MORPHO

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After costs, if the gap returns to its 7d average, $10k−$13

spread now+0.298%7d average−0.015%fees + slippage, in and out−$44spread needed0.442%

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin MORPHO-USDT	2.7188	−0.0168	get 0.0084% / 4h	3h 17m	$680K	$245K	20x
Short	MEXC MORPHO_USDT	2.7269	0.0078	get 0.0039% / 4h	3h 17m	$4.9M	$1.3M	100x

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 BloFinbpFee MEXCbpOrdersClose when spread is

Slippage from BloFin: live order book, 21 min ago; MEXC: live order book, 1 min ago.

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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy BloFin live order book, 21 min ago	0.55 bp	17.2 bp −$17	30.7 bp −$307	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	0.37 bp	6.1 bp −$6	41.2 bp −$412	203.8 bp −$20.4K	doesn't fit

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Injective MORPHO/USDC PERP	−0.213%	+0.0033%	1h	$38	$34K	5.5x	as long as short
BloFin MORPHO-USDTlong	0.000%	−0.0168%	4h	$680K	$245K	20x
Phoenix MORPHO	+0.092%	−0.0146%	1h	$35K	$554K	5x	as long as short
Gate MORPHO_USDT	+0.173%	−0.0460%	4h	$764K	$574K	50x	as long as short
SoDEX MORPHO-USD	+0.191%	+0.0100%	1h	$23K	$2K	5x	as long as short
01 Exchange MORPHOUSD	+0.202%	−0.0744%	1h	$895	$10K	5x	as long as short
Orderly PERP_MORPHO_USDC	+0.217%	−0.0146%	4h	$11K	$34K	10x	as long as short
Kraken Futures PF_MORPHOUSD	+0.238%	−0.1056%	1h	$99K	$183K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	+0.246%	−0.0923%	1h	$11K	$443	10x	as long as short
KuCoin MORPHOUSDTM	+0.261%	+0.0100%	4h	$660K	$379K	50x	as long as short

Show all 26 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Variational Omni MORPHO	+0.268%	+0.0100%	4h	$666K	$1.4M	—	as long as short
Bitget MORPHOUSDT	+0.287%	+0.0100%	4h	$3.0M	$2.5M	75x	as long as short
MEXC MORPHO_USDTshort	+0.298%	+0.0078%	4h	$4.9M	$1.3M	100x
Extended MORPHO-USD	+0.302%	+0.0080%	1h	$102K	$304K	10x	as long as short
Binance MORPHOUSDT	+0.318%	+0.0081%	4h	$16.8M	$30.4M	75x	as long as short
Polymarket Perps MORPHO-USD	+0.331%	−0.0337%	1h	$28K	$3.0M	5x	as long as short
OKX MORPHO-USDT-SWAP	+0.338%	+0.0100%	4h	$3.2M	$5.6M	20x	as long as short
Reya MORPHORUSDPERP	+0.340%	−0.0004%	1h	$16	—	10x	as long as short
BingX MORPHO-USDT	+0.342%	+0.0100%	4h	—	$1.5M	—	as long as short
GMX MORPHO/USD [ETH-USDC]	+0.356%	L +0.0197% / S −0.0897%	1h	$2K	—	100x	as long as short
Bybit MORPHOUSDT	+0.357%	−0.0274%	4h	$9.0M	$11.1M	25x	as long as short
Aster MORPHOUSDT	+0.366%	+0.0100%	4h	$60K	$34K	20x	as long as short
Paradex MORPHO-USD-PERP	+0.401%	+0.0099%	8h	$5K	$3	5x	as long as short
Lighter MORPHO	+0.424%	+0.0096%	1h	$321K	$476K	5x	as long as short
Hyperliquid MORPHO	+0.504%	+0.0100%	1h	$6.7M	$7.9M	5x	as long as short
Coinbase International MORPHO-PERP-INTX	+0.677%	−0.0256%	1h	$79K	$51K	25x	as long as short