Funding you earn now, next payment 05:00 UTC−0.0236%/8h= −25.9% APRnext payment −$0.30 per $10,000 · paid last 24h −0.086%
Price spread now: Polymarket Perps against Lighter−0.062%7-day average −0.216% · you buy dearer than you sell
Net, funding: paid 7d − costs−$108as in the Funding arb table
Net, price: spread back to 7d avg − costs−$60as in the Price arb table
costs, in and out, $10k−$760.758% of the position
Funding, last 7 days−0.323%−$32 on $10k
+Price spread, last 4 days (all we have)−0.711%−$71 · spread now −0.062%, 7d avg −0.216%
=Together, before fees−1.034%+ Points / potential airdropLighter: Season 3 · farm board−$103 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Polymarket Perps is 0.154% dearer against Lighter than usual: you sell high and buy low (spread −0.062% now, against its 7-day average of −0.216%): +$15 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 2.2 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MORPHO | 2.5992 | 0.0096 | pay 0.0012% / 1h | 1m 12s | $313K | $295K | 5x |
| Short | Polymarket Perps MORPHO-USD | 2.5976 | −0.0140 | pay 0.0018% / 1h | 1m 12s | $24K | $1.5M | 5x |
Lighter MORPHO
Polymarket Perps MORPHO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket Perps 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
- −$49.66
- Price spread: −0.062% → −0.216%
- $15.4
- Slippage, 4 orders
- −$67.76
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$110.02
- Costs to cover
- 0.758%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 43 min ago; Polymarket Perps: live order book, 2 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, 43 min ago | 26.48 bp | 30.8 bp −$31 | 159.8 bp −$1,598 | doesn't fit | doesn't fit |
| Sell Polymarket Perps live order book, 2 min ago | 2.50 bp | 8.3 bp −$8 | 9.0 bp −$90 | 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 | −0.2174% | 1h | 2.5962 | −0.118% | $80K | $127K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.0968% | 1h | 2.5911 | −0.312% | $851 | $9K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0866% | 1h | 2.5962 | −0.116% | $11K | $2K | 10x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0506% | 4h | 2.5971 | −0.082% | $33K | $133K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0216% | 1h | 2.6048 | +0.215% | $74K | $41K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.5953 | −0.150% | $634K | $244K | 20x | as long as short |
| Polymarket Perps MORPHO-USDshort | −0.0140% | 1h | 2.5976 | −0.062% | $24K | $1.5M | 5x | |
| Orderly PERP_MORPHO_USDC | −0.0131% | 4h | 2.5958 | −0.131% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0061% | 1h | 2.5989 | −0.012% | $33K | $337K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.5965 | −0.104% | $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
Orderly PERP_MORPHO_USDC
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 | +1.685% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHOlong | +0.0096% | 1h | 2.5992 | long leg | $313K | $295K | 5x | |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.5980 | −0.047% | $8.0M | $8.5M | 25x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5935 | −0.219% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6003 | +0.042% | $6.0M | $6.8M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.5980 | −0.048% | $57K | $30K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.5960 | −0.125% | $15.7M | $24.0M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.5988 | −0.016% | $3.2M | $4.0M | 20x | as long as short |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.5976 | −0.062% | $772K | $484K | 50x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.5963 | −0.112% | $6.0M | $841K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.5987 | −0.020% | $596K | $246K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5970 | −0.085% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5978 | −0.054% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.5995 | +0.013% | $618K | $677K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.5975 | −0.066% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.5945 | −0.181% | $99K | $346K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.5986 | −0.023% | $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]