Funding you earn now, next payment 05:00 UTC−0.0228%/8h= −25.0% APRpaid last 24h −0.067%
Price spread now: Orderly against Lighter−0.089%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 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 against this trade now: funding costs −$7 a day on $10k at the current rate, and Orderly is 0.089% cheaper against Lighter than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MORPHO | 2.5975 | 0.0096 | pay 0.0012% / 1h | 2m 46s | $312K | $295K | 5x |
| Short | Orderly PERP_MORPHO_USDC | 2.5952 | −0.0132 | pay 0.0066% / 4h | 3h 02m | $10K | $34K | 10x |
Lighter MORPHO
Orderly PERP_MORPHO_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$47.93
- Price spread: −0.089% → 0.000%
- −$8.89
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$62.82
- Costs to cover
- 0.060%
- Break-even
- never at this rate
Slippage unknown: Lighter: live order book, 41 min ago; Orderly: 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, 41 min ago | 26.48 bp | 30.8 bp −$31 | 159.8 bp −$1,598 | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | −0.2176% | 1h | 2.5941 | −0.133% | $80K | $127K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.0976% | 1h | 2.5910 | −0.251% | $851 | $9K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0905% | 1h | 2.5953 | −0.085% | $11K | $2K | 10x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0506% | 4h | 2.5971 | −0.016% | $33K | $133K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0216% | 1h | 2.5995 | +0.077% | $74K | $41K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.5977 | +0.007% | $633K | $244K | 20x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0147% | 1h | 2.5974 | −0.004% | $24K | $1.5M | 5x | as long as short |
| Orderly PERP_MORPHO_USDCshort | −0.0132% | 4h | 2.5952 | −0.089% | $10K | $34K | 10x | |
| Phoenix MORPHO | −0.0061% | 1h | 2.5989 | +0.054% | $33K | $337K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.5960 | −0.059% | $16 | — | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
01 Exchange MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
GRVT MORPHO_USDT_Perp
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Polymarket Perps MORPHO-USD
Phoenix MORPHO
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 | +1.751% | $37 | $242K | 5.5x | as long as short |
| Bybit MORPHOUSDT | +0.0061% | 4h | 2.5950 | −0.097% | $8.0M | $8.5M | 25x | as long as short |
| Lighter MORPHOlong | +0.0096% | 1h | 2.5975 | long leg | $312K | $295K | 5x | |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5965 | −0.039% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.5986 | +0.042% | $6.0M | $6.8M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.5976 | +0.002% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.5948 | −0.106% | $15.7M | $24.0M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.5967 | −0.031% | $3.2M | $4.0M | 20x | as long as short |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.5951 | −0.093% | $771K | $484K | 50x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.5958 | −0.066% | $6.0M | $841K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.5984 | +0.034% | $596K | $246K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5942 | −0.127% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5953 | −0.085% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.5995 | +0.078% | $618K | $677K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.5949 | −0.100% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.5951 | −0.091% | $99K | $346K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.5985 | +0.038% | $1K | — | 100x | as long as short |
Injective MORPHO/USDC PERP
Bybit MORPHOUSDT
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
OKX MORPHO-USDT-SWAP
Gate MORPHO_USDT
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]