MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+16.5324%/8h= +18103.0% APRnext payment +$206.65 per $10,000 · paid last 24h +2.134%

Price spread now: GMX against Lighter+0.126%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 GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

Both sides work for this trade now. Funding pays +$4,960 a day on $10k at the current rate, and GMX is 0.126% dearer against Lighter than usual: you sell high and buy low: +$13 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MORPHO	2.6727	0.0096	pay 0.0012% / 1h	57m 40s	$318K	$335K	5x
Short	GMX MORPHO/USD [ETH-USDC]	2.6761	L +0.0193% / S −16.5420%	get 2.0677% / 1h	57m 40s	$1K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.126%Rate

Funding earned: $34,718
Price spread: +0.126% → 0.000%: $12.56
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: $34,718.56
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Lighter: live order book, 25 min ago; GMX: 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, 25 min ago	7.10 bp	18.2 bp −$18	146.3 bp −$1,463	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.2043%	1h	2.6680	−0.176%	$84K	$152K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1358%	1h	2.6703	−0.090%	$10K	$623	10x	as long as short
01 Exchange MORPHOUSD	−0.1096%	1h	2.6676	−0.191%	$877	$12K	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0514%	4h	2.6774	+0.175%	$41K	$151K	10x	as long as short
Polymarket Perps MORPHO-USD	−0.0514%	1h	2.6743	+0.059%	$25K	$2.0M	5x	as long as short
Injective MORPHO/USDC PERP	−0.0385%	1h	2.7020	+1.096%	$38	$123K	5.5x	as long as short
Bybit MORPHOUSDT	−0.0335%	4h	2.6720	−0.027%	$8.8M	$10.2M	25x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0296%	1h	2.6813	+0.321%	$77K	$46K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6776	+0.183%	$654K	$206K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0200%	4h	2.6707	−0.075%	$10K	$34K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MORPHO_USDT	−0.0182%	4h	2.6742	+0.056%	$764K	$517K	50x	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6743	+0.061%	$16	—	10x	as long as short
Phoenix MORPHO	+0.0059%	1h	2.6824	+0.363%	$34K	$470K	5x	as long as short
Lighter MORPHOlong	+0.0096%	1h	2.6727	long leg	$318K	$335K	5x
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6650	−0.288%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6737	+0.037%	$6.4M	$7.1M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6748	+0.077%	$58K	$33K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6678	−0.183%	$16.4M	$26.8M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6705	−0.083%	$3.2M	$4.6M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6682	−0.169%	$5.4M	$1.1M	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6763	+0.134%	$603K	$270K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6742	+0.056%	$2.9M	$2.0M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6712	−0.056%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6815	+0.330%	$651K	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6701	−0.098%	$22K	$3K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6671	−0.211%	$104K	$301K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]short	L +0.0193% / S −16.5420%	1h	2.6761	+0.126%	$1K	—	100x