After costs, if the gap returns to its 7d average, $10k−$87
spread now−0.292%7d average+0.014%fees + slippage, in and out−$57spread needed0.568%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid MORPHO | 2.7047 | 0.0100 | pay 0.0013% / 1h | 59m 58s | $6.4M | $7.1M | 5x |
| Short | Phoenix MORPHO | 2.6968 | −0.0030 | pay 0.0004% / 1h | 59m 58s | $35K | $478K | 5x |
Hyperliquid MORPHO
Phoenix 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
- −$29.21
- Funding while held
- −$3.9
- Slippage, 4 orders
- −$40.75
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$89.86
- Spread needed to break even
- 0.568%
Slippage from Hyperliquid: live order book, 4 min ago; Phoenix: live order book, 34 min ago.
Cost of waiting
funding view- Funding /8h
- −0.0130%
- Per $10,000 a day
- −$3.90
- 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 | 0.74 bp | 14.0 bp −$14 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 34 min ago | 1.12 bp | 12.9 bp −$13 | 44.5 bp −$445 | doesn't fit | doesn't fit |
MORPHO price on every exchange
against the cheapest. Click to use as the short leg.Injective2.6760cheapest01 Exchange2.6940+0.673%Polymarket Perps2.6954+0.725%Orderly2.6955+0.729%Kraken Futures2.6957+0.736%Extended2.6960+0.749%Paradex2.6964+0.762%KuCoin2.6965+0.766%SoDEX2.6965+0.766%Gate2.6966+0.770%MEXC2.6966+0.770%BingX2.6967+0.774%
Injective
Polymarket Perps
Orderly
Kraken Futures
Extended
Paradex
KuCoin
SoDEX
Gate
MEXC
BingXPhoenix2.6968+0.777%
Reya2.6969+0.780%Binance2.6969+0.781%Deribit2.6970+0.785%Bitget2.6973+0.796%Variational Omni2.6976+0.806%BloFin2.6976+0.807%Bybit2.6977+0.811%OKX2.6980+0.822%Aster2.6983+0.833%GMX2.6984+0.838%Lighter2.7005+0.917%Coinbase International2.7014+0.949%
Reya
Binance
Deribit
Bitget
Variational Omni
BloFin
Bybit
OKX
Aster
GMX
Lighter
Coinbase InternationalHyperliquid2.7047+1.072%
MORPHO on 26 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective MORPHO/USDC PERP | −1.061% | +0.0033% | 1h | $37 | $39K | 5.5x | as long as short |
| 01 Exchange MORPHOUSD | −0.396% | −0.0536% | 1h | $885 | $12K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.344% | −0.0198% | 1h | $24K | $2.2M | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.340% | −0.0210% | 4h | $10K | $34K | 10x | as long as short |
| Kraken Futures PF_MORPHOUSD | −0.333% | −0.2216% | 1h | $85K | $164K | 20x | as long as short |
| Extended MORPHO-USD | −0.320% | +0.0104% | 1h | $101K | $304K | 10x | as long as short |
| Paradex MORPHO-USD-PERP | −0.308% | +0.0100% | 8h | $5K | $3 | 5x | as long as short |
| KuCoin MORPHOUSDTM | −0.303% | +0.0100% | 4h | $602K | $317K | 50x | as long as short |
| SoDEX MORPHO-USD | −0.303% | +0.0100% | 1h | $23K | $2K | 5x | as long as short |
| Gate MORPHO_USDT | −0.299% | −0.0386% | 4h | $778K | $541K | 50x | as long as short |
Show all 26 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| MEXC MORPHO_USDT | −0.299% | +0.0100% | 4h | $5.1M | $1.2M | 100x | as long as short |
| BingX MORPHO-USDT | −0.296% | +0.0100% | 4h | — | $1.5M | — | as long as short |
| Phoenix MORPHOshort | −0.292% | −0.0030% | 1h | $35K | $478K | 5x | |
| Reya MORPHORUSDPERP | −0.290% | −0.0004% | 1h | $16 | — | 10x | as long as short |
| Binance MORPHOUSDT | −0.288% | +0.0100% | 4h | $16.6M | $27.0M | 75x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.285% | −0.1009% | 1h | $11K | $745 | 10x | as long as short |
| Bitget MORPHOUSDT | −0.274% | +0.0100% | 4h | $3.0M | $2.0M | 75x | as long as short |
| Variational Omni MORPHO | −0.264% | +0.0097% | 4h | $654K | $1.4M | — | as long as short |
| BloFin MORPHO-USDT | −0.263% | −0.0200% | 4h | $668K | $210K | 20x | as long as short |
| Bybit MORPHOUSDT | −0.259% | −0.0074% | 4h | $8.9M | $10.2M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | −0.248% | +0.0100% | 4h | $3.2M | $4.6M | 20x | as long as short |
| Aster MORPHOUSDT | −0.237% | +0.0100% | 4h | $59K | $33K | 20x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | −0.232% | L +0.0193% / S −0.0879% | 1h | $2K | — | 100x | as long as short |
| Lighter MORPHO | −0.153% | +0.0096% | 1h | $321K | $365K | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.122% | −0.0352% | 1h | $78K | $47K | 25x | as long as short |
| Hyperliquid MORPHOlong | 0.000% | +0.0100% | 1h | $6.4M | $7.1M | 5x |