Funding you earn now, next payment 20:00 UTC+0.0307%/8hpaid last 24h +0.060%
Price spread now: Lighter against Orderly+0.167%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 +$9 a day on $10k at the current rate, and Lighter is 0.167% 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 | 2.6765 | −0.0211 | get 0.0106% / 4h | 5m 35s | $10K | $34K | 10x |
| Short | Lighter MORPHO | 2.6810 | 0.0096 | get 0.0012% / 1h | 5m 35s | $319K | $356K | 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
- $64.52
- Price spread: +0.167% → 0.000%
- $16.74
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $75.26
- Costs to cover
- 0.060%
- Break-even
- from the start
Slippage unknown: Orderly: no order-book sample; Lighter: live order book, 22 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, 22 min ago | 7.90 bp | 7.9 bp −$8 | 134.8 bp −$1,348 | 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 | −0.1669% | 1h | 2.6744 | −0.079% | $84K | $151K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0944% | 1h | 2.6773 | +0.030% | $10K | $721 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0592% | 1h | 2.6710 | −0.205% | $878 | $12K | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0328% | 1h | 2.6815 | +0.187% | $77K | $46K | 25x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0275% | 1h | 2.6746 | −0.071% | $28K | $2.0M | 5x | as long as short |
| Orderly PERP_MORPHO_USDClong | −0.0211% | 4h | 2.6765 | long leg | $10K | $34K | 10x | |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6745 | −0.075% | $657K | $209K | 20x | as long as short |
| Gate MORPHO_USDT | −0.0162% | 4h | 2.6760 | −0.019% | $771K | $533K | 50x | as long as short |
| Injective MORPHO/USDC PERP | −0.0114% | 1h | 2.6810 | +0.168% | $38 | $76K | 5.5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0088% | 4h | 2.6766 | +0.004% | $41K | $150K | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Coinbase International MORPHO-PERP-INTX
Polymarket Perps MORPHO-USD
BloFin MORPHO-USDT
Gate MORPHO_USDT
Injective MORPHO/USDC PERP
GRVT MORPHO_USDT_PerpShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6756 | −0.032% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | +0.0030% | 1h | 2.6803 | +0.142% | $34K | $473K | 5x | as long as short |
| Lighter MORPHOshort | +0.0096% | 1h | 2.6810 | +0.167% | $319K | $356K | 5x | |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6742 | −0.087% | $5K | $3 | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6765 | 0.000% | $58K | $32K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6734 | −0.116% | $16.4M | $26.7M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6778 | +0.049% | $8.8M | $10.2M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6772 | +0.026% | $3.2M | $4.6M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6738 | −0.101% | $5.1M | $1.2M | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6786 | +0.078% | $602K | $276K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6761 | −0.015% | $2.9M | $2.0M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6764 | −0.004% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6785 | +0.074% | $650K | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6776 | +0.041% | $22K | $2K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6740 | −0.093% | $101K | $303K | 10x | as long as short |
| Hyperliquid MORPHO | +0.0110% | 1h | 2.6816 | +0.191% | $6.4M | $7.1M | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0193% / S −16.5420% | 1h | 2.6790 | +0.094% | $1K | — | 100x | as long as short |
Reya MORPHORUSDPERP
Phoenix MORPHO
Paradex MORPHO-USD-PERP
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
Hyperliquid MORPHO
GMX MORPHO/USD [ETH-USDC]