After costs, if the gap returns to its 7d average, $10k−$191
spread now+0.148%7d average+0.095%fees + slippage, in and out−$197spread needed1.967%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin MORPHOUSDTM | 2.7676 | 0.0100 | pay 0.0050% / 4h | 1h 06m | $631K | $356K | 50x |
| Short | Hyperliquid MORPHO | 2.7717 | 0.0118 | get 0.0015% / 1h | 6m 48s | $6.8M | $8.1M | 5x |
KuCoin MORPHOUSDTM
Hyperliquid 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
- $14.81
- Funding while held
- $0.54
- Slippage, 4 orders
- −$175.75
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$181.39
- Spread needed to break even
- 1.967%
Slippage from KuCoin: live order book, 4 min ago; Hyperliquid: live order book, 7 min ago.
Cost of waiting
funding view- Funding /8h
- +0.0018%
- Per $10,000 a day
- +$0.54
- 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 KuCoin live order book, 4 min ago | 14.66 bp | 59.0 bp −$59 | 220.0 bp −$2,200 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 7 min ago | 1.81 bp | 13.8 bp −$14 | doesn't fit | doesn't fit | doesn't fit |
MORPHO price on every exchange
against the cheapest. Click to use as the short leg.Injective2.7130cheapestVariational Omni2.7619+1.803%Extended2.7634+1.857%Orderly2.7637+1.869%Binance2.7639+1.877%SoDEX2.7643+1.891%MEXC2.7644+1.895%OKX2.7650+1.917%BloFin2.7654+1.931%Deribit2.7655+1.935%Reya2.7658+1.947%Bybit2.7660+1.954%Gate2.7661+1.957%Aster2.7673+2.003%Paradex2.7674+2.004%GMX2.7675+2.010%
Injective
Variational Omni
Extended
Orderly
Binance
SoDEX
MEXC
OKX
BloFin
Deribit
Reya
Bybit
Gate
Aster
Paradex
GMXKuCoin2.7676+2.013%
Kraken Futures2.7678+2.021%Polymarket Perps2.7680+2.027%Bitget2.7681+2.031%Lighter2.7681+2.031%BingX2.7693+2.075%
Kraken Futures
Polymarket Perps
Bitget
Lighter
BingXHyperliquid2.7717+2.164%
Coinbase International2.7751+2.289%Phoenix2.7753+2.296%
Coinbase International
PhoenixMORPHO on 25 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective MORPHO/USDC PERP | −1.973% | +0.0033% | 1h | $38 | $137K | 5.5x | as long as short |
| Variational Omni MORPHO | −0.206% | +0.0100% | 4h | $674K | $1.4M | — | as long as short |
| Extended MORPHO-USD | −0.153% | +0.0104% | 1h | $104K | $310K | 10x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.141% | −0.0069% | 4h | $11K | $34K | 10x | as long as short |
| Binance MORPHOUSDT | −0.133% | +0.0100% | 4h | $16.9M | $30.2M | 75x | as long as short |
| SoDEX MORPHO-USD | −0.119% | +0.0100% | 1h | $23K | $2K | 5x | as long as short |
| MEXC MORPHO_USDT | −0.116% | +0.0100% | 4h | $5.0M | $1.4M | 100x | as long as short |
| OKX MORPHO-USDT-SWAP | −0.094% | +0.0100% | 4h | $3.3M | $5.8M | 20x | as long as short |
| BloFin MORPHO-USDT | −0.079% | −0.0200% | 4h | $682K | $257K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.076% | −0.0689% | 1h | $11K | $443 | 10x | as long as short |
Show all 25 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Reya MORPHORUSDPERP | −0.064% | −0.0004% | 1h | $17 | — | 10x | as long as short |
| Bybit MORPHOUSDT | −0.058% | −0.0135% | 4h | $9.0M | $11.0M | 25x | as long as short |
| Gate MORPHO_USDT | −0.054% | −0.0300% | 4h | $781K | $592K | 50x | as long as short |
| Aster MORPHOUSDT | −0.009% | +0.0100% | 4h | $60K | $34K | 20x | as long as short |
| Paradex MORPHO-USD-PERP | −0.008% | +0.0100% | 8h | $5K | $3 | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | −0.003% | L +0.0197% / S −0.0897% | 1h | $2K | — | 100x | as long as short |
| KuCoin MORPHOUSDTMlong | 0.000% | +0.0100% | 4h | $631K | $356K | 50x | |
| Kraken Futures PF_MORPHOUSD | +0.009% | −0.0369% | 1h | $99K | $191K | 20x | as long as short |
| Polymarket Perps MORPHO-USD | +0.014% | −0.0161% | 1h | $33K | $3.0M | 5x | as long as short |
| Bitget MORPHOUSDT | +0.018% | +0.0100% | 4h | $3.0M | $2.6M | 75x | as long as short |
| Lighter MORPHO | +0.018% | +0.0096% | 1h | $326K | $476K | 5x | as long as short |
| BingX MORPHO-USDT | +0.061% | +0.0100% | 4h | — | $1.5M | — | as long as short |
| Hyperliquid MORPHOshort | +0.148% | +0.0118% | 1h | $6.8M | $8.1M | 5x | |
| Coinbase International MORPHO-PERP-INTX | +0.271% | −0.0032% | 1h | $81K | $53K | 25x | as long as short |
| Phoenix MORPHO | +0.278% | −0.0058% | 1h | $36K | $514K | 5x | as long as short |