Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.002%
Price spread now: MEXC against Lighter−0.229%7-day average −0.259% · you buy dearer than you sell
Net, funding: paid 7d − costs−$50as in the Funding arb table
Net, price: spread back to 7d avg − costs−$39as in the Price arb table
costs, in and out, $10k−$420.423% of the position
Funding, last 7 days−0.080%−$8 on $10k
+Price spread, last 4 days (all we have)−0.281%−$28 · spread now −0.229%, 7d avg −0.259%
=Together, before fees−0.361%+ Points / potential airdropLighter: Season 3 · farm board−$36 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: MEXC is 0.030% dearer against Lighter than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.259%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MORPHO | 2.6060 | 0.0096 | pay 0.0012% / 1h | 58m 04s | $313K | $294K | 5x |
| Short | MEXC MORPHO_USDT | 2.6000 | 0.0100 | get 0.0050% / 4h | 1h 58m | $6.2M | $895K | 100x |
Lighter MORPHO
MEXC MORPHO_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- $0.84
- Price spread: −0.229% → −0.259%
- $2.98
- Slippage, 4 orders
- −$38.33
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee MEXC: 2 bp × 2 orders
- −$4
- Net
- −$38.52
- Costs to cover
- 0.423%
- Break-even
- 328.0 days
Slippage from Lighter: live order book, 41 min ago; MEXC: live order book, 5 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, 41 min ago | 7.64 bp | 17.8 bp −$18 | 130.2 bp −$1,302 | doesn't fit | doesn't fit |
| Sell MEXC live order book, 5 min ago | 1.15 bp | 7.0 bp −$7 | 37.3 bp −$373 | 170.5 bp −$17.1K | 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit MORPHO_USDC-PERPETUAL | −0.1478% | 1h | 2.6003 | −0.218% | $11K | $2K | 10x | as long as short |
| Kraken Futures PF_MORPHOUSD | −0.1373% | 1h | 2.5982 | −0.297% | $81K | $137K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.0968% | 1h | 2.5982 | −0.298% | $854 | $9K | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0432% | 1h | 2.6044 | −0.060% | $73K | $40K | 25x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0270% | 4h | 2.6056 | −0.013% | $30K | $134K | 10x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.6004 | −0.214% | $638K | $240K | 20x | as long as short |
| Phoenix MORPHO | −0.0154% | 1h | 2.6094 | +0.132% | $34K | $315K | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0124% | 4h | 2.6003 | −0.218% | $10K | $34K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0064% | 1h | 2.6046 | −0.053% | $28K | $1.5M | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.6029 | −0.118% | $16 | — | 10x | as long as short |
Deribit MORPHO_USDC-PERPETUAL
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Coinbase International MORPHO-PERP-INTX
GRVT MORPHO_USDT_Perp
BloFin MORPHO-USDT
Phoenix MORPHO
Orderly PERP_MORPHO_USDC
Polymarket Perps MORPHO-USD
Reya MORPHORUSDPERPShow 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 | +1.421% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHOlong | +0.0096% | 1h | 2.6060 | long leg | $313K | $294K | 5x | |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6012 | −0.182% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6045 | −0.056% | $5.9M | $7.0M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6043 | −0.065% | $58K | $33K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.6001 | −0.224% | $15.8M | $24.5M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.6020 | −0.152% | $8.0M | $8.6M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6009 | −0.195% | $3.2M | $4.1M | 20x | as long as short |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.6010 | −0.191% | $762K | $505K | 50x | as long as short |
| MEXC MORPHO_USDTshort | +0.0100% | 4h | 2.6000 | −0.229% | $6.2M | $895K | 100x | |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6030 | −0.114% | $593K | $254K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5999 | −0.233% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6010 | −0.191% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.6055 | −0.017% | $620K | $677K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6002 | −0.221% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.5999 | −0.234% | $100K | $342K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0182% / S −15.2495% | 1h | 2.6037 | −0.089% | $1K | — | 100x | as long as short |
Injective MORPHO/USDC PERP
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
Gate MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]