MORPHO

Alert

Spread before costs (cost unknown: a leg has no order-book sample)−0.546%

7d average—if it closes, per $10,000$55funding while held, a day−$2.00

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MORPHOUSDTM	2.6907	0.0100	pay 0.0050% / 4h	1h 15m	$601K	$342K	50x
Short	Injective MORPHO/USDC PERP	2.6760	0.0033	get 0.0004% / 1h	15m 23s	$37	$39K	5.5x

Price spread history

latest

Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Position, each leg$Hold forhoursFee KuCoinbpFee InjectivebpOrdersClose when spread is

Spread captured: −$54.63
Funding while held: −$2
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$68.65
Spread needed to break even: 0.120%

Slippage unknown: KuCoin: live order book, 25 min ago; Injective: no order-book sample. Net counts fees only.

Cost of waiting

funding view

Funding /8h: −0.0067%
Per $10,000 a day: −$2.00
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, 25 min ago	17.36 bp	62.6 bp −$63	207.7 bp −$2,077	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.

MORPHO on 26 venues

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Injective MORPHO/USDC PERPshort	−0.546%	+0.0033%	1h	$37	$39K	5.5x
BloFin MORPHO-USDT	−0.245%	−0.0153%	4h	$665K	$208K	20x	as long as short
Kraken Futures PF_MORPHOUSD	−0.168%	−0.2224%	1h	$85K	$164K	20x	as long as short
SoDEX MORPHO-USD	−0.119%	+0.0100%	1h	$23K	$2K	5x	as long as short
Variational Omni MORPHO	−0.115%	+0.0017%	4h	$652K	$1.4M	—	as long as short
01 Exchange MORPHOUSD	−0.111%	−0.0608%	1h	$883	$12K	5x	as long as short
Orderly PERP_MORPHO_USDC	−0.089%	−0.0208%	4h	$10K	$34K	10x	as long as short
Polymarket Perps MORPHO-USD	−0.082%	−0.0249%	1h	$24K	$2.2M	5x	as long as short
Extended MORPHO-USD	−0.080%	+0.0088%	1h	$101K	$304K	10x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.078%	−0.0530%	1h	$10K	$745	10x	as long as short

Show all 26 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Gate MORPHO_USDT	−0.074%	−0.0518%	4h	$776K	$539K	50x	as long as short
Binance MORPHOUSDT	−0.070%	+0.0086%	4h	$16.5M	$27.2M	75x	as long as short
MEXC MORPHO_USDT	−0.067%	+0.0080%	4h	$5.0M	$1.2M	100x	as long as short
BingX MORPHO-USDT	−0.048%	+0.0100%	4h	—	$1.5M	—	as long as short
Aster MORPHOUSDT	−0.043%	+0.0100%	4h	$59K	$33K	20x	as long as short
Bitget MORPHOUSDT	−0.041%	+0.0100%	4h	$3.0M	$2.1M	75x	as long as short
Paradex MORPHO-USD-PERP	−0.040%	+0.0100%	8h	$5K	$3	5x	as long as short
Reya MORPHORUSDPERP	−0.039%	−0.0004%	1h	$16	—	10x	as long as short
Phoenix MORPHO	−0.037%	−0.0030%	1h	$35K	$478K	5x	as long as short
Bybit MORPHOUSDT	−0.026%	−0.0177%	4h	$8.8M	$10.2M	25x	as long as short
OKX MORPHO-USDT-SWAP	−0.004%	+0.0100%	4h	$3.2M	$4.6M	20x	as long as short
GMX MORPHO/USD [ETH-USDC]	−0.002%	L +0.0158% / S −0.0698%	1h	$2K	—	100x	as long as short
KuCoin MORPHOUSDTMlong	0.000%	+0.0100%	4h	$601K	$342K	50x
Coinbase International MORPHO-PERP-INTX	+0.048%	−0.0352%	1h	$78K	$47K	25x	as long as short
Lighter MORPHO	+0.127%	+0.0096%	1h	$321K	$364K	5x	as long as short
Hyperliquid MORPHO	+0.204%	+0.0100%	1h	$6.4M	$7.1M	5x	as long as short