Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +11.0% APRnext payment +$0.13 per $10,000 · paid last 24h +0.031%
Price spread now: Lighter against Reya+0.139%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropReya: Active · Lighter: Season 3 · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Lighter is 0.139% dearer against Reya than usual: you sell high and buy low: +$14 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Reya MORPHORUSDPERP | 2.6443 | −0.0004 | get 0.0001% / 1h | 17m 44s | $16 | — | 10x |
| Short | Lighter MORPHO | 2.6479 | 0.0096 | get 0.0012% / 1h | 17m 44s | $315K | $334K | 5x |
Reya MORPHORUSDPERP
Lighter MORPHOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Reya. 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
- $21.09
- Price spread: +0.139% → 0.000%
- $13.88
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $28.97
- Costs to cover
- 0.060%
- Break-even
- from the start
Slippage unknown: Reya: no order-book sample; Lighter: live order book, 57 min ago. 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 Reya no order-book sample | — | — | — | — | — |
| Sell Lighter live order book, 57 min ago | 14.65 bp | 16.9 bp −$17 | 164.1 bp −$1,641 | doesn't fit | doesn't fit |
Reya: 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 | −0.1859% | 1h | 2.6406 | −0.138% | $81K | $151K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1298% | 1h | 2.6445 | +0.009% | $11K | $812 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.1168% | 1h | 2.6383 | −0.225% | $867 | $13K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0699% | 1h | 2.6442 | −0.002% | $24K | $1.7M | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0570% | 4h | 2.6439 | −0.013% | $29K | $146K | 10x | as long as short |
| Bybit MORPHOUSDT | −0.0471% | 4h | 2.6447 | +0.017% | $8.5M | $9.3M | 25x | as long as short |
| Injective MORPHO/USDC PERP | −0.0337% | 1h | 2.6430 | −0.048% | $37 | $242K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0312% | 1h | 2.6413 | −0.112% | $76K | $43K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0197% | 4h | 2.6470 | +0.104% | $639K | $247K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0146% | 4h | 2.6444 | +0.005% | $10K | $34K | 10x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
GRVT MORPHO_USDT_Perp
Bybit MORPHOUSDT
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
BloFin MORPHO-USDT
Orderly PERP_MORPHO_USDCShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | −0.0132% | 4h | 2.6460 | +0.066% | $768K | $533K | 50x | as long as short |
| Phoenix MORPHO | −0.0090% | 1h | 2.6403 | −0.150% | $43K | $484K | 5x | as long as short |
| Variational Omni MORPHO | −0.0076% | 4h | 2.6437 | −0.022% | $627K | $1.2M | — | as long as short |
| Reya MORPHORUSDPERPlong | −0.0004% | 1h | 2.6443 | long leg | $16 | — | 10x | |
| Extended MORPHO-USD | +0.0040% | 1h | 2.6432 | −0.039% | $103K | $301K | 10x | as long as short |
| MEXC MORPHO_USDT | +0.0042% | 4h | 2.6436 | −0.025% | $5.4M | $1.1M | 100x | as long as short |
| Binance MORPHOUSDT | +0.0043% | 4h | 2.6437 | −0.021% | $16.1M | $25.8M | 75x | as long as short |
| Lighter MORPHOshort | +0.0096% | 1h | 2.6479 | +0.139% | $315K | $334K | 5x | |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6437 | −0.020% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6508 | +0.246% | $6.2M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6463 | +0.079% | $58K | $31K | 20x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6451 | +0.032% | $3.2M | $4.4M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6466 | +0.089% | $592K | $269K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6458 | +0.058% | $2.9M | $1.9M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.6449 | +0.024% | — | $1.4M | — | as long as short |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6445 | +0.009% | $22K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6481 | +0.147% | $1K | — | 100x | as long as short |
Gate MORPHO_USDT
Phoenix MORPHO
Variational Omni MORPHO
Extended MORPHO-USD
MEXC MORPHO_USDT
Binance MORPHOUSDT
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]