Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.015%
Price spread now: Lighter against Variational Omni−0.045%7-day average +0.219% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.077%+$8 on $10k
+Price spread, last 4 days (all we have)+0.379%+$38 · spread now −0.045%, 7d avg +0.219%
=Together, before fees+0.456%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board+$46 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.265% cheaper against Variational Omni than usual: you would sell low and buy high, −$26 on $10k if it goes back to its 7-day average of +0.219%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Variational Omni MORPHO | 2.6220 | 0.0100 | pay 0.0050% / 4h | 1h 35m | $625K | $907K | — |
| Short | Lighter MORPHO | 2.6208 | 0.0096 | get 0.0012% / 1h | 35m 20s | $314K | $308K | 5x |
Variational Omni MORPHO
Lighter MORPHOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Variational Omni. 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
- −$0.84
- Price spread: −0.045% → +0.219%
- −$26.47
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$27.31
- Costs to cover
- 0.000%
- Break-even
- never at this rate
Slippage unknown: Variational Omni: RFQ quote, 34 min ago; Lighter: live order book, 19 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 Variational Omni RFQ quote, 34 min ago | 4.63 bp | doesn't fit | 76.2 bp −$762 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 19 min ago | 30.89 bp | 32.3 bp −$32 | 179.2 bp −$1,792 | 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 | −0.1674% | 1h | 2.6190 | −0.114% | $81K | $128K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0969% | 1h | 2.6215 | −0.019% | $11K | $955 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0592% | 1h | 2.6161 | −0.225% | $860 | $9K | 5x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6114 | −0.404% | $635K | $242K | 20x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0192% | 1h | 2.6062 | −0.602% | $75K | $42K | 25x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0157% | 4h | 2.6207 | −0.049% | $10K | $34K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0124% | 1h | 2.6226 | +0.023% | $25K | $1.8M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0120% | 4h | 2.6151 | −0.264% | $32K | $142K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6223 | +0.011% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | 0.0000% | 1h | 2.6153 | −0.255% | $43K | $392K | 5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
BloFin MORPHO-USDT
Coinbase International MORPHO-PERP-INTX
Orderly PERP_MORPHO_USDC
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Reya MORPHORUSDPERP
Phoenix MORPHOShow 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 | +0.801% | $37 | $242K | 5.5x | as long as short |
| Gate MORPHO_USDT | +0.0052% | 4h | 2.6214 | −0.022% | $755K | $504K | 50x | as long as short |
| Lighter MORPHOshort | +0.0096% | 1h | 2.6208 | −0.045% | $314K | $308K | 5x | |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6208 | −0.044% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6277 | +0.218% | $6.2M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6190 | −0.113% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6210 | −0.038% | $15.8M | $25.7M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6229 | +0.035% | $8.3M | $9.4M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6241 | +0.081% | $3.2M | $4.4M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6204 | −0.061% | $5.8M | $840K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6225 | +0.019% | $597K | $252K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6222 | +0.008% | $2.8M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6226 | +0.023% | — | $1.4M | — | as long as short |
| Variational Omni MORPHOlong | +0.0100% | 4h | 2.6220 | long leg | $625K | $907K | — | |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6224 | +0.016% | $22K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6177 | −0.164% | $100K | $353K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6242 | +0.084% | $1K | — | 100x | as long as short |
Injective MORPHO/USDC PERP
Gate MORPHO_USDT
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]