MORPHO

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After costs, if the gap returns to its 7d average, $10k−$44

spread now+0.130%7d average+0.275%fees + slippage, in and out−$29spread needed0.291%

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC MORPHO_USDT	2.7505	0.0100	pay 0.0050% / 4h	6m 11s	$4.9M	$1.3M	100x
Short	Lighter MORPHO	2.7541	0.0096	get 0.0012% / 1h	6m 11s	$323K	$503K	5x

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 MEXCbpFee LighterbpOrdersClose when spread is

Slippage from MEXC: live order book, 3 min ago; Lighter: live order book, 35 min ago.

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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy MEXC live order book, 3 min ago	0.73 bp	6.2 bp −$6	26.6 bp −$266	171.4 bp −$17.1K	doesn't fit
Sell Lighter live order book, 35 min ago	2.73 bp	11.9 bp −$12	154.2 bp −$1,542	doesn't fit	doesn't fit

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Injective MORPHO/USDC PERP	−1.363%	+0.0033%	1h	$38	$85K	5.5x	as long as short
Variational Omni MORPHO	−0.186%	+0.0073%	4h	$670K	$1.4M	—	as long as short
Phoenix MORPHO	−0.164%	−0.0029%	1h	$35K	$560K	5x	as long as short
01 Exchange MORPHOUSD	−0.153%	−0.1120%	1h	$902	$8K	5x	as long as short
Gate MORPHO_USDT	−0.044%	−0.0288%	4h	$775K	$600K	50x	as long as short
KuCoin MORPHOUSDTM	−0.036%	+0.0100%	4h	$667K	$381K	50x	as long as short
BloFin MORPHO-USDT	−0.036%	−0.0200%	4h	$691K	$250K	20x	as long as short
Paradex MORPHO-USD-PERP	−0.030%	+0.0099%	8h	$5K	$3	5x	as long as short
SoDEX MORPHO-USD	−0.025%	+0.0100%	1h	$23K	$2K	5x	as long as short
Extended MORPHO-USD	−0.019%	+0.0104%	1h	$103K	$310K	10x	as long as short

Show all 26 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Orderly PERP_MORPHO_USDC	−0.011%	−0.0112%	4h	$11K	$34K	10x	as long as short
OKX MORPHO-USDT-SWAP	−0.004%	+0.0100%	4h	$3.3M	$5.8M	20x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.004%	−0.0144%	1h	$80K	$53K	25x	as long as short
MEXC MORPHO_USDTlong	0.000%	+0.0100%	4h	$4.9M	$1.3M	100x
Bitget MORPHOUSDT	+0.007%	+0.0100%	4h	$3.0M	$2.6M	75x	as long as short
Reya MORPHORUSDPERP	+0.008%	−0.0004%	1h	$17	—	10x	as long as short
Polymarket Perps MORPHO-USD	+0.015%	−0.0363%	1h	$29K	$3.0M	5x	as long as short
Bybit MORPHOUSDT	+0.018%	−0.0083%	4h	$9.1M	$11.3M	25x	as long as short
Binance MORPHOUSDT	+0.025%	+0.0100%	4h	$17.0M	$30.9M	75x	as long as short
BingX MORPHO-USDT	+0.029%	+0.0100%	4h	—	$1.5M	—	as long as short
Deribit MORPHO_USDC-PERPETUAL	+0.036%	−0.0875%	1h	$11K	$443	10x	as long as short
Kraken Futures PF_MORPHOUSD	+0.063%	−0.0093%	1h	$99K	$188K	20x	as long as short
Aster MORPHOUSDT	+0.099%	+0.0100%	4h	$60K	$34K	20x	as long as short
Lighter MORPHOshort	+0.130%	+0.0096%	1h	$323K	$503K	5x
GMX MORPHO/USD [ETH-USDC]	+0.139%	L +0.0197% / S −0.0897%	1h	$2K	—	100x	as long as short
Hyperliquid MORPHO	+0.294%	+0.0100%	1h	$6.7M	$8.1M	5x	as long as short