Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h +0.031%
Price spread now: Hyperliquid against Lighter+0.019%7-day average −0.099% · you sell dearer than you buy
Net, funding: paid 7d − costs−$95as in the Funding arb table
Net, price: spread back to 7d avg − costs−$80as in the Price arb table
costs, in and out, $10k−$920.919% of the position
Funding, last 7 days−0.030%−$3 on $10k
+Price spread, last 4 days (all we have)−0.397%−$40 · spread now +0.019%, 7d avg −0.099%
=Together, before fees−0.427%+ Points / potential airdropLighter: Season 3 · Hyperliquid: Season 2 · farm board−$43 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: Hyperliquid is 0.119% dearer against Lighter than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.099%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MORPHO | 2.6057 | 0.0096 | pay 0.0012% / 1h | 57m 47s | $313K | $309K | 5x |
| Short | Hyperliquid MORPHO | 2.6062 | 0.0100 | get 0.0013% / 1h | 57m 47s | $6.1M | $6.9M | 5x |
Lighter MORPHO
Hyperliquid MORPHOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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: +0.019% → −0.099%
- $11.85
- Slippage, 4 orders
- −$82.93
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$79.24
- Costs to cover
- 0.919%
- Break-even
- 667.3 days
Slippage from Lighter: live order book, 56 min ago; Hyperliquid: live order book, 4 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, 56 min ago | 30.89 bp | 30.9 bp −$31 | 158.3 bp −$1,583 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 4 min ago | 1.15 bp | 13.9 bp −$14 | 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 | −0.1665% | 1h | 2.6024 | −0.126% | $81K | $127K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1130% | 1h | 2.6058 | +0.004% | $11K | $759 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0960% | 1h | 2.6025 | −0.123% | $855 | $9K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0228% | 4h | 2.6068 | +0.044% | $32K | $142K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0224% | 1h | 2.6084 | +0.104% | $75K | $42K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6070 | +0.050% | $640K | $241K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0157% | 4h | 2.6050 | −0.027% | $10K | $34K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0071% | 1h | 2.6085 | +0.107% | $25K | $1.7M | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.6073 | +0.062% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | 0.0000% | 1h | 2.6083 | +0.100% | $43K | $370K | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDC
Polymarket Perps MORPHO-USD
Reya MORPHORUSDPERP
Phoenix MORPHOShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | +0.0008% | 4h | 2.6078 | +0.081% | $755K | $477K | 50x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +1.431% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHOlong | +0.0096% | 1h | 2.6057 | long leg | $313K | $309K | 5x | |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6022 | −0.132% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHOshort | +0.0100% | 1h | 2.6062 | +0.019% | $6.1M | $6.9M | 5x | |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6091 | +0.131% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6016 | −0.157% | $15.7M | $25.3M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6030 | −0.104% | $8.2M | $9.2M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6051 | −0.023% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6003 | −0.207% | $5.8M | $787K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6079 | +0.084% | $592K | $251K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5999 | −0.223% | $2.8M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6004 | −0.203% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6085 | +0.106% | $622K | $847K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6059 | +0.008% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6010 | −0.182% | $100K | $350K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6079 | +0.085% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Injective MORPHO/USDC PERP
Paradex MORPHO-USD-PERP
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit 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]