Spread before costs (cost unknown: a leg has no order-book sample)−1.763%
7d average—if it closes, per $10,000$176funding while held, a day+$33.64
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit MORPHO_USDC-PERPETUAL | 2.7617 | −0.1088 | get 0.0136% / 1h | 5m 21s | $11K | $443 | 10x |
| Short | Injective MORPHO/USDC PERP | 2.7130 | 0.0033 | get 0.0004% / 1h | 5m 21s | $38 | $137K | 5.5x |
Deribit MORPHO_USDC-PERPETUAL
Injective MORPHO/USDC PERPPrice 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
- −$176.34
- Funding while held
- $33.64
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$149.72
- Spread needed to break even
- 0.070%
Slippage unknown: Deribit: no order-book sample; Injective: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.1121%
- Per $10,000 a day
- +$33.64
- 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 Injective no order-book sample | — | — | — | — | — |
Deribit and Injective: 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.Injective2.7130cheapest
01 Exchange2.7514+1.415%Paradex2.7538+1.505%Extended2.7567+1.610%MEXC2.7575+1.640%Bitget2.7585+1.677%Reya2.7585+1.677%Binance2.7593+1.707%Gate2.7599+1.729%Polymarket Perps2.7600+1.732%OKX2.7601+1.736%KuCoin2.7601+1.736%Lighter2.7603+1.744%Aster2.7606+1.755%Orderly2.7611+1.773%
Paradex
Extended
MEXC
Bitget
Reya
Binance
Gate
Polymarket Perps
OKX
KuCoin
Lighter
Aster
OrderlyDeribit2.7617+1.795%
Bybit2.7623+1.817%GMX2.7625+1.824%BingX2.7630+1.843%Variational Omni2.7635+1.861%Kraken Futures2.7637+1.870%SoDEX2.7643+1.891%BloFin2.7654+1.931%Hyperliquid2.7656+1.939%Coinbase International2.7751+2.289%Phoenix2.7753+2.296%
Bybit
GMX
BingX
Variational Omni
Kraken Futures
SoDEX
BloFin
Hyperliquid
Coinbase International
PhoenixMORPHO on 26 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective MORPHO/USDC PERPshort | −1.763% | +0.0033% | 1h | $38 | $137K | 5.5x | |
| 01 Exchange MORPHOUSD | −0.373% | −0.1400% | 1h | $904 | $8K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | −0.285% | +0.0100% | 8h | $5K | $3 | 5x | as long as short |
| Extended MORPHO-USD | −0.182% | +0.0104% | 1h | $104K | $310K | 10x | as long as short |
| MEXC MORPHO_USDT | −0.152% | +0.0100% | 4h | $4.9M | $1.4M | 100x | as long as short |
| Bitget MORPHOUSDT | −0.116% | +0.0100% | 4h | $3.0M | $2.6M | 75x | as long as short |
| Reya MORPHORUSDPERP | −0.116% | −0.0004% | 1h | $17 | — | 10x | as long as short |
| Binance MORPHOUSDT | −0.087% | +0.0100% | 4h | $16.9M | $30.3M | 75x | as long as short |
| Gate MORPHO_USDT | −0.065% | −0.0324% | 4h | $779K | $592K | 50x | as long as short |
| Polymarket Perps MORPHO-USD | −0.062% | −0.0171% | 1h | $31K | $3.0M | 5x | as long as short |