Funding you earn now, next payment 06:00 UTC+0.0092%/8h= +10.1% APRnext payment +$0.12 per $10,000 · paid last 24h +0.089%
Price spread now: Lighter against Polymarket Perps+0.158%7-day average +0.215% · you sell dearer than you buy
Net, funding: paid 7d − costs−$11as in the Funding arb table
Net, price: spread back to 7d avg − costs−$49as in the Price arb table
costs, in and out, $10k−$430.433% of the position
Funding, last 7 days+0.325%+$32 on $10k
+Price spread, last 4 days (all we have)+0.371%+$37 · spread now +0.158%, 7d avg +0.215%
=Together, before fees+0.696%+ Points / potential airdropLighter: Season 3 · farm board+$70 on $10k · with fees, hour by hour
Funding pays, the price is against you. Lighter is 0.057% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread +0.158% now, against its 7-day average of +0.215%). If the spread goes back, that is −$6 on $10k: about 2.0 days of funding at the current rate (+$3 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Polymarket Perps MORPHO-USD | 2.5829 | 0.0004 | pay 0.0000% / 1h | 39m 08s | $25K | $1.5M | 5x |
| Short | Lighter MORPHO | 2.5870 | 0.0096 | get 0.0012% / 1h | 39m 08s | $311K | $295K | 5x |
Polymarket Perps MORPHO-USD
Lighter MORPHOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Polymarket Perps. 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
- $19.35
- Price spread: +0.158% → +0.215%
- −$5.65
- Slippage, 4 orders
- −$35.25
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$29.55
- Costs to cover
- 0.433%
- Break-even
- 17.7 days
Slippage from Polymarket Perps: live order book, 4 min ago; Lighter: live order book, just now.
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 Polymarket Perps live order book, 4 min ago | 1.54 bp | 8.6 bp −$9 | 8.8 bp −$88 | doesn't fit | doesn't fit |
| Sell Lighter live order book, just now | 7.64 bp | 10.9 bp −$11 | 141.7 bp −$1,417 | 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 | −0.1565% | 1h | 2.5794 | −0.137% | $81K | $129K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1180% | 1h | 2.5830 | +0.004% | $11K | $2K | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0912% | 1h | 2.5761 | −0.263% | $847 | $9K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0414% | 4h | 2.5825 | −0.017% | $32K | $134K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0216% | 1h | 2.5841 | +0.046% | $73K | $39K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0167% | 4h | 2.5789 | −0.155% | $635K | $243K | 20x | as long as short |
| Phoenix MORPHO | −0.0154% | 1h | 2.5870 | +0.159% | $33K | $330K | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0132% | 4h | 2.5831 | +0.008% | $10K | $34K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.5825 | −0.016% | $15 | — | 10x | as long as short |
| Polymarket Perps MORPHO-USDlong | +0.0004% | 1h | 2.5829 | long leg | $25K | $1.5M | 5x |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Phoenix MORPHO
Orderly PERP_MORPHO_USDC
Reya MORPHORUSDPERPShow 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 | +2.327% | $37 | $242K | 5.5x | as long as short |
| Extended MORPHO-USD | +0.0080% | 1h | 2.5826 | −0.011% | $104K | $348K | 10x | as long as short |
| Binance MORPHOUSDT | +0.0084% | 4h | 2.5818 | −0.043% | $15.6M | $24.0M | 75x | as long as short |
| MEXC MORPHO_USDT | +0.0084% | 4h | 2.5826 | −0.012% | $5.9M | $874K | 100x | as long as short |
| Lighter MORPHOshort | +0.0096% | 1h | 2.5870 | +0.158% | $311K | $295K | 5x | |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5800 | −0.114% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.5866 | +0.143% | $5.9M | $6.7M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.5828 | −0.003% | $57K | $31K | 20x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.5840 | +0.043% | $8.0M | $8.5M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.5850 | +0.081% | $3.2M | $4.0M | 20x | as long as short |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.5822 | −0.027% | $767K | $483K | 50x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.5834 | +0.019% | $593K | $246K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5828 | −0.004% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5835 | +0.023% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.5841 | +0.046% | $615K | $677K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.5832 | +0.012% | $21K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0162% / S +0.0035% | 1h | 2.5856 | +0.106% | $6K | — | 100x | as long as short |
Injective MORPHO/USDC PERP
Extended MORPHO-USD
Binance MORPHOUSDT
MEXC MORPHO_USDT
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
Gate MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]