MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0063%/8h= −6.9% APRnext payment −$0.08 per $10,000 · paid last 24h −0.048%

Price spread now: Injective against Lighter+1.609%66s7-day average +0.831% · you sell dearer than you buy

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

Long on Lighter Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.747%+$75 on $10k

Price spread, last 4 days (all we have)−2.085%−$208 · spread now +1.609%, 7d avg +0.831%

Together, before fees−1.338%+ Points / potential airdropLighter: Season 3 · farm board−$134 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.777% dearer against Lighter than usual: you sell high and buy low (spread +1.609% now, against its 7-day average of +0.831%): +$78 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 41 days. Mind the row above: over the last 7 days funding on this pair paid +0.747%, so the current rate has only just turned against you. The two prices were read 66 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MORPHO	2.6012	0.0096	pay 0.0012% / 1h	3m 50s	$313K	$294K	5x
Short	Injective MORPHO/USDC PERP	2.6430	0.0033	get 0.0004% / 1h	3m 50s	$37	$242K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpOrdersPrice spread, now +1.609%Rate

Funding earned: −$13.16
Price spread: +1.609% → +0.831%: $77.7
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $64.52
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Lighter: live order book, 30 min ago; Injective: 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, 30 min ago	12.75 bp	12.8 bp −$13	128.1 bp −$1,281	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	−0.1375%	1h	2.5953	−0.224%	$84K	$135K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1365%	1h	2.5957	−0.210%	$11K	$2K	10x	as long as short
01 Exchange MORPHOUSD	−0.1192%	1h	2.5877	−0.517%	$850	$9K	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0496%	4h	2.5990	−0.085%	$30K	$134K	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0432%	1h	2.5972	−0.152%	$72K	$38K	25x	as long as short
Bybit MORPHOUSDT	−0.0362%	4h	2.5990	−0.083%	$7.9M	$8.6M	25x	as long as short
Polymarket Perps MORPHO-USD	−0.0314%	1h	2.5974	−0.145%	$27K	$1.4M	5x	as long as short
BloFin MORPHO-USDT	−0.0183%	4h	2.5977	−0.133%	$638K	$241K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0158%	4h	2.5966	−0.175%	$10K	$34K	10x	as long as short
Variational Omni MORPHO	−0.0105%	4h	2.5980	−0.120%	$619K	$677K	—	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix MORPHO	−0.0092%	1h	2.6025	+0.052%	$33K	$339K	5x	as long as short
Reya MORPHORUSDPERP	−0.0005%	1h	2.5966	−0.176%	$16	—	10x	as long as short
Gate MORPHO_USDT	+0.0010%	4h	2.5977	−0.133%	$761K	$512K	50x	as long as short
Injective MORPHO/USDC PERPshort	+0.0033%	1h	2.6430	+1.609%	$37	$242K	5.5x
Binance MORPHOUSDT	+0.0053%	4h	2.5960	−0.198%	$15.7M	$24.4M	75x	as long as short
Extended MORPHO-USD	+0.0056%	1h	2.5953	−0.227%	$99K	$345K	10x	as long as short
MEXC MORPHO_USDT	+0.0056%	4h	2.5961	−0.195%	$6.3M	$904K	100x	as long as short
Lighter MORPHOlong	+0.0096%	1h	2.6012	long leg	$313K	$294K	5x
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.5943	−0.263%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6016	+0.016%	$5.9M	$7.0M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.5993	−0.070%	$58K	$33K	20x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.5987	−0.095%	$3.2M	$4.2M	20x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.5988	−0.091%	$589K	$260K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.5968	−0.168%	$2.8M	$1.6M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.5975	−0.141%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.5971	−0.156%	$21K	$4K	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0186% / S −15.6829%	1h	2.5991	−0.078%	$1K	—	100x	as long as short