Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h −0.028%
Price spread now: Lighter against Hyperliquid−0.028%7-day average +0.107% · you buy dearer than you sell
Net, funding: paid 7d − costs−$56as in the Funding arb table
Net, price: spread back to 7d avg − costs−$73as in the Price arb table
costs, in and out, $10k−$590.593% of the position
Funding, last 7 days+0.032%+$3 on $10k
+Price spread, last 4 days (all we have)+0.372%+$37 · spread now −0.028%, 7d avg +0.107%
=Together, before fees+0.404%+ Points / potential airdropHyperliquid: Season 2 · Lighter: Season 3 · farm board+$40 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 0.136% cheaper against Hyperliquid than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of +0.107%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid MORPHO | 2.6667 | 0.0100 | pay 0.0013% / 1h | 18m 45s | $6.3M | $7.2M | 5x |
| Short | Lighter MORPHO | 2.6659 | 0.0096 | get 0.0012% / 1h | 18m 45s | $318K | $336K | 5x |
Hyperliquid MORPHO
Lighter MORPHOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Hyperliquid. 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
- −$0.84
- Price spread: −0.028% → +0.107%
- −$13.59
- Slippage, 4 orders
- −$50.28
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$73.71
- Costs to cover
- 0.593%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 3 min ago; Lighter: live order book, 64 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 Hyperliquid live order book, 3 min ago | 0.19 bp | 16.9 bp −$17 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 64 min ago | 7.10 bp | 7.1 bp −$7 | 138.0 bp −$1,380 | 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 | −0.2051% | 1h | 2.6574 | −0.350% | $83K | $148K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1287% | 1h | 2.6626 | −0.154% | $11K | $911 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0840% | 1h | 2.6587 | −0.300% | $874 | $12K | 5x | as long as short |
| Injective MORPHO/USDC PERP | −0.0385% | 1h | 2.6610 | −0.214% | $37 | $198K | 5.5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0381% | 1h | 2.6620 | −0.176% | $26K | $1.8M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0350% | 4h | 2.6583 | −0.316% | $30K | $154K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0296% | 1h | 2.6617 | −0.187% | $77K | $46K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6620 | −0.176% | $645K | $223K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0170% | 4h | 2.6618 | −0.184% | $10K | $34K | 10x | as long as short |
| Gate MORPHO_USDT | −0.0070% | 4h | 2.6624 | −0.161% | $763K | $523K | 50x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Injective MORPHO/USDC PERP
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDC
Gate MORPHO_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit MORPHOUSDT | −0.0048% | 4h | 2.6626 | −0.154% | $8.7M | $10.1M | 25x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6655 | −0.045% | $34K | $493K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6636 | −0.116% | $16 | — | 10x | as long as short |
| Lighter MORPHOshort | +0.0096% | 1h | 2.6659 | −0.028% | $318K | $336K | 5x | |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6614 | −0.197% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHOlong | +0.0100% | 1h | 2.6667 | long leg | $6.3M | $7.2M | 5x | |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6633 | −0.128% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6608 | −0.221% | $16.3M | $26.8M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6626 | −0.154% | $3.2M | $4.5M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6607 | −0.225% | $5.5M | $1.2M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6626 | −0.154% | $624K | $271K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6619 | −0.180% | $2.9M | $2.0M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6638 | −0.109% | — | $1.5M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6639 | −0.107% | $647K | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6617 | −0.187% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6606 | −0.228% | $103K | $301K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6651 | −0.059% | $1K | — | 100x | as long as short |
Bybit MORPHOUSDT
Phoenix MORPHO
Reya MORPHORUSDPERP
Paradex MORPHO-USD-PERP
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]