Funding you earn now, next payment 03:00 UTC−0.0008%/8h= −0.9% APRnext payment −$0.01 per $10,000 · paid last 24h +0.002%
Price spread now: Lighter against Extended+0.172%7-day average +0.283% · you sell dearer than you buy
Net, funding: paid 7d − costs−$100as in the Funding arb table
Net, price: spread back to 7d avg − costs−$119as in the Price arb table
costs, in and out, $10k−$1081.077% of the position
Funding, last 7 days+0.076%+$8 on $10k
+Price spread, last 4 days (all we have)+0.427%+$43 · spread now +0.172%, 7d avg +0.283%
=Together, before fees+0.503%+ Points / potential airdropExtended: Active · Lighter: Season 3 · farm board+$50 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: Lighter is 0.111% cheaper against Extended than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.283%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended MORPHO-USD | 2.6103 | 0.0104 | pay 0.0013% / 1h | 44m 07s | $101K | $350K | 10x |
| Short | Lighter MORPHO | 2.6148 | 0.0096 | get 0.0012% / 1h | 44m 07s | $313K | $308K | 5x |
Extended MORPHO-USD
Lighter MORPHOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Extended. 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
- −$1.68
- Price spread: +0.172% → +0.283%
- −$11.1
- Slippage, 4 orders
- −$102.75
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$120.52
- Costs to cover
- 1.077%
- Break-even
- never at this rate
Slippage from Extended: live order book, 18 min ago; Lighter: live order book, 10 min ago.
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 Extended live order book, 18 min ago | 3.05 bp | 22.0 bp −$22 | 185.5 bp −$1,855 | doesn't fit | doesn't fit |
| 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 |
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 | +0.002% | $81K | $128K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1241% | 1h | 2.6120 | +0.065% | $11K | $955 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0552% | 1h | 2.6087 | −0.062% | $857 | $9K | 5x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6128 | +0.095% | $638K | $242K | 20x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0192% | 1h | 2.6327 | +0.858% | $75K | $42K | 25x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0158% | 4h | 2.6112 | +0.034% | $10K | $34K | 10x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0120% | 4h | 2.6077 | −0.100% | $32K | $142K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0079% | 1h | 2.6128 | +0.095% | $25K | $1.8M | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6126 | +0.087% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | 0.0000% | 1h | 2.6097 | −0.023% | $43K | $392K | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
BloFin MORPHO-USDT
Coinbase International MORPHO-PERP-INTX
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 | 2.6118 | +0.057% | $753K | $503K | 50x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +1.252% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHOshort | +0.0096% | 1h | 2.6148 | +0.172% | $313K | $308K | 5x | |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6131 | +0.108% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6191 | +0.337% | $6.1M | $7.0M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6128 | +0.095% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6132 | +0.111% | $15.7M | $25.7M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6148 | +0.172% | $8.3M | $9.4M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6166 | +0.241% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6127 | +0.092% | $5.8M | $840K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6145 | +0.161% | $595K | $254K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6137 | +0.130% | $2.8M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6135 | +0.122% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6105 | +0.009% | $622K | $907K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6117 | +0.053% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USDlong | +0.0104% | 1h | 2.6103 | long leg | $101K | $350K | 10x | |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6132 | +0.113% | $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
GMX MORPHO/USD [ETH-USDC]