MORPHO

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After costs, if the gap returns to its 7d average, $10k−$32

spread now+0.414%7d average+0.155%fees + slippage, in and out−$58spread needed0.583%

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MORPHOUSDT	2.7803	0.0100	pay 0.0050% / 4h	2h 41m	$3.0M	$2.5M	75x
Short	Hyperliquid MORPHO	2.7918	0.2459	get 0.0307% / 1h	41m 19s	$6.9M	$7.7M	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 BitgetbpFee HyperliquidbpOrdersClose when spread is

Slippage from Bitget: live order book, 3 min ago; Hyperliquid: live order book, 2 min ago.

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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Bitget live order book, 3 min ago	7.55 bp	16.9 bp −$17	78.4 bp −$784	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 2 min ago	1.25 bp	5.8 bp −$6	doesn't fit	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
Injective MORPHO/USDC PERP	−2.421%	+0.0033%	1h	$38	$137K	5.5x	as long as short
Gate MORPHO_USDT	−0.004%	−0.0486%	4h	$769K	$536K	50x	as long as short
Bitget MORPHOUSDTlong	0.000%	+0.0100%	4h	$3.0M	$2.5M	75x
Variational Omni MORPHO	+0.004%	+0.0100%	4h	$692K	$1.4M	—	as long as short
BloFin MORPHO-USDT	+0.011%	−0.0200%	4h	$691K	$250K	20x	as long as short
Paradex MORPHO-USD-PERP	+0.050%	+0.0100%	8h	$5K	$3	5x	as long as short
01 Exchange MORPHOUSD	+0.050%	−0.0504%	1h	$914	$10K	5x	as long as short
MEXC MORPHO_USDT	+0.054%	+0.0100%	4h	$4.8M	$1.3M	100x	as long as short
Extended MORPHO-USD	+0.067%	+0.0104%	1h	$104K	$304K	10x	as long as short
Orderly PERP_MORPHO_USDC	+0.068%	−0.0027%	4h	$11K	$34K	10x	as long as short

Show all 26 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Reya MORPHORUSDPERP	+0.069%	−0.0004%	1h	$17	—	10x	as long as short
SoDEX MORPHO-USD	+0.083%	+0.0100%	1h	$23K	$2K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	+0.094%	−0.0791%	1h	$11K	$443	10x	as long as short
Aster MORPHOUSDT	+0.096%	+0.0100%	4h	$61K	$32K	20x	as long as short
Binance MORPHOUSDT	+0.119%	+0.0100%	4h	$16.9M	$28.9M	75x	as long as short
KuCoin MORPHOUSDTM	+0.122%	+0.0100%	4h	$659K	$326K	50x	as long as short
Bybit MORPHOUSDT	+0.129%	+0.0100%	4h	$9.2M	$10.6M	25x	as long as short
BingX MORPHO-USDT	+0.133%	+0.0100%	4h	—	$1.5M	—	as long as short
Polymarket Perps MORPHO-USD	+0.133%	+0.0100%	1h	$32K	$3.0M	5x	as long as short
OKX MORPHO-USDT-SWAP	+0.162%	+0.0100%	4h	$3.3M	$5.8M	20x	as long as short
GMX MORPHO/USD [ETH-USDC]	+0.164%	L +0.0191% / S −0.0633%	1h	$1K	—	100x	as long as short
Phoenix MORPHO	+0.201%	0.0000%	1h	$36K	$501K	5x	as long as short
Kraken Futures PF_MORPHOUSD	+0.262%	+0.0207%	1h	$100K	$190K	20x	as long as short
Lighter MORPHO	+0.270%	+0.0256%	1h	$326K	$415K	5x	as long as short
Hyperliquid MORPHOshort	+0.414%	+0.2459%	1h	$6.9M	$7.7M	5x
Coinbase International MORPHO-PERP-INTX	+0.414%	+0.0384%	1h	$81K	$53K	25x	as long as short