Funding you earn now, next payment 02:00 UTC+0.0168%/8h= +18.4% APRpaid last 24h +0.057%
Price spread now: Lighter against GRVT+0.134%7-day average +0.288% · you sell dearer than you buy
Net, funding: paid 7d − costs−$146as in the Funding arb table
Net, price: spread back to 7d avg − costs−$207as in the Price arb table
costs, in and out, $10k−$1911.912% of the position
Funding, last 7 days+0.452%+$45 on $10k
+Price spread, last 4 days (all we have)−0.184%−$18 · spread now +0.134%, 7d avg +0.288%
=Together, before fees+0.268%+ Points / potential airdropGRVT: Active · Lighter: Season 3 · farm board+$27 on $10k · with fees, hour by hour
Funding pays, the price is against you. Lighter is 0.154% cheaper against GRVT than usual: you would sell low and buy high (spread +0.134% now, against its 7-day average of +0.288%). If the spread goes back, that is −$15 on $10k: about 3.1 days of funding at the current rate (+$5 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GRVT MORPHO_USDT_Perp | 2.6212 | −0.0072 | get 0.0036% / 4h | 2h 33m | $32K | $142K | 10x |
| Short | Lighter MORPHO | 2.6247 | 0.0096 | get 0.0012% / 1h | 33m 01s | $314K | $319K | 5x |
GRVT MORPHO_USDT_Perp
Lighter MORPHOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against GRVT. 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
- $35.28
- Price spread: +0.134% → +0.288%
- −$15.38
- Slippage, 4 orders
- −$182.19
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$171.28
- Costs to cover
- 1.912%
- Break-even
- 41.0 days
Slippage from GRVT: live order book, 34 min ago; Lighter: live order book, 26 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 GRVT live order book, 34 min ago | 1.69 bp | 29.5 bp −$30 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 26 min ago | 41.49 bp | 89.6 bp −$90 | 232.6 bp −$2,326 | doesn't fit | doesn't fit |
MORPHO on 26 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 | −0.1911% | 1h | 2.6217 | +0.022% | $80K | $128K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.0536% | 1h | 2.6229 | +0.067% | $862 | $11K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0474% | 1h | 2.6238 | +0.101% | $11K | $785 | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0232% | 1h | 2.6299 | +0.334% | $75K | $42K | 25x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0149% | 4h | 2.6228 | +0.063% | $10K | $34K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0148% | 1h | 2.6236 | +0.093% | $25K | $1.8M | 5x | as long as short |
| GRVT MORPHO_USDT_Perplong | −0.0072% | 4h | 2.6212 | long leg | $32K | $142K | 10x | |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6244 | +0.125% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | +0.0030% | 1h | 2.6271 | +0.227% | $43K | $426K | 5x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +0.833% | $37 | $242K | 5.5x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
Coinbase International MORPHO-PERP-INTX
Orderly PERP_MORPHO_USDC
Polymarket Perps MORPHO-USD
Reya MORPHORUSDPERP
Phoenix MORPHO
Injective MORPHO/USDC PERPShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | +0.0046% | 4h | 2.6260 | +0.185% | $767K | $504K | 50x | as long as short |
| Variational Omni MORPHO | +0.0070% | 4h | 2.6236 | +0.093% | $624K | $920K | — | as long as short |
| Lighter MORPHOshort | +0.0096% | 1h | 2.6247 | +0.134% | $314K | $319K | 5x | |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6258 | +0.176% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6271 | +0.227% | $6.2M | $7.0M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6244 | +0.125% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6232 | +0.078% | $15.8M | $25.3M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6246 | +0.131% | $8.3M | $9.3M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6258 | +0.177% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6230 | +0.070% | $5.5M | $885K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6250 | +0.147% | $596K | $255K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6249 | +0.143% | $2.9M | $1.7M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6245 | +0.128% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6230 | +0.070% | $22K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6229 | +0.066% | $101K | $360K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6250 | +0.147% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Variational Omni MORPHO
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
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]