Spread before costs (cost unknown: a leg has no order-book sample)+0.231%
7d average—if it closes, per $10,000$23funding while held, a day−$3.48
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX MORPHO/USD [ETH-USDC] | 2.7363 | L +0.0197% / S −0.0897% | pay 0.0025% / 1h | 31m 28s | $2K | — | 100x |
| Short | Bybit MORPHOUSDT | 2.7426 | 0.0081 | get 0.0040% / 4h | 3h 31m | $9.0M | $11.2M | 25x |
GMX MORPHO/USD [ETH-USDC]
Bybit MORPHOUSDTPrice 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
- $23.1
- Funding while held
- −$3.48
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$3.38
- Spread needed to break even
- 0.230%
Slippage unknown: GMX: no order-book sample; Bybit: live order book, 3 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0116%
- Per $10,000 a day
- −$3.48
- 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 GMX no order-book sample | — | — | — | — | — |
| Sell Bybit live order book, 3 min ago | 3.66 bp | 21.7 bp −$22 | 70.1 bp −$701 | doesn't fit | doesn't fit |
GMX: 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.Injective2.7130cheapestOrderly2.7329+0.734%BloFin2.7330+0.737%SoDEX2.7331+0.741%Deribit2.7336+0.759%Kraken Futures2.7347+0.801%Phoenix2.7351+0.815%Gate2.7361+0.851%
Injective
Orderly
BloFin
SoDEX
Deribit
Kraken Futures
Phoenix
GateGMX2.7363+0.858%
Coinbase International2.7364+0.863%Variational Omni2.7369+0.881%01 Exchange2.7372+0.892%Aster2.7374+0.899%Extended2.7380+0.922%BingX2.7388+0.951%Paradex2.7393+0.970%Lighter2.7399+0.993%MEXC2.7422+1.076%KuCoin2.7422+1.076%Polymarket Perps2.7422+1.076%Binance2.7423+1.080%Reya2.7425+1.088%
Coinbase International
Variational Omni
Aster
Extended
BingX
Paradex
Lighter
MEXC
KuCoin
Polymarket Perps
Binance
ReyaBybit2.7426+1.091%
OKX2.7426+1.091%Bitget2.7440+1.143%Hyperliquid2.7501+1.367%
OKX
Bitget
HyperliquidMORPHO on 26 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective MORPHO/USDC PERP | −0.851% | +0.0033% | 1h | $38 | $34K | 5.5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.123% | −0.0135% | 4h | $11K | $34K | 10x | as long as short |
| BloFin MORPHO-USDT | −0.120% | −0.0200% | 4h | $677K | $244K | 20x | as long as short |
| SoDEX MORPHO-USD | −0.116% | +0.0100% | 1h | $23K | $2K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.098% | −0.0992% | 1h | $11K | $443 | 10x | as long as short |
| Kraken Futures PF_MORPHOUSD | −0.057% | −0.1052% | 1h | $99K | $183K | 20x | as long as short |
| Phoenix MORPHO | −0.043% | −0.0146% | 1h | $35K | $554K | 5x | as long as short |
| Gate MORPHO_USDT | −0.007% | −0.0322% | 4h | $767K | $574K | 50x | as long as short |
| GMX MORPHO/USD [ETH-USDC]long | 0.000% | L +0.0197% / S −0.0897% | 1h | $2K | — | 100x | |
| Coinbase International MORPHO-PERP-INTX | +0.004% | −0.0256% | 1h | $79K | $52K | 25x | as long as short |