Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h 0.000%
Price spread now: Binance against Lighter−0.353%7-day average −0.268% · you buy dearer than you sell
Net, funding: paid 7d − costs−$65as in the Funding arb table
Net, price: spread back to 7d avg − costs−$65as in the Price arb table
costs, in and out, $10k−$570.567% of the position
Funding, last 7 days−0.083%−$8 on $10k
+Price spread, last 4 days (all we have)−0.150%−$15 · spread now −0.353%, 7d avg −0.268%
=Together, before fees−0.233%+ Points / potential airdropLighter: Season 3 · farm board−$23 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: Binance is 0.085% cheaper against Lighter than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.268%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MORPHO | 2.6586 | 0.0096 | pay 0.0012% / 1h | 40m 39s | $317K | $336K | 5x |
| Short | Binance MORPHOUSDT | 2.6492 | 0.0100 | get 0.0050% / 4h | 2h 40m | $16.2M | $26.9M | 75x |
Lighter MORPHO
Binance MORPHOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Lighter. 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: −0.353% → −0.268%
- −$8.48
- Slippage, 4 orders
- −$46.66
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$64.3
- Costs to cover
- 0.567%
- Break-even
- 542.8 days
Slippage from Lighter: live order book, 42 min ago; Binance: live order book, 1 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 Lighter live order book, 42 min ago | 7.10 bp | 18.2 bp −$18 | 146.3 bp −$1,463 | doesn't fit | doesn't fit |
| Sell Binance live order book, 1 min ago | 0.57 bp | 16.2 bp −$16 | 39.2 bp −$392 | 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 | −0.2058% | 1h | 2.6488 | −0.369% | $83K | $148K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1144% | 1h | 2.6506 | −0.300% | $11K | $911 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.1064% | 1h | 2.6474 | −0.421% | $870 | $12K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0568% | 1h | 2.6499 | −0.326% | $26K | $1.9M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0550% | 4h | 2.6452 | −0.504% | $29K | $162K | 10x | as long as short |
| Injective MORPHO/USDC PERP | −0.0385% | 1h | 2.6460 | −0.473% | $37 | $161K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0296% | 1h | 2.6527 | −0.221% | $76K | $46K | 25x | as long as short |
| Bybit MORPHOUSDT | −0.0236% | 4h | 2.6510 | −0.285% | $8.6M | $10.1M | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6503 | −0.311% | $652K | $221K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0183% | 4h | 2.6505 | −0.304% | $10K | $34K | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
Bybit MORPHOUSDT
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDCShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | −0.0148% | 4h | 2.6509 | −0.289% | $760K | $523K | 50x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6479 | −0.402% | $34K | $493K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6506 | −0.298% | $16 | — | 10x | as long as short |
| Lighter MORPHOlong | +0.0096% | 1h | 2.6586 | long leg | $317K | $336K | 5x | |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6494 | −0.345% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6548 | −0.142% | $6.2M | $7.2M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6535 | −0.192% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDTshort | +0.0100% | 4h | 2.6492 | −0.353% | $16.2M | $26.9M | 75x | |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6519 | −0.251% | $3.2M | $4.5M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6490 | −0.360% | $5.3M | $1.2M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6536 | −0.187% | $622K | $271K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6524 | −0.232% | $2.9M | $2.0M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6506 | −0.300% | — | $1.5M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6515 | −0.266% | $643K | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6500 | −0.323% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6491 | −0.356% | $103K | $301K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6526 | −0.223% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Phoenix MORPHO
Reya MORPHORUSDPERP
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster 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]