MORPHO

Alert

Funding spread now, next payment 16:00 UTC−0.0100%/8h

next payment, per $10,000−$0.13paid, last 24h−0.031%paid, last 3 days−0.280%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MORPHO	2.7389	0.0096	pay 0.0012% / 1h	20m 03s	$321K	$503K	5x
Short	Reya MORPHORUSDPERP	2.7338	−0.0004	pay 0.0001% / 1h	20m 03s	$16	—	10x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee LighterbpFee ReyabpOrdersRate

Funding earned: −$21.06
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Reya: 3 bp × 2 orders: −$6
Net: −$27.06
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 22 min ago; Reya: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: −0.188%
Avg gap 7d: —

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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, 22 min ago	2.73 bp	3.7 bp −$4	108.3 bp −$1,083	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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 26 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Deribit MORPHO_USDC-PERPETUAL	−0.1320%	1h	$11K	$443	10x	as long as short
01 Exchange MORPHOUSD	−0.1128%	1h	$896	$8K	5x	as long as short
Polymarket Perps MORPHO-USD	−0.0372%	1h	$31K	$3.0M	5x	as long as short
Gate MORPHO_USDT	−0.0318%	4h	$771K	$598K	50x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	$687K	$249K	20x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0144%	1h	$80K	$53K	25x	as long as short
Bybit MORPHOUSDT	−0.0131%	4h	$9.1M	$11.3M	25x	as long as short
Orderly PERP_MORPHO_USDC	−0.0108%	4h	$11K	$34K	10x	as long as short
Kraken Futures PF_MORPHOUSD	−0.0093%	1h	$99K	$188K	20x	as long as short
Phoenix MORPHO	−0.0029%	1h	$35K	$560K	5x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Reya MORPHORUSDPERPshort	−0.0004%	1h	$16	—	10x
Injective MORPHO/USDC PERP	+0.0033%	1h	$38	$85K	5.5x	as long as short
Variational Omni MORPHO	+0.0073%	4h	$669K	$1.4M	—	as long as short
Lighter MORPHOlong	+0.0096%	1h	$321K	$503K	5x
Paradex MORPHO-USD-PERP	+0.0099%	8h	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	$6.7M	$8.1M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	$60K	$34K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	$16.9M	$31.0M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	$3.2M	$5.8M	20x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	$4.9M	$1.3M	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	$663K	$378K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	$3.0M	$2.6M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	—	$1.5M	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	$23K	$2K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	$103K	$310K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	L +0.0197% / S −0.0897%	1h	$2K	—	100x	as long as short