Spread before costs (cost unknown: a leg has no order-book sample)−0.167%
7d average—if it closes, per $10,000$17funding while held, a day+$0.11
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MORPHO | 2.6941 | 0.0096 | pay 0.0012% / 1h | 15m 21s | $321K | $364K | 5x |
| Short | Paradex MORPHO-USD-PERP | 2.6896 | 0.0100 | get 0.0100% / 8h | 5h 15m | $5K | $3 | 5x |
Lighter MORPHO
Paradex MORPHO-USD-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
- −$16.68
- Funding while held
- $0.11
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Paradex: 2 bp × 2 orders
- −$4
- Net
- −$20.57
- Spread needed to break even
- 0.040%
Slippage unknown: Lighter: live order book, 11 min ago; Paradex: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0004%
- Per $10,000 a day
- +$0.11
- 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 Lighter live order book, 11 min ago | 3.94 bp | 25.0 bp −$25 | 171.6 bp −$1,716 | doesn't fit | doesn't fit |
| Sell Paradex no order-book sample | — | — | — | — | — |
Paradex: 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.Injective2.6760cheapestBloFin2.6841+0.303%Kraken Futures2.6862+0.380%SoDEX2.6875+0.430%Variational Omni2.6876+0.433%01 Exchange2.6877+0.437%Orderly2.6883+0.460%Polymarket Perps2.6885+0.467%Extended2.6886+0.469%Deribit2.6886+0.471%Gate2.6887+0.475%Binance2.6888+0.479%MEXC2.6889+0.482%BingX2.6894+0.501%Aster2.6895+0.506%Bitget2.6896+0.508%
Injective
BloFin
Kraken Futures
SoDEX
Variational Omni
Orderly
Polymarket Perps
Extended
Deribit
Gate
Binance
MEXC
BingX
Aster
BitgetParadex2.6896+0.509%
Reya2.6896+0.510%Phoenix2.6897+0.512%Bybit2.6900+0.523%OKX2.6906+0.546%GMX2.6906+0.547%KuCoin2.6907+0.549%Coinbase International2.6920+0.598%
Reya
Phoenix
Bybit
OKX
GMX
KuCoin
Coinbase InternationalLighter2.6941+0.677%
Hyperliquid2.6962+0.755%
HyperliquidMORPHO on 26 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective MORPHO/USDC PERP | −0.672% | +0.0033% | 1h | $37 | $39K | 5.5x | as long as short |
| BloFin MORPHO-USDT | −0.372% | −0.0153% | 4h | $665K | $208K | 20x | as long as short |
| Kraken Futures PF_MORPHOUSD | −0.295% | −0.2224% | 1h | $85K | $164K | 20x | as long as short |
| SoDEX MORPHO-USD | −0.245% | +0.0100% | 1h | $23K | $2K | 5x | as long as short |
| Variational Omni MORPHO | −0.242% | +0.0017% | 4h | $652K | $1.4M | — | as long as short |
| 01 Exchange MORPHOUSD | −0.238% | −0.0608% | 1h | $883 | $12K | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.216% | −0.0208% | 4h | $10K | $34K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.208% | −0.0249% | 1h | $24K | $2.2M | 5x | as long as short |
| Extended MORPHO-USD | −0.206% | +0.0088% | 1h | $101K | $304K | 10x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.205% | −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 | −0.201% | −0.0518% | 4h | $776K | $539K | 50x | as long as short |
| Binance MORPHOUSDT | −0.197% | +0.0086% | 4h | $16.5M | $27.2M | 75x | as long as short |
| MEXC MORPHO_USDT | −0.193% | +0.0080% | 4h | $5.0M | $1.2M | 100x | as long as short |
| BingX MORPHO-USDT | −0.175% | +0.0100% | 4h | — | $1.5M | — | as long as short |
| Aster MORPHOUSDT | −0.170% | +0.0100% | 4h | $59K | $33K | 20x | as long as short |
| Bitget MORPHOUSDT | −0.167% | +0.0100% | 4h | $3.0M | $2.1M | 75x | as long as short |
| Paradex MORPHO-USD-PERPshort | −0.167% | +0.0100% | 8h | $5K | $3 | 5x | |
| Reya MORPHORUSDPERP | −0.166% | −0.0004% | 1h | $16 | — | 10x | as long as short |
| Phoenix MORPHO | −0.164% | −0.0030% | 1h | $35K | $478K | 5x | as long as short |
| Bybit MORPHOUSDT | −0.153% | −0.0177% | 4h | $8.8M | $10.2M | 25x | as long as short |
| OKX MORPHO-USDT-SWAP | −0.130% | +0.0100% | 4h | $3.2M | $4.6M | 20x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | −0.129% | L +0.0158% / S −0.0698% | 1h | $2K | — | 100x | as long as short |
| KuCoin MORPHOUSDTM | −0.127% | +0.0100% | 4h | $601K | $342K | 50x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.078% | −0.0352% | 1h | $78K | $47K | 25x | as long as short |
| Lighter MORPHOlong | 0.000% | +0.0096% | 1h | $321K | $364K | 5x | |
| Hyperliquid MORPHO | +0.078% | +0.0100% | 1h | $6.4M | $7.1M | 5x | as long as short |