Funding you earn now, next payment 02:00 UTC−0.0092%/8h= −10.1% APRpaid last 24h −0.078%
Price spread now: Gate against Lighter−0.416%7-day average −0.264% · you buy dearer than you sell
Net, funding: paid 7d − costs−$245as in the Funding arb table
Net, price: spread back to 7d avg − costs−$231as in the Price arb table
costs, in and out, $10k−$2162.160% of the position
Funding, last 7 days−0.294%−$29 on $10k
+Price spread, last 4 days (all we have)−0.071%−$7 · spread now −0.416%, 7d avg −0.264%
=Together, before fees−0.365%+ Points / potential airdropLighter: Season 3 · farm board−$36 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Gate is 0.152% cheaper against Lighter than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.264%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MORPHO | 2.6466 | 0.0096 | pay 0.0012% / 1h | 50m 59s | $317K | $319K | 5x |
| Short | Gate MORPHO_USDT | 2.6356 | 0.0004 | get 0.0002% / 4h | 2h 50m | $759K | $494K | 50x |
Lighter MORPHO
Gate MORPHO_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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
- −$19.32
- Price spread: −0.416% → −0.264%
- −$15.19
- Slippage, 4 orders
- −$200.95
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$250.46
- Costs to cover
- 2.160%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 8 min ago; Gate: live order book, 16 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, 8 min ago | 41.49 bp | 52.7 bp −$53 | 158.6 bp −$1,586 | doesn't fit | doesn't fit |
| Sell Gate live order book, 16 min ago | 5.82 bp | 34.7 bp −$35 | doesn't fit | 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 | −0.1903% | 1h | 2.6325 | −0.535% | $80K | $126K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0736% | 1h | 2.6346 | −0.454% | $11K | $785 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0688% | 1h | 2.6342 | −0.469% | $866 | $10K | 5x | as long as short |
| BloFin MORPHO-USDT | −0.0234% | 4h | 2.6322 | −0.544% | $642K | $237K | 20x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0232% | 1h | 2.6456 | −0.038% | $76K | $43K | 25x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0149% | 4h | 2.6327 | −0.526% | $10K | $34K | 10x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0116% | 4h | 2.6313 | −0.577% | $40K | $133K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0111% | 1h | 2.6335 | −0.495% | $47K | $1.8M | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6326 | −0.529% | $16 | — | 10x | as long as short |
| Gate MORPHO_USDTshort | +0.0004% | 4h | 2.6356 | −0.416% | $759K | $494K | 50x |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
BloFin MORPHO-USDT
Coinbase International MORPHO-PERP-INTX
Orderly PERP_MORPHO_USDC
GRVT MORPHO_USDT_Perp
Polymarket Perps MORPHO-USD
Reya MORPHORUSDPERPShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix MORPHO | +0.0030% | 1h | 2.6277 | −0.714% | $43K | $426K | 5x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | −0.136% | $37 | $242K | 5.5x | as long as short |
| Variational Omni MORPHO | +0.0062% | 4h | 2.6331 | −0.511% | $627K | $925K | — | as long as short |
| Lighter MORPHOlong | +0.0096% | 1h | 2.6466 | long leg | $317K | $319K | 5x | |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6338 | −0.483% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6400 | −0.250% | $6.2M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6335 | −0.496% | $58K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6365 | −0.381% | $15.9M | $25.2M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6351 | −0.435% | $8.3M | $9.2M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6354 | −0.424% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6340 | −0.476% | $5.5M | $873K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6359 | −0.405% | $595K | $257K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6358 | −0.408% | $2.9M | $1.7M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6347 | −0.450% | — | $1.5M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6340 | −0.476% | $22K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6328 | −0.521% | $101K | $358K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −0.4126% | 1h | 2.6354 | −0.423% | $1K | — | 100x | as long as short |
Phoenix MORPHO
Injective MORPHO/USDC PERP
Variational Omni MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]