Spread before costs (cost unknown: a leg has no order-book sample)−2.128%
7d average+1.112%if it closes, per $10,000$213funding while held, a day−$2.26
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid MORPHO | 2.7720 | 0.0109 | pay 0.0014% / 1h | 10m 04s | $6.8M | $8.1M | 5x |
| Short | Injective MORPHO/USDC PERP | 2.7130 | 0.0033 | get 0.0004% / 1h | 10m 04s | $38 | $137K | 5.5x |
Hyperliquid MORPHO
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
- −$212.84
- Funding while held
- −$2.26
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$224.12
- Spread needed to break even
- 0.090%
Slippage unknown: Hyperliquid: live order book, 4 min ago; Injective: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0075%
- Per $10,000 a day
- −$2.26
- 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 Hyperliquid live order book, 4 min ago | 1.81 bp | 17.6 bp −$18 | doesn't fit | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
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
Variational Omni2.7619+1.803%BloFin2.7627+1.832%Phoenix2.7634+1.858%KuCoin2.7640+1.880%Extended2.7643+1.890%MEXC2.7644+1.895%Coinbase International2.7644+1.895%Binance2.7648+1.909%Gate2.7648+1.909%Bitget2.7649+1.913%SoDEX2.7651+1.920%Deribit2.7651+1.920%Reya2.7651+1.921%OKX2.7652+1.924%Orderly2.7652+1.924%Paradex2.7658+1.946%BingX2.7658+1.946%Polymarket Perps2.7667+1.979%GMX2.7679+2.023%Aster2.7679+2.025%Bybit2.7680+2.027%Kraken Futures2.7683+2.038%Lighter2.7686+2.050%
Variational Omni
BloFin
Phoenix
KuCoin
Extended
MEXC
Coinbase International
Binance
Gate
Bitget
SoDEX
Deribit
Reya
OKX
Orderly
Paradex
BingX
Polymarket Perps
GMX
Aster
Bybit
Kraken Futures
LighterHyperliquid2.7720+2.175%
MORPHO on 25 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective MORPHO/USDC PERPshort | −2.128% | +0.0033% | 1h | $38 | $137K | 5.5x | |
| Variational Omni MORPHO | −0.364% | +0.0100% | 4h | $674K | $1.4M | — | as long as short |
| BloFin MORPHO-USDT | −0.335% | −0.0200% | 4h | $687K | $257K | 20x | as long as short |
| Phoenix MORPHO | −0.310% | −0.0058% | 1h | $36K | $514K | 5x | as long as short |
| KuCoin MORPHOUSDTM | −0.289% | +0.0100% | 4h | $631K | $356K | 50x | as long as short |
| Extended MORPHO-USD | −0.279% | +0.0104% | 1h | $104K | $310K | 10x | as long as short |
| MEXC MORPHO_USDT | −0.274% | +0.0100% | 4h | $4.9M | $1.3M | 100x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.274% | −0.0032% | 1h | $80K | $53K | 25x | as long as short |
| Binance MORPHOUSDT | −0.260% | +0.0100% | 4h | $16.9M | $30.2M | 75x | as long as short |
| Gate MORPHO_USDT | −0.260% | −0.0328% | 4h | $779K | $592K | 50x | as long as short |