MORPHO

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After costs, if the gap returns to its 7d average, $10k−$154

spread now+0.092%7d average+0.035%fees + slippage, in and out−$160spread needed1.600%

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MORPHO_USDT	2.7196	−0.0528	get 0.0264% / 4h	2h 50m	$767K	$538K	50x
Short	BingX MORPHO-USDT	2.7221	0.0100	get 0.0050% / 4h	2h 50m	—	$1.5M	—

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 GatebpFee BingXbpOrdersClose when spread is

Slippage from Gate: live order book, 53 min ago; BingX: 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 Gate live order book, 53 min ago	7.30 bp	69.7 bp −$70	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	2.39 bp	17.1 bp −$17	42.6 bp −$426	233.3 bp −$23.3K	633.4 bp −$316.7K

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Injective MORPHO/USDC PERP	−0.243%	+0.0033%	1h	$38	$34K	5.5x	as long as short
Kraken Futures PF_MORPHOUSD	−0.071%	−0.0919%	1h	$94K	$181K	20x	as long as short
01 Exchange MORPHOUSD	−0.040%	−0.1088%	1h	$893	$10K	5x	as long as short
Gate MORPHO_USDTlong	0.000%	−0.0528%	4h	$767K	$538K	50x
SoDEX MORPHO-USD	+0.026%	+0.0100%	1h	$23K	$2K	5x	as long as short
Orderly PERP_MORPHO_USDC	+0.037%	−0.0164%	4h	$11K	$34K	10x	as long as short
BloFin MORPHO-USDT	+0.040%	−0.0232%	4h	$676K	$223K	20x	as long as short
Binance MORPHOUSDT	+0.048%	+0.0009%	4h	$16.7M	$29.1M	75x	as long as short
Phoenix MORPHO	+0.063%	−0.0059%	1h	$35K	$517K	5x	as long as short
Extended MORPHO-USD	+0.067%	+0.0008%	1h	$102K	$304K	10x	as long as short

Show all 26 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Variational Omni MORPHO	+0.074%	+0.0100%	4h	$664K	$1.4M	—	as long as short
MEXC MORPHO_USDT	+0.081%	+0.0008%	4h	$4.9M	$1.2M	100x	as long as short
Bitget MORPHOUSDT	+0.085%	+0.0100%	4h	$3.0M	$2.3M	75x	as long as short
Polymarket Perps MORPHO-USD	+0.088%	−0.0509%	1h	$27K	$2.8M	5x	as long as short
BingX MORPHO-USDTshort	+0.092%	+0.0100%	4h	—	$1.5M	—
KuCoin MORPHOUSDTM	+0.099%	+0.0100%	4h	$659K	$360K	50x	as long as short
Reya MORPHORUSDPERP	+0.110%	−0.0004%	1h	$16	—	10x	as long as short
Aster MORPHOUSDT	+0.111%	+0.0100%	4h	$60K	$32K	20x	as long as short
Bybit MORPHOUSDT	+0.121%	−0.0048%	4h	$9.0M	$10.8M	25x	as long as short
OKX MORPHO-USDT-SWAP	+0.129%	+0.0100%	4h	$3.2M	$5.2M	20x	as long as short
Lighter MORPHO	+0.136%	+0.0096%	1h	$320K	$364K	5x	as long as short
Paradex MORPHO-USD-PERP	+0.187%	+0.0100%	8h	$5K	$3	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	+0.199%	0.0000%	1h	$11K	$443	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	+0.199%	L +0.0197% / S −0.0897%	1h	$2K	—	100x	as long as short
Hyperliquid MORPHO	+0.331%	+0.0100%	1h	$6.6M	$7.8M	5x	as long as short
Coinbase International MORPHO-PERP-INTX	+0.371%	−0.0336%	1h	$79K	$49K	25x	as long as short