MORPHO

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After costs, if the gap returns to its 7d average, $10k−$63

spread now+0.145%7d average+0.050%fees + slippage, in and out−$73spread needed0.729%

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MORPHOUSDT	2.7680	−0.0132	get 0.0066% / 4h	1h 10m	$9.0M	$11.0M	25x
Short	Hyperliquid MORPHO	2.7720	0.0109	get 0.0014% / 1h	10m 04s	$6.8M	$8.1M	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 BybitbpFee HyperliquidbpOrdersClose when spread is

Slippage from Bybit: live order book, 5 min ago; Hyperliquid: live order book, 4 min ago.

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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Bybit live order book, 5 min ago	5.45 bp	20.1 bp −$20	78.7 bp −$787	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 4 min ago	1.81 bp	13.8 bp −$14	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	−1.987%	+0.0033%	1h	$38	$137K	5.5x	as long as short
Variational Omni MORPHO	−0.220%	+0.0100%	4h	$674K	$1.4M	—	as long as short
BloFin MORPHO-USDT	−0.191%	−0.0200%	4h	$687K	$257K	20x	as long as short
Phoenix MORPHO	−0.166%	−0.0058%	1h	$36K	$514K	5x	as long as short
KuCoin MORPHOUSDTM	−0.145%	+0.0100%	4h	$631K	$356K	50x	as long as short
Extended MORPHO-USD	−0.135%	+0.0104%	1h	$104K	$310K	10x	as long as short
MEXC MORPHO_USDT	−0.130%	+0.0100%	4h	$4.9M	$1.3M	100x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.130%	−0.0032%	1h	$80K	$53K	25x	as long as short
Binance MORPHOUSDT	−0.116%	+0.0100%	4h	$16.9M	$30.2M	75x	as long as short
Gate MORPHO_USDT	−0.116%	−0.0328%	4h	$779K	$592K	50x	as long as short

Show all 25 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Bitget MORPHOUSDT	−0.112%	+0.0100%	4h	$3.0M	$2.6M	75x	as long as short
SoDEX MORPHO-USD	−0.105%	+0.0100%	1h	$23K	$2K	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.105%	−0.1050%	1h	$11K	$443	10x	as long as short
Reya MORPHORUSDPERP	−0.104%	−0.0004%	1h	$17	—	10x	as long as short
OKX MORPHO-USDT-SWAP	−0.101%	+0.0100%	4h	$3.3M	$5.8M	20x	as long as short
Orderly PERP_MORPHO_USDC	−0.101%	−0.0069%	4h	$11K	$34K	10x	as long as short
Paradex MORPHO-USD-PERP	−0.080%	+0.0100%	8h	$5K	$3	5x	as long as short
BingX MORPHO-USDT	−0.079%	+0.0100%	4h	—	$1.5M	—	as long as short
Polymarket Perps MORPHO-USD	−0.047%	−0.0172%	1h	$33K	$3.0M	5x	as long as short
GMX MORPHO/USD [ETH-USDC]	−0.004%	L +0.0197% / S −0.0897%	1h	$2K	—	100x	as long as short
Aster MORPHOUSDT	−0.003%	+0.0100%	4h	$60K	$34K	20x	as long as short
Bybit MORPHOUSDTlong	0.000%	−0.0132%	4h	$9.0M	$11.0M	25x
Kraken Futures PF_MORPHOUSD	+0.010%	−0.0369%	1h	$99K	$191K	20x	as long as short
Lighter MORPHO	+0.022%	+0.0096%	1h	$325K	$475K	5x	as long as short
Hyperliquid MORPHOshort	+0.145%	+0.0109%	1h	$6.8M	$8.1M	5x