MORPHO

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+15.6733%/8h= +17162.3% APRnext payment +$195.92 per $10,000 · paid last 24h +11.806%

Price spread now: GMX against Lighter+0.021%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 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 +$4,702 a day on $10k at the current rate, and GMX is 0.021% dearer against Lighter than usual: you sell high and buy low: +$2 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	Lighter MORPHO	2.6156	0.0096	pay 0.0012% / 1h	52m 03s	$314K	$293K	5x
Short	GMX MORPHO/USD [ETH-USDC]	2.6162	L +0.0186% / S −15.6829%	get 1.9604% / 1h	52m 03s	$1K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee LighterbpFee GMXbpOrdersPrice spread, now +0.021%Rate

Funding earned: $32,914.01
Price spread: +0.021% → 0.000%: $2.14
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: $32,904.15
Costs to cover: 0.120%
Break-even: 0.0 days

Slippage unknown: Lighter: live order book, 57 min ago; GMX: no order-book sample. 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 Lighter live order book, 57 min ago	13.29 bp	19.6 bp −$20	181.3 bp −$1,813	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.2165%	1h	2.6075	−0.309%	$81K	$126K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.1126%	1h	2.6121	−0.134%	$11K	$1K	10x	as long as short
01 Exchange MORPHOUSD	−0.0848%	1h	2.6125	−0.119%	$858	$9K	5x	as long as short
GRVT MORPHO_USDT_Perp	−0.0776%	4h	2.6027	−0.494%	$34K	$140K	10x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.0216%	1h	2.6167	+0.042%	$75K	$41K	25x	as long as short
Polymarket Perps MORPHO-USD	−0.0214%	1h	2.6147	−0.034%	$25K	$1.5M	5x	as long as short
BloFin MORPHO-USDT	−0.0200%	4h	2.6115	−0.157%	$636K	$242K	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.0138%	4h	2.6132	−0.092%	$10K	$34K	10x	as long as short
Phoenix MORPHO	−0.0061%	1h	2.6074	−0.314%	$43K	$337K	5x	as long as short
Bybit MORPHOUSDT	−0.0036%	4h	2.6129	−0.103%	$8.1M	$8.5M	25x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya MORPHORUSDPERP	−0.0005%	1h	2.6128	−0.105%	$16	—	10x	as long as short
Injective MORPHO/USDC PERP	+0.0033%	1h	2.6430	+1.048%	$37	$242K	5.5x	as long as short
Lighter MORPHOlong	+0.0096%	1h	2.6156	long leg	$314K	$293K	5x
Paradex MORPHO-USD-PERP	+0.0100%	8h	2.6143	−0.049%	$5K	$3	5x	as long as short
Hyperliquid MORPHO	+0.0100%	1h	2.6165	+0.034%	$6.1M	$6.8M	5x	as long as short
Aster MORPHOUSDT	+0.0100%	4h	2.6148	−0.032%	$58K	$30K	20x	as long as short
Binance MORPHOUSDT	+0.0100%	4h	2.6112	−0.168%	$15.8M	$24.3M	75x	as long as short
OKX MORPHO-USDT-SWAP	+0.0100%	4h	2.6127	−0.111%	$3.2M	$4.1M	20x	as long as short
Gate MORPHO_USDT	+0.0100%	4h	2.6126	−0.115%	$765K	$469K	50x	as long as short
MEXC MORPHO_USDT	+0.0100%	4h	2.6123	−0.126%	$5.9M	$820K	100x	as long as short
KuCoin MORPHOUSDTM	+0.0100%	4h	2.6143	−0.050%	$597K	$250K	50x	as long as short
Bitget MORPHOUSDT	+0.0100%	4h	2.6109	−0.180%	$2.8M	$1.7M	75x	as long as short
BingX MORPHO-USDT	+0.0100%	4h	2.6115	−0.157%	—	$1.4M	—	as long as short
Variational Omni MORPHO	+0.0100%	4h	2.6030	−0.480%	$621K	$675K	—	as long as short
SoDEX MORPHO-USD	+0.0100%	1h	2.6116	−0.153%	$21K	$4K	5x	as long as short
Extended MORPHO-USD	+0.0104%	1h	2.6123	−0.127%	$101K	$346K	10x	as long as short
GMX MORPHO/USD [ETH-USDC]short	L +0.0186% / S −15.6829%	1h	2.6162	+0.021%	$1K	—	100x