After costs, if the gap returns to its 7d average, $10k−$31
spread now+0.227%7d average+0.160%fees + slippage, in and out−$38spread needed0.379%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | MEXC MORPHO_USDT | 2.6931 | 0.0100 | pay 0.0050% / 4h | 55m 52s | $5.1M | $1.1M | 100x |
| Short | Phoenix MORPHO | 2.6992 | 0.0030 | get 0.0004% / 1h | 55m 52s | $35K | $473K | 5x |
MEXC MORPHO_USDT
Phoenix 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
- $22.65
- Funding while held
- −$2.11
- Slippage, 4 orders
- −$26.85
- Fee MEXC: 2 bp × 2 orders
- −$4
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$17.31
- Spread needed to break even
- 0.379%
Slippage from MEXC: live order book, 3 min ago; Phoenix: live order book, 38 min ago.
Cost of waiting
funding view- Funding /8h
- −0.0070%
- Per $10,000 a day
- −$2.11
- 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 MEXC live order book, 3 min ago | 0.74 bp | 6.6 bp −$7 | 43.7 bp −$437 | 196.0 bp −$19.6K | doesn't fit |
| Sell Phoenix live order book, 38 min ago | 1.12 bp | 12.9 bp −$13 | 44.5 bp −$445 | doesn't fit | doesn't fit |
MORPHO price on every exchange
against the cheapest. Click to use as the short leg.Injective2.6760cheapestBinance2.6897+0.512%01 Exchange2.6906+0.546%Bybit2.6918+0.590%BingX2.6919+0.594%OKX2.6920+0.598%Extended2.6920+0.599%Polymarket Perps2.6921+0.602%Paradex2.6923+0.608%Orderly2.6923+0.609%Gate2.6924+0.613%SoDEX2.6925+0.617%Reya2.6927+0.623%Bitget2.6927+0.624%Kraken Futures2.6928+0.628%
Injective
Binance
Bybit
BingX
OKX
Extended
Polymarket Perps
Paradex
Orderly
Gate
SoDEX
Reya
Bitget
Kraken FuturesMEXC2.6931+0.639%
Aster2.6935+0.655%Deribit2.6936+0.658%BloFin2.6941+0.676%KuCoin2.6948+0.703%GMX2.6951+0.715%Lighter2.6953+0.720%Variational Omni2.6976+0.806%Hyperliquid2.6979+0.818%
Aster
Deribit
BloFin
KuCoin
GMX
Lighter
Variational Omni
HyperliquidPhoenix2.6992+0.867%
Coinbase International2.7014+0.949%
Coinbase InternationalMORPHO on 26 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective MORPHO/USDC PERP | −0.635% | −0.0114% | 1h | $37 | $39K | 5.5x | as long as short |
| Binance MORPHOUSDT | −0.126% | +0.0100% | 4h | $16.5M | $26.9M | 75x | as long as short |
| 01 Exchange MORPHOUSD | −0.093% | −0.0520% | 1h | $884 | $12K | 5x | as long as short |
| Bybit MORPHOUSDT | −0.048% | −0.0066% | 4h | $8.8M | $10.2M | 25x | as long as short |
| BingX MORPHO-USDT | −0.045% | +0.0100% | 4h | — | $1.5M | — | as long as short |
| OKX MORPHO-USDT-SWAP | −0.041% | +0.0100% | 4h | $3.2M | $4.6M | 20x | as long as short |
| Extended MORPHO-USD | −0.039% | +0.0104% | 1h | $101K | $304K | 10x | as long as short |
| Polymarket Perps MORPHO-USD | −0.037% | −0.0248% | 1h | $24K | $2.1M | 5x | as long as short |
| Paradex MORPHO-USD-PERP | −0.031% | +0.0100% | 8h | $5K | $3 | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.030% | −0.0211% | 4h | $10K | $34K | 10x | as long as short |
Show all 26 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | −0.026% | −0.0354% | 4h | $776K | $529K | 50x | as long as short |
| SoDEX MORPHO-USD | −0.022% | +0.0100% | 1h | $23K | $2K | 5x | as long as short |
| Reya MORPHORUSDPERP | −0.016% | −0.0004% | 1h | $16 | — | 10x | as long as short |
| Bitget MORPHOUSDT | −0.015% | +0.0100% | 4h | $3.0M | $2.0M | 75x | as long as short |
| Kraken Futures PF_MORPHOUSD | −0.011% | −0.1658% | 1h | $85K | $158K | 20x | as long as short |
| MEXC MORPHO_USDTlong | 0.000% | +0.0100% | 4h | $5.1M | $1.1M | 100x | |
| Aster MORPHOUSDT | +0.016% | +0.0100% | 4h | $59K | $33K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | +0.019% | −0.0863% | 1h | $11K | $745 | 10x | as long as short |
| BloFin MORPHO-USDT | +0.037% | −0.0200% | 4h | $667K | $209K | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.063% | +0.0100% | 4h | $602K | $315K | 50x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | +0.075% | L +0.0193% / S −0.0879% | 1h | $2K | — | 100x | as long as short |
| Lighter MORPHO | +0.081% | +0.0096% | 1h | $320K | $356K | 5x | as long as short |
| Variational Omni MORPHO | +0.166% | +0.0097% | 4h | $654K | $1.4M | — | as long as short |
| Hyperliquid MORPHO | +0.178% | +0.0650% | 1h | $6.4M | $7.2M | 5x | as long as short |
| Phoenix MORPHOshort | +0.227% | +0.0030% | 1h | $35K | $473K | 5x | |
| Coinbase International MORPHO-PERP-INTX | +0.308% | −0.0328% | 1h | $78K | $47K | 25x | as long as short |