Funding you earn now, next payment 23:00 UTC+0.0258%/8h= +28.3% APRpaid last 24h +0.087%
Price spread now: Lighter against Gate−0.002%7-day average +0.268% · you buy dearer than you sell
Net, funding: paid 7d − costs−$101as in the Funding arb table
Net, price: spread back to 7d avg − costs−$157as in the Price arb table
costs, in and out, $10k−$1301.298% of the position
Funding, last 7 days+0.286%+$29 on $10k
+Price spread, last 4 days (all we have)+0.507%+$51 · spread now −0.002%, 7d avg +0.268%
=Together, before fees+0.793%+ Points / potential airdropLighter: Season 3 · farm board+$79 on $10k · with fees, hour by hour
Funding pays, the price is against you. Lighter is 0.269% cheaper against Gate than usual: you would sell low and buy high (spread −0.002% now, against its 7-day average of +0.268%). If the spread goes back, that is −$27 on $10k: about 3.5 days of funding at the current rate (+$8 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate MORPHO_USDT | 2.6475 | −0.0162 | get 0.0081% / 4h | 1h 39m | $771K | $530K | 50x |
| Short | Lighter MORPHO | 2.6475 | 0.0096 | get 0.0012% / 1h | 39m 22s | $315K | $333K | 5x |
Gate MORPHO_USDT
Lighter MORPHOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Gate. 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
- $54.18
- Price spread: −0.002% → +0.268%
- −$26.91
- Slippage, 4 orders
- −$114.76
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$102.49
- Costs to cover
- 1.298%
- Break-even
- 20.2 days
Slippage from Gate: live order book, 42 min ago; Lighter: live order book, 35 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 Gate live order book, 42 min ago | 7.33 bp | 44.6 bp −$45 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 35 min ago | 14.65 bp | 16.9 bp −$17 | 164.1 bp −$1,641 | 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 | −0.1857% | 1h | 2.6429 | −0.175% | $82K | $150K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1261% | 1h | 2.6433 | −0.159% | $11K | $911 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.1152% | 1h | 2.6352 | −0.465% | $866 | $13K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0639% | 1h | 2.6422 | −0.200% | $26K | $1.7M | 5x | as long as short |
| Bybit MORPHOUSDT | −0.0611% | 4h | 2.6440 | −0.132% | $8.5M | $9.4M | 25x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0576% | 4h | 2.6444 | −0.116% | $29K | $146K | 10x | as long as short |
| Injective MORPHO/USDC PERP | −0.0337% | 1h | 2.6430 | −0.170% | $37 | $242K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0312% | 1h | 2.6427 | −0.181% | $76K | $43K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0206% | 4h | 2.6412 | −0.238% | $640K | $244K | 20x | as long as short |
| Gate MORPHO_USDTlong | −0.0162% | 4h | 2.6475 | long leg | $771K | $530K | 50x |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
Bybit MORPHOUSDT
GRVT MORPHO_USDT_Perp
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_MORPHO_USDC | −0.0154% | 4h | 2.6437 | −0.144% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0090% | 1h | 2.6514 | +0.147% | $34K | $484K | 5x | as long as short |
| Variational Omni MORPHO | −0.0040% | 4h | 2.6477 | +0.007% | $629K | $1.2M | — | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6430 | −0.171% | $16 | — | 10x | as long as short |
| Binance MORPHOUSDT | +0.0079% | 4h | 2.6422 | −0.199% | $16.1M | $26.0M | 75x | as long as short |
| Extended MORPHO-USD | +0.0080% | 1h | 2.6427 | −0.181% | $103K | $301K | 10x | as long as short |
| MEXC MORPHO_USDT | +0.0082% | 4h | 2.6420 | −0.208% | $5.2M | $1.1M | 100x | as long as short |
| Lighter MORPHOshort | +0.0096% | 1h | 2.6475 | −0.002% | $315K | $333K | 5x | |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6415 | −0.228% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6490 | +0.057% | $6.2M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6466 | −0.034% | $58K | $33K | 20x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6453 | −0.083% | $3.2M | $4.4M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6454 | −0.079% | $618K | $263K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6425 | −0.189% | $2.9M | $1.9M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6442 | −0.125% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6426 | −0.185% | $22K | $3K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6468 | −0.025% | $1K | — | 100x | as long as short |
Orderly PERP_MORPHO_USDC
Phoenix MORPHO
Variational Omni MORPHO
Reya MORPHORUSDPERP
Binance MORPHOUSDT
Extended MORPHO-USD
MEXC MORPHO_USDT
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]