MORPHO

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After costs, if the gap returns to its 7d average, $10k−$38

spread now−0.015%7d average−0.198%fees + slippage, in and out−$57spread needed0.566%

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MORPHO	2.7074	0.0096	pay 0.0012% / 1h	39m 55s	$318K	$364K	5x
Short	Bybit MORPHOUSDT	2.7070	−0.0125	pay 0.0062% / 4h	2h 39m	$8.9M	$10.7M	25x

Price spread history

latest

Range statsloading…

share of time at each level, last 7D

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

Position, each leg$Hold forhoursFee LighterbpFee BybitbpOrdersClose when spread is

Slippage from Lighter: live order book, 57 min ago; Bybit: live order book, 5 min ago.

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Lighter live order book, 57 min ago	3.56 bp	9.6 bp −$10	111.3 bp −$1,113	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	3.68 bp	18.6 bp −$19	65.0 bp −$650	doesn't fit	doesn't fit

against the cheapest. Click to use as the short leg.

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
01 Exchange MORPHOUSD	−0.215%	−0.0968%	1h	$888	$11K	5x	as long as short
MEXC MORPHO_USDT	−0.111%	0.0000%	4h	$4.8M	$1.2M	100x	as long as short
Extended MORPHO-USD	−0.101%	−0.0008%	1h	$102K	$304K	10x	as long as short
Kraken Futures PF_MORPHOUSD	−0.097%	−0.0924%	1h	$93K	$174K	20x	as long as short
SoDEX MORPHO-USD	−0.096%	+0.0100%	1h	$23K	$2K	5x	as long as short
Binance MORPHOUSDT	−0.045%	−0.0004%	4h	$16.7M	$28.9M	75x	as long as short
Bitget MORPHOUSDT	−0.045%	+0.0100%	4h	$3.0M	$2.3M	75x	as long as short
Polymarket Perps MORPHO-USD	−0.045%	−0.0455%	1h	$27K	$2.8M	5x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.037%	−0.0820%	1h	$11K	$443	10x	as long as short
BingX MORPHO-USDT	−0.034%	+0.0100%	4h	—	$1.5M	—	as long as short

Show all 26 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Gate MORPHO_USDT	−0.026%	−0.0558%	4h	$764K	$539K	50x	as long as short
Orderly PERP_MORPHO_USDC	−0.026%	−0.0177%	4h	$10K	$34K	10x	as long as short
Reya MORPHORUSDPERP	−0.026%	−0.0004%	1h	$16	—	10x	as long as short
BloFin MORPHO-USDT	−0.019%	−0.0238%	4h	$673K	$222K	20x	as long as short
Bybit MORPHOUSDTshort	−0.015%	−0.0125%	4h	$8.9M	$10.7M	25x
Paradex MORPHO-USD-PERP	−0.005%	+0.0100%	8h	$5K	$3	5x	as long as short
Lighter MORPHOlong	0.000%	+0.0096%	1h	$318K	$364K	5x
OKX MORPHO-USDT-SWAP	+0.014%	+0.0100%	4h	$3.2M	$5.1M	20x	as long as short
KuCoin MORPHOUSDTM	+0.051%	+0.0100%	4h	$656K	$357K	50x	as long as short
Variational Omni MORPHO	+0.064%	+0.0100%	4h	$662K	$1.4M	—	as long as short
Coinbase International MORPHO-PERP-INTX	+0.070%	−0.0336%	1h	$79K	$49K	25x	as long as short
GMX MORPHO/USD [ETH-USDC]	+0.080%	L +0.0197% / S −0.0897%	1h	$2K	—	100x	as long as short
Aster MORPHOUSDT	+0.096%	+0.0100%	4h	$59K	$32K	20x	as long as short
Hyperliquid MORPHO	+0.144%	+0.0100%	1h	$6.6M	$7.8M	5x	as long as short
Injective MORPHO/USDC PERP	+0.206%	+0.0033%	1h	$38	$34K	5.5x	as long as short
Phoenix MORPHO	+0.336%	−0.0059%	1h	$35K	$517K	5x	as long as short