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: Injective against Lighter−1.333%7-day average +0.829% · you buy dearer than you sell

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

Long on Lighter Short on Injective

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)+0.857%+$86 · spread now −1.333%, 7d avg +0.829%

Together, before fees+1.820%+ Points / potential airdropLighter: Season 3 · farm board+$182 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 2.162% cheaper against Lighter than usual: you would sell low and buy high (−$216 if the spread goes back to its 7-day average of +0.829%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.963%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MORPHO	2.6787	0.0096	pay 0.0012% / 1h	6m 29s	$321K	$325K	5x
Short	Injective MORPHO/USDC PERP	2.6430	0.0033	get 0.0004% / 1h	6m 29s	$37	$242K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

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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 LighterbpFee InjectivebpOrdersPrice spread, now −1.333%Rate

Funding earned: −$13.16
Price spread: −1.333% → +0.829%: −$216.23
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$229.41
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 58 min ago; Injective: 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, 58 min ago	21.76 bp	65.4 bp −$65	176.5 bp −$1,765	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

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	−0.468%	$81K	$125K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.0835%	1h	2.6702	−0.318%	$11K	$785	10x	as long as short
01 Exchange MORPHOUSD	−0.0408%	1h	2.6625	−0.605%	$875	$13K	5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0280%	1h	2.6743	−0.165%	$77K	$43K	25x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6687	−0.374%	$606K	$233K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0146%	4h	2.6641	−0.545%	$10K	$34K	10x	as long as short
Phoenix MORPHO	−0.0030%	1h	2.6710	−0.288%	$44K	$474K	5x	as long as short
Variational Omni MORPHO	−0.0029%	4h	2.6676	−0.416%	$636K	$926K	—	as long as short
Reya MORPHORUSDPERP	−0.0004%	1h	2.6644	−0.535%	$16	—	10x	as long as short
Polymarket Perps MORPHO-USD	+0.0008%	1h	2.6653	−0.501%	$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 PERPshort	+0.0033%	1h	2.6430	−1.333%	$37	$242K	5.5x
GRVT MORPHO_USDT_Perp	+0.0056%	4h	2.6686	−0.378%	$41K	$133K	10x	as long as short
Lighter MORPHOlong	+0.0096%	1h	2.6787	long leg	$321K	$325K	5x
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6658	−0.483%	$5K	$3	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6682	−0.393%	$58K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6632	−0.579%	$16.1M	$25.4M	75x	as long as short
Bybit MORPHOUSDT	+0.0100%	4h	2.6664	−0.460%	$8.6M	$9.0M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6646	−0.527%	$3.2M	$4.3M	20x	as long as short
Gate MORPHO_USDT	+0.0100%	4h	2.6667	−0.448%	$770K	$525K	50x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6638	−0.557%	$5.6M	$906K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6686	−0.377%	$601K	$262K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6675	−0.418%	$2.9M	$1.8M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6665	−0.456%	—	$1.4M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6704	−0.310%	$22K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6651	−0.507%	$102K	$362K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0187% / S −0.4126%	1h	2.6663	−0.464%	$1K	—	100x	as long as short
Hyperliquid MORPHO	+0.0353%	1h	2.6715	−0.269%	$6.3M	$6.9M	5x	as long as short