Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h 0.000%
Price spread now: OKX against Lighter−0.054%7-day average −0.222% · you buy dearer than you sell
Net, funding: paid 7d − costs−$106as in the Funding arb table
Net, price: spread back to 7d avg − costs−$82as in the Price arb table
costs, in and out, $10k−$980.985% of the position
Funding, last 7 days−0.071%−$7 on $10k
+Price spread, last 4 days (all we have)−0.377%−$38 · spread now −0.054%, 7d avg −0.222%
=Together, before fees−0.448%+ Points / potential airdropLighter: Season 3 · farm board−$45 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: OKX is 0.168% dearer against Lighter than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of −0.222%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MORPHO | 2.6018 | 0.0096 | pay 0.0012% / 1h | 51m 59s | $313K | $294K | 5x |
| Short | OKX MORPHO-USDT-SWAP | 2.6004 | 0.0100 | get 0.0050% / 4h | 2h 51m | $3.2M | $4.0M | 20x |
Lighter MORPHO
OKX MORPHO-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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: −0.054% → −0.222%
- $16.79
- Slippage, 4 orders
- −$88.49
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$80.86
- Costs to cover
- 0.985%
- Break-even
- 680.8 days
Slippage from Lighter: live order book, 52 min ago; OKX: live order book, just now.
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, 52 min ago | 26.48 bp | 30.8 bp −$31 | 159.8 bp −$1,598 | doesn't fit | doesn't fit |
| Sell OKX live order book, just now | 2.50 bp | 22.6 bp −$23 | 82.5 bp −$825 | 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 | −0.1555% | 1h | 2.5960 | −0.223% | $80K | $127K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1172% | 1h | 2.5980 | −0.146% | $11K | $2K | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0880% | 1h | 2.5933 | −0.327% | $852 | $9K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0460% | 4h | 2.5950 | −0.261% | $33K | $134K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0216% | 1h | 2.5995 | −0.089% | $74K | $41K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0192% | 4h | 2.5908 | −0.423% | $635K | $244K | 20x | as long as short |
| Phoenix MORPHO | −0.0154% | 1h | 2.5950 | −0.262% | $33K | $330K | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0130% | 4h | 2.5975 | −0.166% | $10K | $34K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.5973 | −0.173% | $16 | — | 10x | as long as short |
| Injective MORPHO/USDC PERP | +0.0033% | 1h | 2.6430 | +1.583% | $37 | $242K | 5.5x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Phoenix MORPHO
Orderly PERP_MORPHO_USDC
Reya MORPHORUSDPERP
Injective MORPHO/USDC PERPShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Polymarket Perps MORPHO-USD | +0.0077% | 1h | 2.5987 | −0.120% | $24K | $1.5M | 5x | as long as short |
| MEXC MORPHO_USDT | +0.0094% | 4h | 2.5971 | −0.181% | $6.0M | $824K | 100x | as long as short |
| Lighter MORPHOlong | +0.0096% | 1h | 2.6018 | long leg | $313K | $294K | 5x | |
| Extended MORPHO-USD | +0.0096% | 1h | 2.5968 | −0.193% | $99K | $343K | 10x | as long as short |
| Binance MORPHOUSDT | +0.0097% | 4h | 2.5970 | −0.185% | $15.7M | $24.0M | 75x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5989 | −0.113% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6023 | +0.019% | $6.0M | $6.8M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.5970 | −0.185% | $57K | $30K | 20x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.5990 | −0.108% | $8.0M | $8.5M | 25x | as long as short |
| OKX MORPHO-USDT-SWAPshort | +0.0100% | 4h | 2.6004 | −0.054% | $3.2M | $4.0M | 20x | |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.5975 | −0.166% | $773K | $479K | 50x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.5992 | −0.100% | $597K | $246K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5969 | −0.189% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5988 | −0.116% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.5945 | −0.279% | $616K | $677K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.5969 | −0.189% | $21K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.6006 | −0.048% | $1K | — | 100x | as long as short |
Polymarket Perps MORPHO-USD
MEXC MORPHO_USDT
Extended MORPHO-USD
Binance MORPHOUSDT
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Bybit MORPHOUSDT
Gate MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]