Spread before costs (cost unknown: a leg has no order-book sample)−0.328%
7d average—if it closes, per $10,000$33funding while held, a day−$4.06
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid MORPHO | 2.7419 | 0.0131 | pay 0.0016% / 1h | 33m 49s | $6.7M | $8.1M | 5x |
| Short | Reya MORPHORUSDPERP | 2.7329 | −0.0004 | pay 0.0001% / 1h | 33m 49s | $16 | — | 10x |
Hyperliquid MORPHO
Reya MORPHORUSDPERPPrice 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
- −$32.77
- Funding while held
- −$4.06
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Reya: 3 bp × 2 orders
- −$6
- Net
- −$51.83
- Spread needed to break even
- 0.150%
Slippage unknown: Hyperliquid: live order book, 10 min ago; Reya: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0135%
- Per $10,000 a day
- −$4.06
- 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, 10 min ago | 2.54 bp | 12.3 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
| Sell Reya no order-book sample | — | — | — | — | — |
Reya: 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.Injective2.7130cheapestCoinbase International2.7275+0.534%01 Exchange2.7291+0.593%Paradex2.7316+0.685%Polymarket Perps2.7325+0.719%
Injective
Coinbase International
Paradex
Polymarket PerpsReya2.7329+0.734%
Extended2.7333+0.749%Binance2.7333+0.749%MEXC2.7334+0.752%SoDEX2.7334+0.752%Kraken Futures2.7338+0.768%Orderly2.7339+0.770%Deribit2.7340+0.774%Bitget2.7347+0.800%BloFin2.7347+0.800%OKX2.7348+0.804%BingX2.7348+0.804%Bybit2.7350+0.811%Gate2.7361+0.851%GMX2.7362+0.855%Variational Omni2.7369+0.881%Aster2.7374+0.899%Lighter2.7380+0.922%KuCoin2.7382+0.929%Phoenix2.7416+1.054%
Extended
Binance
MEXC
SoDEX
Kraken Futures
Orderly
Deribit
Bitget
BloFin
OKX
BingX
Bybit
Gate
GMX
Variational Omni
Aster
Lighter
KuCoin
PhoenixHyperliquid2.7419+1.065%
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 | −1.054% | +0.0033% | 1h | $38 | $34K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.525% | −0.0256% | 1h | $79K | $52K | 25x | as long as short |
| 01 Exchange MORPHOUSD | −0.467% | −0.0664% | 1h | $897 | $9K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | −0.376% | +0.0100% | 8h | $5K | $3 | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.343% | −0.0240% | 1h | $27K | $3.0M | 5x | as long as short |
| Reya MORPHORUSDPERPshort | −0.328% | −0.0004% | 1h | $16 | — | 10x | |
| Extended MORPHO-USD | −0.313% | +0.0104% | 1h | $103K | $304K | 10x | as long as short |
| Binance MORPHOUSDT | −0.313% | +0.0100% | 4h | $16.9M | $30.5M | 75x | as long as short |
| MEXC MORPHO_USDT | −0.310% | +0.0100% | 4h | $4.9M | $1.3M | 100x | as long as short |
| SoDEX MORPHO-USD | −0.310% | +0.0100% | 1h | $23K | $2K | 5x | as long as short |
Show all 26 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Kraken Futures PF_MORPHOUSD | −0.294% | −0.1052% | 1h | $99K | $183K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.292% | −0.0133% | 4h | $11K | $34K | 10x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.288% | −0.1211% | 1h | $11K | $443 | 10x | as long as short |
| Bitget MORPHOUSDT | −0.263% | +0.0100% | 4h | $3.0M | $2.6M | 75x | as long as short |
| BloFin MORPHO-USDT | −0.263% | −0.0200% | 4h | $677K | $244K | 20x | as long as short |
| OKX MORPHO-USDT-SWAP | −0.259% | +0.0100% | 4h | $3.2M | $5.6M | 20x | as long as short |
| BingX MORPHO-USDT | −0.259% | +0.0100% | 4h | — | $1.5M | — | as long as short |
| Bybit MORPHOUSDT | −0.252% | +0.0100% | 4h | $9.0M | $11.2M | 25x | as long as short |
| Gate MORPHO_USDT | −0.212% | −0.0320% | 4h | $767K | $574K | 50x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | −0.208% | L +0.0197% / S −0.0897% | 1h | $2K | — | 100x | as long as short |
| Variational Omni MORPHO | −0.182% | +0.0100% | 4h | $670K | $1.4M | — | as long as short |
| Aster MORPHOUSDT | −0.164% | +0.0100% | 4h | $60K | $34K | 20x | as long as short |
| Lighter MORPHO | −0.142% | +0.0096% | 1h | $321K | $474K | 5x | as long as short |
| KuCoin MORPHOUSDTM | −0.135% | +0.0100% | 4h | $663K | $380K | 50x | as long as short |
| Phoenix MORPHO | −0.011% | −0.0146% | 1h | $35K | $554K | 5x | as long as short |
| Hyperliquid MORPHOlong | 0.000% | +0.0131% | 1h | $6.7M | $8.1M | 5x |