Spread before costs (cost unknown: a leg has no order-book sample)−0.377%
7d average—if it closes, per $10,000$38funding while held, a day+$32.69
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_MORPHOUSD | 2.7233 | −0.1056 | get 0.0132% / 1h | 21m 13s | $99K | $183K | 20x |
| Short | Injective MORPHO/USDC PERP | 2.7130 | 0.0033 | get 0.0004% / 1h | 21m 13s | $38 | $34K | 5.5x |
Kraken Futures PF_MORPHOUSD
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
- −$37.69
- Funding while held
- $32.69
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$15.02
- Spread needed to break even
- 0.100%
Slippage unknown: Kraken Futures: live order book, 23 min ago; Injective: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.1090%
- Per $10,000 a day
- +$32.69
- 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 Kraken Futures live order book, 23 min ago | 19.30 bp | 38.4 bp −$38 | 3346.0 bp −$33.5K | 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
01 Exchange2.7186+0.206%Extended2.7205+0.277%Binance2.7211+0.299%SoDEX2.7212+0.302%Reya2.7217+0.319%Bitget2.7219+0.328%MEXC2.7221+0.335%OKX2.7222+0.339%Polymarket Perps2.7222+0.339%Deribit2.7222+0.339%Paradex2.7222+0.341%Orderly2.7223+0.343%BingX2.7230+0.369%
Extended
Binance
SoDEX
Reya
Bitget
MEXC
OKX
Polymarket Perps
Deribit
Paradex
Orderly
BingXKraken Futures2.7233+0.378%
Bybit2.7247+0.431%Gate2.7248+0.435%Lighter2.7255+0.462%GMX2.7260+0.480%KuCoin2.7265+0.498%BloFin2.7275+0.534%Hyperliquid2.7282+0.560%Aster2.7283+0.564%Phoenix2.7341+0.778%Variational Omni2.7345+0.794%Coinbase International2.7372+0.892%
Bybit
Gate
Lighter
GMX
KuCoin
BloFin
Hyperliquid
Aster
Phoenix
Variational Omni
Coinbase InternationalMORPHO on 26 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective MORPHO/USDC PERPshort | −0.377% | +0.0033% | 1h | $38 | $34K | 5.5x | |
| 01 Exchange MORPHOUSD | −0.171% | −0.0720% | 1h | $893 | $10K | 5x | as long as short |
| Extended MORPHO-USD | −0.101% | +0.0088% | 1h | $103K | $304K | 10x | as long as short |
| Binance MORPHOUSDT | −0.080% | +0.0087% | 4h | $16.8M | $30.4M | 75x | as long as short |
| SoDEX MORPHO-USD | −0.076% | +0.0100% | 1h | $23K | $2K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.059% | −0.0004% | 1h | $16 | — | 10x | as long as short |
| Bitget MORPHOUSDT | −0.050% | +0.0100% | 4h | $3.0M | $2.6M | 75x | as long as short |
| MEXC MORPHO_USDT | −0.043% | +0.0090% | 4h | $4.9M | $1.3M | 100x | as long as short |
| OKX MORPHO-USDT-SWAP | −0.039% | +0.0100% | 4h | $3.2M | $5.6M | 20x | as long as short |
| Polymarket Perps MORPHO-USD | −0.039% | −0.0328% | 1h | $28K | $3.0M | 5x | as long as short |