Funding you earn now, next payment 22:00 UTC+0.0008%/8h= +0.9% APRnext payment +$0.01 per $10,000 · paid last 24h −0.001%
Price spread now: Extended against Lighter−0.218%7-day average −0.287% · you buy dearer than you sell
Net, funding: paid 7d − costs−$76as in the Funding arb table
Net, price: spread back to 7d avg − costs−$61as in the Price arb table
costs, in and out, $10k−$680.682% of the position
Funding, last 7 days−0.076%−$8 on $10k
+Price spread, last 4 days (all we have)−0.320%−$32 · spread now −0.218%, 7d avg −0.287%
=Together, before fees−0.396%+ Points / potential airdropLighter: Season 3 · Extended: Active · 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: Extended is 0.069% dearer against Lighter than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.287%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MORPHO | 2.6504 | 0.0096 | pay 0.0012% / 1h | 45m 02s | $316K | $335K | 5x |
| Short | Extended MORPHO-USD | 2.6446 | 0.0104 | get 0.0013% / 1h | 45m 02s | $103K | $301K | 10x |
Lighter MORPHO
Extended MORPHO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended 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
- $1.68
- Price spread: −0.218% → −0.287%
- $6.89
- Slippage, 4 orders
- −$63.2
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$59.63
- Costs to cover
- 0.682%
- Break-even
- 255.4 days
Slippage from Lighter: live order book, 38 min ago; Extended: live order book, 42 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, 38 min ago | 7.10 bp | 18.2 bp −$18 | 146.3 bp −$1,463 | doesn't fit | doesn't fit |
| Sell Extended live order book, 42 min ago | 2.23 bp | 21.3 bp −$21 | 222.9 bp −$2,229 | 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 | −0.2060% | 1h | 2.6460 | −0.166% | $82K | $148K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.1144% | 1h | 2.6440 | −0.241% | $869 | $12K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0882% | 1h | 2.6466 | −0.143% | $11K | $911 | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0621% | 1h | 2.6471 | −0.125% | $26K | $1.9M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0564% | 4h | 2.6519 | +0.056% | $29K | $162K | 10x | as long as short |
| Injective MORPHO/USDC PERP | −0.0385% | 1h | 2.6460 | −0.166% | $37 | $161K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0296% | 1h | 2.6527 | +0.087% | $76K | $46K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6472 | −0.121% | $650K | $221K | 20x | as long as short |
| Bybit MORPHOUSDT | −0.0196% | 4h | 2.6468 | −0.136% | $8.6M | $10.1M | 25x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0188% | 4h | 2.6454 | −0.189% | $10K | $34K | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Bybit MORPHOUSDT
Orderly PERP_MORPHO_USDCShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | −0.0168% | 4h | 2.6475 | −0.109% | $759K | $522K | 50x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6530 | +0.098% | $34K | $493K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6469 | −0.132% | $16 | — | 10x | as long as short |
| Lighter MORPHOlong | +0.0096% | 1h | 2.6504 | long leg | $316K | $335K | 5x | |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6480 | −0.090% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6494 | −0.038% | $6.2M | $7.2M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6494 | −0.039% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6449 | −0.209% | $16.2M | $26.9M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6472 | −0.121% | $3.2M | $4.5M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6440 | −0.241% | $5.3M | $1.2M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6488 | −0.060% | $621K | $272K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6463 | −0.155% | $2.9M | $2.0M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6472 | −0.121% | — | $1.5M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6515 | +0.042% | $643K | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6450 | −0.204% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USDshort | +0.0104% | 1h | 2.6446 | −0.218% | $103K | $301K | 10x | |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6478 | −0.099% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Phoenix MORPHO
Reya MORPHORUSDPERP
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]