Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.015%
Price spread now: Lighter against Variational Omni+0.173%7-day average +0.217% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.076%+$8 on $10k
+Price spread, last 4 days (all we have)+0.494%+$49 · spread now +0.173%, 7d avg +0.217%
=Together, before fees+0.570%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board+$57 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: Lighter is 0.045% cheaper against Variational Omni than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.217%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Variational Omni MORPHO | 2.5880 | 0.0100 | pay 0.0050% / 4h | 2h 18m | $615K | $677K | — |
| Short | Lighter MORPHO | 2.5925 | 0.0096 | get 0.0012% / 1h | 18m 57s | $312K | $295K | 5x |
Variational Omni MORPHO
Lighter MORPHOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Variational Omni. 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: +0.173% → +0.217%
- −$4.46
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$5.3
- Costs to cover
- 0.000%
- Break-even
- never at this rate
Slippage unknown: Variational Omni: RFQ quote, 35 min ago; Lighter: live order book, 20 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 Variational Omni RFQ quote, 35 min ago | 6.58 bp | doesn't fit | 66.1 bp −$661 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 20 min ago | 7.64 bp | 10.9 bp −$11 | 141.7 bp −$1,417 | 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 | −0.1559% | 1h | 2.5896 | +0.061% | $80K | $127K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1291% | 1h | 2.5921 | +0.157% | $11K | $2K | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.0832% | 1h | 2.5891 | +0.041% | $851 | $9K | 5x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0340% | 4h | 2.5827 | −0.208% | $32K | $134K | 10x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0216% | 1h | 2.5920 | +0.153% | $73K | $39K | 25x | as long as short |
| BloFin MORPHO-USDT | −0.0200% | 4h | 2.5903 | +0.087% | $631K | $239K | 20x | as long as short |
| Phoenix MORPHO | −0.0154% | 1h | 2.5939 | +0.226% | $33K | $330K | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.0128% | 4h | 2.5924 | +0.168% | $10K | $34K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.0005% | 1h | 2.5919 | +0.149% | $16 | — | 10x | as long as short |
| Polymarket Perps MORPHO-USD | +0.0027% | 1h | 2.5926 | +0.176% | $25K | $1.5M | 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
Polymarket Perps MORPHO-USDShow 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 | +2.123% | $37 | $242K | 5.5x | as long as short |
| Lighter MORPHOshort | +0.0096% | 1h | 2.5925 | +0.173% | $312K | $295K | 5x | |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.5928 | +0.186% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.5966 | +0.330% | $5.9M | $6.9M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.5937 | +0.220% | $57K | $31K | 20x | as long as short |
| Binance MORPHOUSDT | +0.0100% | 4h | 2.5931 | +0.194% | $15.7M | $24.2M | 75x | as long as short |
| Bybit MORPHOUSDT | +0.0100% | 4h | 2.5960 | +0.307% | $8.0M | $8.5M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.5956 | +0.292% | $3.2M | $4.0M | 20x | as long as short |
| Gate MORPHO_USDT | +0.0100% | 4h | 2.5923 | +0.164% | $757K | $497K | 50x | as long as short |
| MEXC MORPHO_USDT | +0.0100% | 4h | 2.5917 | +0.141% | $6.2M | $911K | 100x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.5950 | +0.269% | $597K | $246K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.5943 | +0.242% | $2.8M | $1.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.0100% | 4h | 2.5942 | +0.238% | — | $1.4M | — | as long as short |
| Variational Omni MORPHOlong | +0.0100% | 4h | 2.5880 | long leg | $615K | $677K | — | |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.5911 | +0.118% | $21K | $4K | 5x | as long as short |
| Extended MORPHO-USD | +0.0104% | 1h | 2.5924 | +0.166% | $100K | $347K | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0146% / S +0.0040% | 1h | 2.5947 | +0.259% | $6K | — | 100x | as long as short |
Injective MORPHO/USDC PERP
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
Binance MORPHOUSDT
Bybit MORPHOUSDT
OKX MORPHO-USDT-SWAP
Gate MORPHO_USDT
MEXC MORPHO_USDT
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
BingX MORPHO-USDT
SoDEX MORPHO-USD
Extended MORPHO-USD
GMX MORPHO/USD [ETH-USDC]