Funding you earn now, next payment 08:00 UTC−0.0278%/8h= −30.4% APRpaid last 24h −0.069%
Price spread now: Gate against Lighter−0.137%7-day average −0.255% · you buy dearer than you sell
Net, funding: paid 7d − costs−$146as in the Funding arb table
Net, price: spread back to 7d avg − costs−$105as in the Price arb table
costs, in and out, $10k−$1171.166% of the position
Funding, last 7 days−0.296%−$30 on $10k
+Price spread, last 4 days (all we have)−0.345%−$35 · spread now −0.137%, 7d avg −0.255%
=Together, before fees−0.641%+ Points / potential airdropLighter: Season 3 · farm board−$64 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Gate is 0.118% dearer against Lighter than usual: you sell high and buy low (spread −0.137% now, against its 7-day average of −0.255%): +$12 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 34 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MORPHO | 2.5825 | 0.0096 | pay 0.0012% / 1h | 0m 30s | $311K | $288K | 5x |
| Short | Gate MORPHO_USDT | 2.5790 | −0.0182 | pay 0.0091% / 4h | 0m 30s | $759K | $507K | 50x |
Lighter MORPHO
Gate MORPHO_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate against Lighter. 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
- −$58.38
- Price spread: −0.137% → −0.255%
- $11.75
- Slippage, 4 orders
- −$101.56
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$163.19
- Costs to cover
- 1.166%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 20 min ago; Gate: live order book, 36 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 Lighter live order book, 20 min ago | 11.39 bp | 11.4 bp −$11 | 115.3 bp −$1,153 | doesn't fit | doesn't fit |
| Sell Gate live order book, 36 min ago | 4.84 bp | 47.4 bp −$47 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| 01 Exchange MORPHOUSD | −0.1424% | 1h | 2.5714 | −0.432% | $845 | $9K | 5x | as long as short |
| Kraken Futures PF_MORPHOUSD | −0.1239% | 1h | 2.5748 | −0.301% | $84K | $134K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1183% | 1h | 2.5776 | −0.192% | $11K | $3K | 10x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0684% | 4h | 2.5781 | −0.172% | $30K | $123K | 10x | as long as short |
| Bybit MORPHOUSDT | −0.0590% | 4h | 2.5790 | −0.137% | $7.8M | $8.4M | 25x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0496% | 1h | 2.5636 | −0.734% | $70K | $37K | 25x | as long as short |
| Variational Omni MORPHO | −0.0464% | 4h | 2.5782 | −0.170% | $615K | $526K | — | as long as short |
| BloFin MORPHO-USDT | −0.0408% | 4h | 2.5747 | −0.304% | $629K | $238K | 20x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0361% | 1h | 2.5830 | +0.017% | $25K | $1.4M | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0265% | 4h | 2.5765 | −0.234% | $10K | $34K | 10x | as long as short |
01 Exchange MORPHOUSD
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
GRVT MORPHO_USDT_Perp
Bybit MORPHOUSDT
Coinbase International MORPHO-PERP-INTX
Variational Omni MORPHO
BloFin MORPHO-USDT
Polymarket Perps MORPHO-USD
Orderly PERP_MORPHO_USDCShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix MORPHO | −0.0185% | 1h | 2.5805 | −0.079% | $33K | $336K | 5x | as long as short |
| Gate MORPHO_USDTshort | −0.0182% | 4h | 2.5790 | −0.137% | $759K | $507K | 50x | |
| Aster MORPHOUSDT | −0.0168% | 4h | 2.5787 | −0.150% | $54K | $48K | 20x | as long as short |
| Extended MORPHO-USD | −0.0168% | 1h | 2.5779 | −0.181% | $99K | $375K | 10x | as long as short |
| Binance MORPHOUSDT | −0.0168% | 4h | 2.5784 | −0.159% | $15.5M | $23.8M | 75x | as long as short |
| MEXC MORPHO_USDT | −0.0166% | 4h | 2.5790 | −0.137% | $6.2M | $910K | 100x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.5781 | −0.170% | $15 | — | 10x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +2.341% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHOlong | +0.0096% | 1h | 2.5825 | long leg | $311K | $288K | 5x | |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5778 | −0.184% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.5828 | +0.010% | $5.9M | $7.0M | 5x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.5796 | −0.114% | $3.2M | $4.1M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.5800 | −0.099% | $587K | $263K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5777 | −0.188% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5793 | −0.126% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.5768 | −0.223% | $21K | $5K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0156% / S −12.8912% | 1h | 2.5796 | −0.115% | $1K | — | 100x | as long as short |
Phoenix MORPHO
Aster MORPHOUSDT
Extended MORPHO-USD
Binance MORPHOUSDT
MEXC MORPHO_USDT
Reya MORPHORUSDPERP
Injective MORPHO/USDC PERP
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]