MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0063%/8h= +6.9% APRnext payment +$0.08 per $10,000 · paid last 24h +0.048%

Price spread now: Lighter against Injective−1.583%66s7-day average −0.831% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.747%−$75 on $10k

Price spread, last 4 days (all we have)+2.059%+$206 · spread now −1.583%, 7d avg −0.831%

Together, before fees+1.312%+ Points / potential airdropLighter: Season 3 · farm board+$131 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.752% cheaper against Injective than usual: you would sell low and buy high (spread −1.583% now, against its 7-day average of −0.831%). If the spread goes back, that is −$75 on $10k: about 40 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.747%, so the current rate has only just turned in your favour. The two prices were read 66 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective MORPHO/USDC PERP	2.6430	0.0033	pay 0.0004% / 1h	3m 55s	$37	$242K	5.5x
Short	Lighter MORPHO	2.6012	0.0096	get 0.0012% / 1h	3m 55s	$313K	$294K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee InjectivebpFee LighterbpOrdersPrice spread, now −1.583%Rate

Funding earned: $13.16
Price spread: −1.583% → −0.831%: −$75.16
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Lighter: 0 bp × 2 orders: $0
Net: −$62.02
Costs to cover: 0.000%
Break-even: 40.0 days

Slippage unknown: Injective: no order-book sample; Lighter: live order book, 30 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 Injective no order-book sample	—	—	—	—	—
Sell Lighter live order book, 30 min ago	12.75 bp	17.0 bp −$17	155.5 bp −$1,555	doesn't fit	doesn't fit

Injective: 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	−0.1375%	1h	2.5953	−1.804%	$84K	$135K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1365%	1h	2.5957	−1.790%	$11K	$2K	10x	as long as short
01 Exchange MORPHOUSD	−0.1192%	1h	2.5877	−2.092%	$850	$9K	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0496%	4h	2.5990	−1.666%	$30K	$134K	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0432%	1h	2.5972	−1.733%	$72K	$38K	25x	as long as short
Bybit MORPHOUSDT	−0.0362%	4h	2.5990	−1.665%	$7.9M	$8.6M	25x	as long as short
Polymarket Perps MORPHO-USD	−0.0314%	1h	2.5974	−1.725%	$27K	$1.4M	5x	as long as short
BloFin MORPHO-USDT	−0.0183%	4h	2.5977	−1.714%	$638K	$241K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0158%	4h	2.5966	−1.756%	$10K	$34K	10x	as long as short
Variational Omni MORPHO	−0.0105%	4h	2.5980	−1.701%	$619K	$677K	—	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix MORPHO	−0.0092%	1h	2.6025	−1.532%	$33K	$339K	5x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.5966	−1.757%	$16	—	10x	as long as short
Gate MORPHO_USDT	+0.0010%	4h	2.5977	−1.714%	$761K	$512K	50x	as long as short
Injective MORPHO/USDC PERPlong	+0.0033%	1h	2.6430	long leg	$37	$242K	5.5x
Binance MORPHOUSDT	+0.0053%	4h	2.5960	−1.778%	$15.7M	$24.4M	75x	as long as short
Extended MORPHO-USD	+0.0056%	1h	2.5953	−1.806%	$99K	$345K	10x	as long as short
MEXC MORPHO_USDT	+0.0056%	4h	2.5961	−1.774%	$6.3M	$904K	100x	as long as short
Lighter MORPHOshort	+0.0096%	1h	2.6012	−1.583%	$313K	$294K	5x
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.5943	−1.841%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6016	−1.567%	$5.9M	$7.0M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.5993	−1.652%	$58K	$33K	20x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.5987	−1.676%	$3.2M	$4.2M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.5988	−1.672%	$589K	$260K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.5968	−1.748%	$2.8M	$1.6M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.5975	−1.722%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.5971	−1.737%	$21K	$4K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0186% / S −15.6829%	1h	2.5991	−1.660%	$1K	—	100x	as long as short