at the current rate, and Lighter is 0.310% dearer against Deribit than usual: you sell high and buy low: +$31 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit MORPHO_USDC-PERPETUAL | 2.6703 | −0.1358 | get 0.0170% / 1h | 58m 08s | $10K | $623 | 10x |
| Short | Lighter MORPHO | 2.6786 | 0.0096 | get 0.0012% / 1h | 58m 08s | $319K | $335K | 5x |
Deribit MORPHO_USDC-PERPETUAL
Lighter MORPHOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Deribit. 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
- $305.28
- Price spread: +0.310% → 0.000%
- $31.05
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $329.33
- Costs to cover
- 0.070%
- Break-even
- from the start
Slippage unknown: Deribit: no order-book sample; Lighter: live order book, 25 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 Deribit no order-book sample | — | — | — | — | — |
| Sell Lighter live order book, 25 min ago | 7.10 bp | 7.1 bp −$7 | 138.0 bp −$1,380 | doesn't fit | doesn't fit |
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 | −0.2043% | 1h | 2.6680 | −0.086% | $84K | $152K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUALlong | −0.1358% | 1h | 2.6703 | long leg | $10K | $623 | 10x | |
| 01 Exchange MORPHOUSD | −0.1096% | 1h | 2.6676 | −0.101% | $877 | $12K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0514% | 4h | 2.6774 | +0.265% | $41K | $151K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0514% | 1h | 2.6743 | +0.150% | $25K | $2.0M | 5x | as long as short |
| Injective MORPHO/USDC PERP | −0.0385% | 1h | 2.7020 | +1.187% | $38 | $123K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0296% | 1h | 2.6813 | +0.412% | $77K | $46K | 25x | as long as short |
| Bybit MORPHOUSDT | −0.0278% | 4h | 2.6718 | +0.056% | $8.8M | $10.2M | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6776 | +0.273% | $654K | $206K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0200% | 4h | 2.6707 | +0.015% | $10K | $34K | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Polymarket Perps MORPHO-USD
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
Bybit MORPHOUSDT
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDCShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | −0.0182% | 4h | 2.6748 | +0.169% | $764K | $517K | 50x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6743 | +0.151% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | +0.0059% | 1h | 2.6824 | +0.453% | $34K | $470K | 5x | as long as short |
| Lighter MORPHOshort | +0.0096% | 1h | 2.6786 | +0.310% | $319K | $335K | 5x | |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6740 | +0.137% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6737 | +0.127% | $6.4M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6762 | +0.221% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6674 | −0.109% | $16.4M | $26.8M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6706 | +0.011% | $3.2M | $4.6M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6700 | −0.011% | $5.4M | $1.1M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6762 | +0.221% | $603K | $270K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6737 | +0.127% | $2.9M | $2.0M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6715 | +0.045% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6815 | +0.421% | $651K | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6701 | −0.007% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6707 | +0.016% | $104K | $301K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0193% / S −16.5420% | 1h | 2.6761 | +0.216% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Reya MORPHORUSDPERP
Phoenix 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
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]