Spread before costs (cost unknown: a leg has no order-book sample)+0.026%
7d average—if it closes, per $10,000$3funding while held, a day+$5.20
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_MORPHO_USDC | 2.7067 | −0.0177 | get 0.0089% / 4h | 2h 39m | $10K | $34K | 10x |
| Short | Binance MORPHOUSDT | 2.7074 | −0.0004 | pay 0.0002% / 4h | 2h 39m | $16.7M | $28.9M | 75x |
Orderly PERP_MORPHO_USDC
Binance MORPHOUSDTPrice 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
- $2.59
- Funding while held
- $5.2
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$8.21
- Spread needed to break even
- 0.160%
Slippage unknown: Orderly: no order-book sample; Binance: live order book, 3 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0173%
- Per $10,000 a day
- +$5.20
- 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Binance live order book, 3 min ago | 0.74 bp | 13.2 bp −$13 | 38.8 bp −$388 | doesn't fit | doesn't fit |
Orderly: 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.01 Exchange2.7016cheapestExtended2.7047+0.114%Kraken Futures2.7048+0.117%SoDEX2.7048+0.118%Polymarket Perps2.7062+0.170%Deribit2.7064+0.178%MEXC2.7066+0.185%Gate2.7067+0.189%
Extended
Kraken Futures
SoDEX
Polymarket Perps
Deribit
MEXC
GateOrderly2.7067+0.189%
Reya2.7067+0.189%BloFin2.7069+0.196%Bitget2.7072+0.207%Paradex2.7073+0.212%
Reya
BloFin
Bitget
ParadexBinance2.7074+0.215%
BingX2.7083+0.248%Lighter2.7090+0.272%Bybit2.7090+0.274%Aster2.7090+0.274%Variational Omni2.7091+0.279%OKX2.7093+0.285%Coinbase International2.7093+0.285%GMX2.7096+0.296%KuCoin2.7096+0.296%Hyperliquid2.7124+0.400%Injective2.7130+0.422%Phoenix2.7165+0.552%
BingX
Lighter
Bybit
Aster
Variational Omni
OKX
Coinbase International
GMX
KuCoin
Hyperliquid
Injective
PhoenixMORPHO on 26 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| 01 Exchange MORPHOUSD | −0.188% | −0.0968% | 1h | $888 | $11K | 5x | as long as short |
| Extended MORPHO-USD | −0.074% | −0.0008% | 1h | $102K | $304K | 10x | as long as short |
| Kraken Futures PF_MORPHOUSD | −0.071% | −0.0924% | 1h | $93K | $174K | 20x | as long as short |
| SoDEX MORPHO-USD | −0.070% | +0.0100% | 1h | $23K | $2K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.018% | −0.0455% | 1h | $27K | $2.8M | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.011% | −0.0820% | 1h | $11K | $443 | 10x | as long as short |
| MEXC MORPHO_USDT | −0.004% | −0.0004% | 4h | $4.8M | $1.2M | 100x | as long as short |
| Gate MORPHO_USDT | 0.000% | −0.0558% | 4h | $764K | $539K | 50x | as long as short |
| Orderly PERP_MORPHO_USDClong | 0.000% | −0.0177% | 4h | $10K | $34K | 10x | |
| Reya MORPHORUSDPERP | 0.000% | −0.0004% | 1h | $16 | — | 10x | as long as short |