Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h 0.000%
Price spread now: Lighter against OKX−0.008%7-day average +0.226% · you buy dearer than you sell
Net, funding: paid 7d − costs−$97as in the Funding arb table
Net, price: spread back to 7d avg − costs−$127as in the Price arb table
costs, in and out, $10k−$1041.039% of the position
Funding, last 7 days+0.073%+$7 on $10k
+Price spread, last 4 days (all we have)+0.519%+$52 · spread now −0.008%, 7d avg +0.226%
=Together, before fees+0.591%+ Points / potential airdropLighter: Season 3 · farm board+$59 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: Lighter is 0.233% cheaper against OKX than usual: you would sell low and buy high, −$23 on $10k if it goes back to its 7-day average of +0.226%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX MORPHO-USDT-SWAP | 2.6339 | 0.0100 | pay 0.0050% / 4h | 1h 17m | $3.2M | $4.3M | 20x |
| Short | Lighter MORPHO | 2.6337 | 0.0096 | get 0.0012% / 1h | 17m 06s | $316K | $308K | 5x |
OKX MORPHO-USDT-SWAP
Lighter MORPHOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against OKX. 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: −0.008% → +0.226%
- −$23.32
- Slippage, 4 orders
- −$93.85
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$128.01
- Costs to cover
- 1.039%
- Break-even
- never at this rate
Slippage from OKX: live order book, just now; Lighter: live order book, 37 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 OKX live order book, just now | 1.33 bp | 21.3 bp −$21 | 110.9 bp −$1,109 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 37 min ago | 30.89 bp | 32.3 bp −$32 | 179.2 bp −$1,792 | 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 | −0.1668% | 1h | 2.6288 | −0.195% | $82K | $127K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1003% | 1h | 2.6310 | −0.110% | $11K | $759 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0664% | 1h | 2.6285 | −0.205% | $864 | $9K | 5x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6299 | −0.152% | $602K | $243K | 20x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0192% | 1h | 2.6345 | +0.023% | $75K | $42K | 25x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0157% | 4h | 2.6307 | −0.121% | $10K | $34K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0147% | 1h | 2.6330 | −0.034% | $25K | $1.7M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0138% | 4h | 2.6271 | −0.259% | $32K | $142K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.6327 | −0.047% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | 0.0000% | 1h | 2.6313 | −0.099% | $43K | $392K | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
BloFin MORPHO-USDT
Coinbase International MORPHO-PERP-INTX
Orderly PERP_MORPHO_USDC
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Reya MORPHORUSDPERP
Phoenix MORPHOShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +0.345% | $37 | $242K | 5.5x | as long as short |
| Gate MORPHO_USDT | +0.0038% | 4h | 2.6321 | −0.068% | $758K | $504K | 50x | as long as short |
| Lighter MORPHOshort | +0.0096% | 1h | 2.6337 | −0.008% | $316K | $308K | 5x | |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6315 | −0.091% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6368 | +0.110% | $6.2M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6325 | −0.055% | $58K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6303 | −0.138% | $15.9M | $25.4M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6337 | −0.008% | $8.3M | $9.2M | 25x | as long as short |
| OKX MORPHO-USDT-SWAPlong | +0.0100% | 4h | 2.6339 | long leg | $3.2M | $4.3M | 20x | |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6309 | −0.114% | $5.8M | $842K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6346 | +0.027% | $598K | $251K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6321 | −0.068% | $2.8M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6327 | −0.046% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6345 | +0.023% | $628K | $848K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6310 | −0.110% | $22K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6308 | −0.120% | $101K | $350K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6342 | +0.011% | $1K | — | 100x | as long as short |
Injective MORPHO/USDC PERP
Gate MORPHO_USDT
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]