Funding you earn now, next payment 05:00 UTC+0.0229%/8h= +25.1% APRnext payment +$0.29 per $10,000 · paid last 24h +0.086%
Price spread now: Lighter against Polymarket Perps+0.058%7-day average +0.216% · you sell dearer than you buy
Net, funding: paid 7d − costs−$43as in the Funding arb table
Net, price: spread back to 7d avg − costs−$92as 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)+0.715%+$71 · spread now +0.058%, 7d avg +0.216%
=Together, before fees+1.037%+ Points / potential airdropLighter: Season 3 · farm board+$104 on $10k · with fees, hour by hour
Funding pays, the price is against you. Lighter is 0.158% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread +0.058% now, against its 7-day average of +0.216%). If the spread goes back, that is −$16 on $10k: about 2.3 days of funding at the current rate (+$7 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Polymarket Perps MORPHO-USD | 2.5982 | −0.0133 | get 0.0017% / 1h | 0m 02s | $24K | $1.5M | 5x |
| Short | Lighter MORPHO | 2.5997 | 0.0096 | get 0.0012% / 1h | 0m 02s | $313K | $295K | 5x |
Polymarket Perps MORPHO-USD
Lighter MORPHOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Polymarket Perps. 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
- $48.08
- Price spread: +0.058% → +0.216%
- −$15.78
- Slippage, 4 orders
- −$67.76
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$43.46
- Costs to cover
- 0.758%
- Break-even
- 13.3 days
Slippage from Polymarket Perps: live order book, 3 min ago; Lighter: live order book, 44 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 Polymarket Perps live order book, 3 min ago | 2.50 bp | 6.8 bp −$7 | 7.3 bp −$73 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 44 min ago | 26.48 bp | 29.9 bp −$30 | 160.2 bp −$1,602 | 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 | −0.2175% | 1h | 2.5952 | −0.116% | $80K | $127K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.0968% | 1h | 2.5926 | −0.216% | $852 | $9K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.0942% | 1h | 2.5966 | −0.062% | $11K | $2K | 10x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0506% | 4h | 2.5971 | −0.043% | $33K | $133K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0216% | 1h | 2.6008 | +0.100% | $74K | $41K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.5953 | −0.112% | $634K | $244K | 20x | as long as short |
| Polymarket Perps MORPHO-USDlong | −0.0133% | 1h | 2.5982 | long leg | $24K | $1.5M | 5x | |
| Orderly PERP_MORPHO_USDC | −0.0129% | 4h | 2.5960 | −0.085% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0061% | 1h | 2.5989 | +0.027% | $33K | $337K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.5975 | −0.026% | $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 | +1.724% | $37 | $242K | 5.5x | as long as short |
| Binance MORPHOUSDT | +0.0095% | 4h | 2.5963 | −0.073% | $15.7M | $24.0M | 75x | as long as short |
| Lighter MORPHOshort | +0.0096% | 1h | 2.5997 | +0.058% | $313K | $295K | 5x | |
| Extended MORPHO-USD | +0.0096% | 1h | 2.5957 | −0.097% | $99K | $346K | 10x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5975 | −0.028% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6014 | +0.123% | $6.0M | $6.8M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.5978 | −0.015% | $57K | $30K | 20x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.5990 | +0.031% | $8.0M | $8.5M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.5988 | +0.023% | $3.2M | $4.0M | 20x | as long as short |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.5974 | −0.031% | $772K | $484K | 50x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.5965 | −0.065% | $6.0M | $841K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.5978 | −0.015% | $596K | $246K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5972 | −0.038% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5983 | +0.004% | — | $1.4M | — | as long as short |
| Variational Omni MORPHO | +0.0100% | 4h | 2.5970 | −0.044% | $617K | $677K | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.5967 | −0.058% | $21K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0186% / S −15.6829% | 1h | 2.5991 | +0.033% | $1K | — | 100x | as long as short |
Injective MORPHO/USDC PERP
Binance MORPHOUSDT
Extended MORPHO-USD
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
Gate MORPHO_USDT
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
Variational Omni MORPHO
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]