Funding you earn now, next payment 22:00 UTC+0.0266%/8h= +29.2% APRpaid last 24h +0.065%
Price spread now: Lighter against Orderly+0.170%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 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 for this trade now. Funding pays +$8 a day on $10k at the current rate, and Lighter is 0.170% dearer against Orderly than usual: you sell high and buy low: +$17 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_MORPHO_USDC | 2.6586 | −0.0170 | get 0.0085% / 4h | 2h 15m | $10K | $34K | 10x |
| Short | Lighter MORPHO | 2.6631 | 0.0096 | get 0.0012% / 1h | 15m 55s | $317K | $336K | 5x |
Orderly PERP_MORPHO_USDC
Lighter MORPHOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Orderly. 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
- $55.96
- Price spread: +0.170% → 0.000%
- $17.04
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $67
- Costs to cover
- 0.060%
- Break-even
- from the start
Slippage unknown: Orderly: no order-book sample; Lighter: live order book, 67 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Lighter live order book, 67 min ago | 7.10 bp | 7.1 bp −$7 | 138.0 bp −$1,380 | doesn't fit | doesn't fit |
Orderly: 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 | −0.2050% | 1h | 2.6589 | +0.010% | $83K | $148K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1440% | 1h | 2.6588 | +0.008% | $11K | $911 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0840% | 1h | 2.6537 | −0.184% | $872 | $12K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0392% | 1h | 2.6584 | −0.008% | $26K | $1.8M | 5x | as long as short |
| Injective MORPHO/USDC PERP | −0.0385% | 1h | 2.6610 | +0.090% | $37 | $198K | 5.5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0334% | 4h | 2.6613 | +0.101% | $30K | $154K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0296% | 1h | 2.6617 | +0.117% | $77K | $46K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6592 | +0.023% | $644K | $223K | 20x | as long as short |
| Orderly PERP_MORPHO_USDClong | −0.0170% | 4h | 2.6586 | long leg | $10K | $34K | 10x | |
| Bybit MORPHOUSDT | −0.0102% | 4h | 2.6591 | +0.019% | $8.6M | $9.9M | 25x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
Injective MORPHO/USDC PERP
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Bybit MORPHOUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | −0.0096% | 4h | 2.6596 | +0.038% | $770K | $527K | 50x | as long as short |
| Phoenix MORPHO | −0.0030% | 1h | 2.6655 | +0.260% | $34K | $493K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6595 | +0.035% | $16 | — | 10x | as long as short |
| Lighter MORPHOshort | +0.0096% | 1h | 2.6631 | +0.170% | $317K | $336K | 5x | |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6575 | −0.040% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6638 | +0.196% | $6.3M | $7.2M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6596 | +0.037% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6579 | −0.026% | $16.3M | $26.7M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6590 | +0.015% | $3.2M | $4.5M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6573 | −0.049% | $5.5M | $1.2M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6599 | +0.049% | $623K | $269K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6586 | 0.000% | $2.9M | $1.9M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6612 | +0.098% | — | $1.5M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6639 | +0.198% | $647K | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6591 | +0.019% | $22K | $3K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6575 | −0.040% | $103K | $301K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6615 | +0.111% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Phoenix MORPHO
Reya MORPHORUSDPERP
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]