Spread before costs (cost unknown: a leg has no order-book sample)+0.095%
7d average—if it closes, per $10,000$10funding while held, a day+$23.91
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BingX MORPHO-USDT | 2.7355 | 0.0100 | pay 0.0050% / 4h | 17m 27s | — | $1.5M | — |
| Short | GMX MORPHO/USD [ETH-USDC] | 2.7381 | L +0.0197% / S −0.0897% | get 0.0112% / 1h | 17m 27s | $2K | — | 100x |
BingX MORPHO-USDT
GMX MORPHO/USD [ETH-USDC]Price spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- $9.55
- Funding while held
- $23.91
- Slippage, 4 orders
- no order book: not counted
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- $11.46
- Spread needed to break even
- 0.220%
Slippage unknown: BingX: live order book, 5 min ago; GMX: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0797%
- Per $10,000 a day
- +$23.91
- Average in range /8h
- —
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 BingX live order book, 5 min ago | 3.11 bp | 15.3 bp −$15 | 30.5 bp −$305 | 321.0 bp −$32.1K | 703.8 bp −$351.9K |
| Sell GMX no order-book sample | — | — | — | — | — |
GMX: 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 price on every exchange
against the cheapest. Click to use as the short leg.Injective2.7130cheapest01 Exchange2.7292+0.597%Variational Omni2.7333+0.747%Paradex2.7340+0.775%OKX2.7342+0.781%MEXC2.7346+0.796%Extended2.7348+0.804%Reya2.7353+0.823%
Injective
Variational Omni
Paradex
OKX
MEXC
Extended
ReyaBingX2.7355+0.829%
Orderly2.7355+0.829%Binance2.7358+0.840%Kraken Futures2.7358+0.841%Bitget2.7360+0.848%Deribit2.7361+0.851%Polymarket Perps2.7362+0.855%SoDEX2.7363+0.859%Bybit2.7366+0.870%Gate2.7366+0.870%KuCoin2.7368+0.877%
Orderly
Binance
Kraken Futures
Bitget
Deribit
Polymarket Perps
SoDEX
Bybit
Gate
KuCoinGMX2.7381+0.926%
Lighter2.7391+0.961%BloFin2.7394+0.973%Coinbase International2.7402+1.003%Aster2.7403+1.005%Phoenix2.7411+1.036%Hyperliquid2.7424+1.084%
Lighter
BloFin
Coinbase International
Aster
Phoenix
HyperliquidMORPHO on 26 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective MORPHO/USDC PERP | −0.823% | +0.0033% | 1h | $38 | $85K | 5.5x | as long as short |
| 01 Exchange MORPHOUSD | −0.230% | −0.1136% | 1h | $897 | $8K | 5x | as long as short |
| Variational Omni MORPHO | −0.082% | +0.0073% | 4h | $669K | $1.4M | — | as long as short |
| Paradex MORPHO-USD-PERP | −0.054% | +0.0099% | 8h | $5K | $3 | 5x | as long as short |
| OKX MORPHO-USDT-SWAP | −0.048% | +0.0100% | 4h | $3.2M | $5.8M | 20x | as long as short |
| MEXC MORPHO_USDT | −0.033% | +0.0100% | 4h | $4.9M | $1.3M | 100x | as long as short |
| Extended MORPHO-USD | −0.025% | +0.0104% | 1h | $103K | $310K | 10x | as long as short |
| Reya MORPHORUSDPERP | −0.006% | −0.0004% | 1h | $16 | — | 10x | as long as short |
| BingX MORPHO-USDTlong | 0.000% | +0.0100% | 4h | — | $1.5M | — | |
| Orderly PERP_MORPHO_USDC | 0.000% | −0.0108% | 4h | $11K | $34K | 10x | as long as short |