Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.015%
Price spread now: Variational Omni against Lighter+0.010%7-day average −0.219% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.077%−$8 on $10k
+Price spread, last 4 days (all we have)−0.344%−$34 · spread now +0.010%, 7d avg −0.219%
=Together, before fees−0.421%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board−$42 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: Variational Omni is 0.229% dearer against Lighter than usual: you sell high and buy low, +$23 on $10k if it goes back to its 7-day average of −0.219%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MORPHO | 2.6163 | 0.0096 | pay 0.0012% / 1h | 54m 58s | $314K | $309K | 5x |
| Short | Variational Omni MORPHO | 2.6166 | 0.0100 | get 0.0050% / 4h | 54m 58s | $623K | $847K | — |
Lighter MORPHO
Variational Omni MORPHOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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: +0.010% → −0.219%
- $22.93
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- $23.77
- Costs to cover
- 0.000%
- Break-even
- from the start
Slippage unknown: Lighter: live order book, 59 min ago; Variational Omni: RFQ quote, 9 min ago. 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, 59 min ago | 30.89 bp | 30.9 bp −$31 | 158.3 bp −$1,583 | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 9 min ago | 6.55 bp | doesn't fit | 69.7 bp −$697 | 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 | −0.1659% | 1h | 2.6118 | −0.174% | $81K | $128K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0935% | 1h | 2.6138 | −0.096% | $11K | $759 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0816% | 1h | 2.6110 | −0.203% | $858 | $9K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0232% | 4h | 2.6112 | −0.195% | $32K | $142K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0224% | 1h | 2.6172 | +0.034% | $75K | $42K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6126 | −0.142% | $640K | $240K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0155% | 4h | 2.6127 | −0.138% | $10K | $34K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0112% | 1h | 2.6130 | −0.127% | $25K | $1.7M | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.6126 | −0.141% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | 0.0000% | 1h | 2.6074 | −0.341% | $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 | +0.0012% | 4h | 2.6156 | −0.027% | $757K | $478K | 50x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +1.020% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHOlong | +0.0096% | 1h | 2.6163 | long leg | $314K | $309K | 5x | |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6134 | −0.112% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6189 | +0.099% | $6.1M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6143 | −0.077% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6133 | −0.114% | $15.8M | $25.3M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6158 | −0.019% | $8.2M | $9.2M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6164 | +0.003% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6136 | −0.104% | $5.8M | $788K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6155 | −0.031% | $594K | $251K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6144 | −0.073% | $2.8M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6139 | −0.092% | — | $1.4M | — | as long as short |
| Variational Omni MORPHOshort | +0.0100% | 4h | 2.6166 | +0.010% | $623K | $847K | — | |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6135 | −0.107% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6135 | −0.108% | $100K | $350K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6159 | −0.016% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Injective MORPHO/USDC PERP
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]