Spread before costs (cost unknown: a leg has no order-book sample)+0.163%
7d average—if it closes, per $10,000$16funding while held, a day+$68.54
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit MORPHO_USDC-PERPETUAL | 2.7676 | −0.1193 | get 0.0149% / 1h | 0m 26s | $11K | $443 | 10x |
| Short | Hyperliquid MORPHO | 2.7721 | 0.1092 | get 0.0136% / 1h | 0m 26s | $6.7M | $7.9M | 5x |
Deribit MORPHO_USDC-PERPETUAL
Hyperliquid MORPHOPrice 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
- $16.26
- Funding while held
- $68.54
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $68.8
- Spread needed to break even
- 0.160%
Slippage unknown: Deribit: no order-book sample; Hyperliquid: live order book, 3 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.2285%
- Per $10,000 a day
- +$68.54
- 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 Deribit no order-book sample | — | — | — | — | — |
| Sell Hyperliquid live order book, 3 min ago | 1.80 bp | 15.3 bp −$15 | doesn't fit | doesn't fit | doesn't fit |
Deribit: 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.Injective2.7130cheapestExtended2.7633+1.854%Paradex2.7634+1.858%Binance2.7643+1.892%Reya2.7647+1.905%Gate2.7647+1.906%MEXC2.7649+1.913%01 Exchange2.7650+1.917%BingX2.7652+1.924%OKX2.7656+1.939%Polymarket Perps2.7659+1.950%Variational Omni2.7662+1.962%SoDEX2.7665+1.972%Orderly2.7666+1.976%Bitget2.7672+1.998%BloFin2.7673+2.001%
Injective
Extended
Paradex
Binance
Reya
Gate
MEXC
BingX
OKX
Polymarket Perps
Variational Omni
SoDEX
Orderly
Bitget
BloFinDeribit2.7676+2.013%
Phoenix2.7681+2.031%Lighter2.7687+2.055%KuCoin2.7689+2.060%Bybit2.7690+2.064%GMX2.7698+2.093%Aster2.7699+2.098%Kraken Futures2.7699+2.099%
Phoenix
Lighter
KuCoin
Bybit
GMX
Aster
Kraken FuturesHyperliquid2.7721+2.178%
Coinbase International2.7791+2.436%
Coinbase InternationalMORPHO on 26 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective MORPHO/USDC PERP | −1.973% | +0.0033% | 1h | $38 | $137K | 5.5x | as long as short |
| Extended MORPHO-USD | −0.156% | +0.0104% | 1h | $104K | $310K | 10x | as long as short |
| Paradex MORPHO-USD-PERP | −0.152% | +0.0100% | 8h | $5K | $3 | 5x | as long as short |
| Binance MORPHOUSDT | −0.119% | +0.0100% | 4h | $16.9M | $29.6M | 75x | as long as short |
| Reya MORPHORUSDPERP | −0.106% | −0.0004% | 1h | $17 | — | 10x | as long as short |
| Gate MORPHO_USDT | −0.105% | −0.0418% | 4h | $768K | $574K | 50x | as long as short |
| MEXC MORPHO_USDT | −0.098% | +0.0100% | 4h | $4.9M | $1.3M | 100x | as long as short |
| 01 Exchange MORPHOUSD | −0.094% | −0.0640% | 1h | $909 | $9K | 5x | as long as short |
| BingX MORPHO-USDT | −0.087% | +0.0100% | 4h | — | $1.5M | — | as long as short |
| OKX MORPHO-USDT-SWAP | −0.072% | +0.0100% | 4h | $3.3M | $5.8M | 20x | as long as short |