Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.031%
Price spread now: Lighter against Bybit+0.049%7-day average +0.192% · you sell dearer than you buy
Net, funding: paid 7d − costs−$88as in the Funding arb table
Net, price: spread back to 7d avg − costs−$115as in the Price arb table
costs, in and out, $10k−$1011.008% of the position
Funding, last 7 days+0.131%+$13 on $10k
+Price spread, last 4 days (all we have)+0.413%+$41 · spread now +0.049%, 7d avg +0.192%
=Together, before fees+0.544%+ Points / potential airdropLighter: Season 3 · farm board+$54 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 0.143% cheaper against Bybit than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of +0.192%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit MORPHOUSDT | 2.6167 | 0.0100 | pay 0.0050% / 4h | 1h 36m | $8.3M | $9.4M | 25x |
| Short | Lighter MORPHO | 2.6180 | 0.0096 | get 0.0012% / 1h | 36m 50s | $314K | $308K | 5x |
Bybit MORPHOUSDT
Lighter MORPHOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Bybit. 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: +0.049% → +0.192%
- −$14.34
- Slippage, 4 orders
- −$89.81
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$115.98
- Costs to cover
- 1.008%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 1 min ago; Lighter: live order book, 17 min ago.
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 Bybit live order book, 1 min ago | 1.91 bp | 17.3 bp −$17 | 64.0 bp −$640 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 17 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 | −0.1676% | 1h | 2.6151 | −0.062% | $81K | $128K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0819% | 1h | 2.6158 | −0.034% | $11K | $955 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0568% | 1h | 2.6097 | −0.268% | $858 | $9K | 5x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6114 | −0.203% | $635K | $242K | 20x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0192% | 1h | 2.6327 | +0.611% | $75K | $42K | 25x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0156% | 4h | 2.6153 | −0.054% | $10K | $34K | 10x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0120% | 4h | 2.6122 | −0.172% | $32K | $142K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0111% | 1h | 2.6170 | +0.011% | $25K | $1.8M | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6166 | −0.005% | $16 | — | 10x | as long as short |
| Phoenix MORPHO | 0.0000% | 1h | 2.6187 | +0.076% | $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
GRVT MORPHO_USDT_Perp
Polymarket Perps MORPHO-USD
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 | +1.005% | $37 | $242K | 5.5x | as long as short |
| Gate MORPHO_USDT | +0.0056% | 4h | 2.6159 | −0.031% | $754K | $503K | 50x | as long as short |
| Lighter MORPHOshort | +0.0096% | 1h | 2.6180 | +0.049% | $314K | $308K | 5x | |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6123 | −0.168% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6212 | +0.172% | $6.1M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6157 | −0.039% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6150 | −0.064% | $15.8M | $25.7M | 75x | as long as short |
| Bybit MORPHOUSDTlong | +0.0100% | 4h | 2.6167 | long leg | $8.3M | $9.4M | 25x | |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6170 | +0.011% | $3.2M | $4.3M | 20x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.6149 | −0.069% | $5.8M | $840K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6173 | +0.023% | $595K | $252K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6154 | −0.050% | $2.8M | $1.8M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6163 | −0.015% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6155 | −0.046% | $624K | $907K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6135 | −0.122% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.6148 | −0.072% | $100K | $355K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6185 | +0.068% | $1K | — | 100x | as long as short |
Injective MORPHO/USDC PERP
Gate MORPHO_USDT
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
OKX MORPHO-USDT-SWAP
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]