MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0063%/8h= +6.9% APRnext payment +$0.08 per $10,000 · paid last 24h +0.045%

Price spread now: Lighter against Injective+1.397%7-day average −0.829% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.963%−$96 on $10k

Price spread, last 3 days (all we have)−0.921%−$92 · spread now +1.397%, 7d avg −0.829%

Together, before fees−1.884%+ Points / potential airdropLighter: Season 3 · farm board−$188 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter is 2.226% dearer against Injective than usual: you sell high and buy low: +$223 more if the spread goes back to its 7-day average of −0.829%. Mind the row above: over the last 7 days funding on this pair cost −0.963%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective MORPHO/USDC PERP	2.6430	0.0033	pay 0.0004% / 1h	6m 52s	$37	$242K	5.5x
Short	Lighter MORPHO	2.6799	0.0096	get 0.0012% / 1h	6m 52s	$321K	$325K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee InjectivebpFee LighterbpOrdersPrice spread, now +1.397%Rate

Funding earned: $13.16
Price spread: +1.397% → −0.829%: $222.65
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Lighter: 0 bp × 2 orders: $0
Net: $235.79
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Lighter: live order book, 58 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 Injective no order-book sample	—	—	—	—	—
Sell Lighter live order book, 58 min ago	21.76 bp	25.7 bp −$26	182.3 bp −$1,823	doesn't fit	doesn't fit

Injective: 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	−0.1823%	1h	2.6662	+0.877%	$81K	$125K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0835%	1h	2.6702	+1.029%	$11K	$785	10x	as long as short
01 Exchange MORPHOUSD	−0.0408%	1h	2.6682	+0.953%	$877	$13K	5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0280%	1h	2.6743	+1.184%	$77K	$43K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6687	+0.972%	$606K	$233K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0144%	4h	2.6688	+0.976%	$10K	$34K	10x	as long as short
Phoenix MORPHO	−0.0030%	1h	2.6710	+1.059%	$44K	$474K	5x	as long as short
Variational Omni MORPHO	−0.0029%	4h	2.6676	+0.929%	$636K	$926K	—	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6704	+1.036%	$16	—	10x	as long as short
Polymarket Perps MORPHO-USD	+0.0009%	1h	2.6708	+1.052%	$25K	$1.7M	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective MORPHO/USDC PERPlong	+0.0033%	1h	2.6430	long leg	$37	$242K	5.5x
GRVT MORPHO_USDT_Perp	+0.0056%	4h	2.6686	+0.968%	$41K	$133K	10x	as long as short
Lighter MORPHOshort	+0.0096%	1h	2.6799	+1.397%	$321K	$325K	5x
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6716	+1.082%	$5K	$3	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6711	+1.065%	$58K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6686	+0.967%	$16.2M	$25.4M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6706	+1.044%	$8.6M	$9.0M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6685	+0.965%	$3.2M	$4.3M	20x	as long as short
Gate MORPHO_USDT	+0.0100%	4h	2.6695	+1.003%	$770K	$525K	50x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6689	+0.980%	$5.6M	$906K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6709	+1.056%	$601K	$262K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6704	+1.037%	$3.0M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6698	+1.014%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6704	+1.037%	$22K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6679	+0.943%	$102K	$362K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0187% / S −0.4126%	1h	2.6713	+1.072%	$1K	—	100x	as long as short
Hyperliquid MORPHO	+0.0356%	1h	2.6765	+1.267%	$6.3M	$6.9M	5x	as long as short