MORPHO

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After costs, if the gap returns to its 7d average, $10k−$66

spread now+0.180%7d average+0.273%fees + slippage, in and out−$57spread needed0.569%

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MORPHOUSDT	2.6697	0.0018	pay 0.0009% / 4h	1h 58m	$16.5M	$27.4M	75x
Short	Lighter MORPHO	2.6745	0.0096	get 0.0012% / 1h	58m 44s	$319K	$363K	5x

Price spread history

latest

Range statsloading…

share of time at each level, last 7D

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Position, each leg$Hold forhoursFee BinancebpFee LighterbpOrdersClose when spread is

Slippage from Binance: live order book, 14 min ago; Lighter: live order book, 33 min ago.

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Binance live order book, 14 min ago	0.94 bp	12.3 bp −$12	35.7 bp −$357	doesn't fit	doesn't fit
Sell Lighter live order book, 33 min ago	4.52 bp	7.3 bp −$7	136.3 bp −$1,363	doesn't fit	doesn't fit

against the cheapest. Click to use as the short leg.

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Kraken Futures PF_MORPHOUSD	−0.082%	−0.2239%	1h	$84K	$167K	20x	as long as short
Extended MORPHO-USD	−0.006%	+0.0016%	1h	$101K	$304K	10x	as long as short
MEXC MORPHO_USDT	−0.003%	+0.0016%	4h	$4.8M	$1.2M	100x	as long as short
Binance MORPHOUSDTlong	0.000%	+0.0018%	4h	$16.5M	$27.4M	75x
Paradex MORPHO-USD-PERP	+0.016%	+0.0099%	8h	$5K	$3	5x	as long as short
01 Exchange MORPHOUSD	+0.031%	−0.0864%	1h	$878	$11K	5x	as long as short
Coinbase International MORPHO-PERP-INTX	+0.046%	−0.0352%	1h	$77K	$47K	25x	as long as short
BingX MORPHO-USDT	+0.050%	+0.0100%	4h	—	$1.5M	—	as long as short
SoDEX MORPHO-USD	+0.065%	+0.0100%	1h	$22K	$2K	5x	as long as short
Bybit MORPHOUSDT	+0.068%	−0.0159%	4h	$8.8M	$10.3M	25x	as long as short

Show all 26 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Gate MORPHO_USDT	+0.068%	−0.0668%	4h	$766K	$534K	50x	as long as short
OKX MORPHO-USDT-SWAP	+0.080%	+0.0100%	4h	$3.2M	$4.6M	20x	as long as short
BloFin MORPHO-USDT	+0.083%	−0.0223%	4h	$666K	$205K	20x	as long as short
Orderly PERP_MORPHO_USDC	+0.091%	−0.0203%	4h	$10K	$34K	10x	as long as short
Reya MORPHORUSDPERP	+0.125%	−0.0004%	1h	$16	—	10x	as long as short
Polymarket Perps MORPHO-USD	+0.128%	−0.0686%	1h	$27K	$2.7M	5x	as long as short
Bitget MORPHOUSDT	+0.132%	+0.0100%	4h	$2.9M	$2.1M	75x	as long as short
Deribit MORPHO_USDC-PERPETUAL	+0.140%	−0.0946%	1h	$10K	$745	10x	as long as short
Aster MORPHOUSDT	+0.141%	+0.0100%	4h	$58K	$31K	20x	as long as short
Variational Omni MORPHO	+0.172%	+0.0062%	4h	$652K	$1.4M	—	as long as short
Lighter MORPHOshort	+0.180%	+0.0096%	1h	$319K	$363K	5x
GMX MORPHO/USD [ETH-USDC]	+0.189%	L +0.0158% / S −0.0698%	1h	$2K	—	100x	as long as short
KuCoin MORPHOUSDTM	+0.207%	+0.0100%	4h	$595K	$344K	50x	as long as short
Hyperliquid MORPHO	+0.274%	+0.0100%	1h	$6.4M	$7.1M	5x	as long as short
Phoenix MORPHO	+0.278%	−0.0059%	1h	$34K	$478K	5x	as long as short
Injective MORPHO/USDC PERP	+1.623%	+0.0033%	1h	$38	$34K	5.5x	as long as short