MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0288%/8h= −31.5% APRnext payment −$0.36 per $10,000 · paid last 24h +0.022%

Price spread now: Coinbase International against Lighter+0.057%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.103%+$10 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Coinbase International is 0.057% dearer against Lighter than usual: you sell high and buy low (spread +0.057% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 16 hours. Mind the row above: over the last 7 days funding on this pair paid +0.103%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.103% in total (about 5.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.36 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MORPHO	2.6330	0.0096	pay 0.0012% / 1h	18m 15s	$315K	$308K	5x
Short	Coinbase International MORPHO-PERP-INTX	2.6345	−0.0192	pay 0.0024% / 1h	18m 15s	$75K	$42K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Lighter. 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 LighterbpFee Coinbase InternationalbpOrdersPrice spread, now +0.057%Rate

Funding earned: −$60.48
Price spread: +0.057% → 0.000%: $5.7
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$64.78
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 36 min ago; Coinbase International: no order-book sample. 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 Lighter live order book, 36 min ago	30.89 bp	30.9 bp −$31	158.3 bp −$1,583	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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	−0.1667%	1h	2.6290	−0.153%	$82K	$127K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1081%	1h	2.6264	−0.251%	$11K	$759	10x	as long as short
01 Exchange MORPHOUSD	−0.0656%	1h	2.6234	−0.365%	$862	$9K	5x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6264	−0.251%	$637K	$243K	20x	as long as short
Coinbase International MORPHO-PERP-INTXshort	−0.0192%	1h	2.6345	+0.057%	$75K	$42K	25x
Orderly PERP_MORPHO_USDC	−0.0157%	4h	2.6257	−0.277%	$10K	$34K	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0152%	1h	2.6276	−0.205%	$25K	$1.7M	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0130%	4h	2.6293	−0.142%	$32K	$142K	10x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.6276	−0.206%	$16	—	10x	as long as short
Phoenix MORPHO	0.0000%	1h	2.6313	−0.065%	$43K	$392K	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+0.380%	$37	$242K	5.5x	as long as short
Gate MORPHO_USDT	+0.0040%	4h	2.6296	−0.129%	$757K	$504K	50x	as long as short
Lighter MORPHOlong	+0.0096%	1h	2.6330	long leg	$315K	$308K	5x
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6253	−0.292%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6378	+0.184%	$6.2M	$6.9M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6278	−0.198%	$58K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6324	−0.023%	$15.9M	$25.4M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6335	+0.019%	$8.3M	$9.2M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6349	+0.072%	$3.2M	$4.3M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6319	−0.042%	$5.8M	$841K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6350	+0.076%	$599K	$251K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6331	+0.004%	$2.8M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6330	0.000%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6345	+0.057%	$628K	$848K	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6265	−0.247%	$22K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6251	−0.301%	$101K	$353K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0186% / S −15.6829%	1h	2.6286	−0.167%	$1K	—	100x	as long as short