Funding you earn now, next payment 22:00 UTC−0.1360%/8h= −148.9% APRnext payment −$1.70 per $10,000 · paid last 24h −0.178%
Price spread now: 01 Exchange against Lighter−0.634%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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 against this trade now: funding costs −$41 a day on $10k at the current rate, and 01 Exchange is 0.634% cheaper against Lighter than usual: you would sell low and buy high (−$63 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MORPHO | 2.6715 | 0.0096 | pay 0.0012% / 1h | 56m 27s | $318K | $335K | 5x |
| Short | 01 Exchange MORPHOUSD | 2.6546 | −0.1264 | pay 0.0158% / 1h | 56m 27s | $872 | $12K | 5x |
Lighter MORPHO
01 Exchange MORPHOUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
01 Exchange 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
- −$285.6
- Price spread: −0.634% → 0.000%
- −$63.45
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee 01 Exchange: 3.5 bp × 2 orders
- −$7
- Net
- −$356.05
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Lighter: live order book, 27 min ago; 01 Exchange: 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, 27 min ago | 7.10 bp | 18.2 bp −$18 | 146.3 bp −$1,463 | doesn't fit | doesn't fit |
| Sell 01 Exchange no order-book sample | — | — | — | — | — |
01 Exchange: 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 | −0.2045% | 1h | 2.6661 | −0.206% | $84K | $152K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1434% | 1h | 2.6683 | −0.122% | $10K | $623 | 10x | as long as short |
| 01 Exchange MORPHOUSDshort | −0.1264% | 1h | 2.6546 | −0.634% | $872 | $12K | 5x | |
| Polymarket Perps MORPHO-USD | −0.0703% | 1h | 2.6631 | −0.316% | $25K | $2.0M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0532% | 4h | 2.6764 | +0.181% | $41K | $151K | 10x | as long as short |
| Bybit MORPHOUSDT | −0.0415% | 4h | 2.6650 | −0.245% | $8.8M | $10.2M | 25x | as long as short |
| Injective MORPHO/USDC PERP | −0.0385% | 1h | 2.7020 | +1.140% | $38 | $123K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0296% | 1h | 2.6813 | +0.365% | $77K | $46K | 25x | as long as short |
| Gate MORPHO_USDT | −0.0264% | 4h | 2.6691 | −0.092% | $762K | $517K | 50x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6671 | −0.167% | $654K | $205K | 20x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Bybit MORPHOUSDT
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
Gate MORPHO_USDT
BloFin MORPHO-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_MORPHO_USDC | −0.0200% | 4h | 2.6683 | −0.122% | $10K | $34K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6640 | −0.284% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | +0.0059% | 1h | 2.6824 | +0.406% | $34K | $470K | 5x | as long as short |
| Lighter MORPHOlong | +0.0096% | 1h | 2.6715 | long leg | $318K | $335K | 5x | |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6623 | −0.347% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6677 | −0.144% | $6.3M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6745 | +0.110% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6617 | −0.369% | $16.3M | $26.8M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6652 | −0.238% | $3.2M | $4.5M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6620 | −0.357% | $5.4M | $1.1M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6666 | −0.185% | $601K | $270K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6629 | −0.324% | $2.9M | $2.0M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6650 | −0.245% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6815 | +0.374% | $651K | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6678 | −0.140% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6650 | −0.247% | $104K | $301K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0193% / S −16.5420% | 1h | 2.6719 | +0.013% | $1K | — | 100x | as long as short |
Orderly PERP_MORPHO_USDC
Reya MORPHORUSDPERP
Phoenix MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance 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]