Spread before costs (cost unknown: a leg has no order-book sample)−0.011%
7d average—if it closes, per $10,000$1funding while held, a day+$9.09
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_MORPHO_USDC | 2.6743 | −0.0203 | get 0.0102% / 4h | 2h 00m | $10K | $34K | 10x |
| Short | Bitget MORPHOUSDT | 2.6740 | 0.0100 | get 0.0050% / 4h | 2h 00m | $2.9M | $2.1M | 75x |
Orderly PERP_MORPHO_USDC
Bitget 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
- −$1.12
- Funding while held
- $9.09
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$10.03
- Spread needed to break even
- 0.180%
Slippage unknown: Orderly: no order-book sample; Bitget: live order book, 3 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0303%
- Per $10,000 a day
- +$9.09
- 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 Bitget live order book, 3 min ago | 4.50 bp | 18.6 bp −$19 | 74.7 bp −$747 | 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 Exchange2.6686cheapestCoinbase International2.6709+0.086%Phoenix2.6710+0.090%Gate2.6717+0.116%Polymarket Perps2.6724+0.142%KuCoin2.6725+0.146%Kraken Futures2.6732+0.172%Variational Omni2.6732+0.173%Aster2.6734+0.179%Extended2.6736+0.186%Paradex2.6736+0.189%
Coinbase International
Phoenix
Gate
Polymarket Perps
KuCoin
Kraken Futures
Variational Omni
Aster
Extended
ParadexBitget2.6740+0.202%
MEXC2.6742+0.210%Reya2.6743+0.213%
MEXC
ReyaOrderly2.6743+0.214%
Binance2.6743+0.215%BloFin2.6745+0.221%SoDEX2.6747+0.229%OKX2.6748+0.232%Bybit2.6752+0.247%Lighter2.6754+0.256%BingX2.6755+0.259%Deribit2.6756+0.262%GMX2.6771+0.319%Hyperliquid2.6788+0.382%Injective2.7130+1.664%
Binance
BloFin
SoDEX
OKX
Bybit
Lighter
BingX
Deribit
GMX
Hyperliquid
InjectiveMORPHO on 26 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| 01 Exchange MORPHOUSD | −0.213% | −0.0880% | 1h | $877 | $11K | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.127% | −0.0336% | 1h | $77K | $47K | 25x | as long as short |
| Phoenix MORPHO | −0.123% | −0.0059% | 1h | $34K | $517K | 5x | as long as short |
| Gate MORPHO_USDT | −0.097% | −0.0670% | 4h | $766K | $550K | 50x | as long as short |
| Polymarket Perps MORPHO-USD | −0.071% | −0.0472% | 1h | $27K | $2.7M | 5x | as long as short |
| KuCoin MORPHOUSDTM | −0.067% | +0.0100% | 4h | $595K | $346K | 50x | as long as short |
| Kraken Futures PF_MORPHOUSD | −0.042% | −0.0935% | 1h | $84K | $167K | 20x | as long as short |
| Variational Omni MORPHO | −0.040% | +0.0080% | 4h | $652K | $1.4M | — | as long as short |
| Aster MORPHOUSDT | −0.035% | +0.0100% | 4h | $58K | $31K | 20x | as long as short |
| Extended MORPHO-USD | −0.027% | +0.0008% | 1h | $101K | $304K | 10x | as long as short |
Show all 26 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Paradex MORPHO-USD-PERP | −0.025% | +0.0099% | 8h | $5K | $3 | 5x | as long as short |
| Bitget MORPHOUSDTshort | −0.011% | +0.0100% | 4h | $2.9M | $2.1M | 75x | |
| MEXC MORPHO_USDT | −0.004% | +0.0008% | 4h | $4.8M | $1.2M | 100x | as long as short |
| Reya MORPHORUSDPERP | −0.001% | −0.0004% | 1h | $16 | — | 10x | as long as short |
| Orderly PERP_MORPHO_USDClong | 0.000% | −0.0203% | 4h | $10K | $34K | 10x | |
| Binance MORPHOUSDT | +0.002% | +0.0009% | 4h | $16.5M | $27.5M | 75x | as long as short |
| BloFin MORPHO-USDT | +0.007% | −0.0231% | 4h | $668K | $205K | 20x | as long as short |
| SoDEX MORPHO-USD | +0.015% | +0.0100% | 1h | $22K | $2K | 5x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.019% | +0.0100% | 4h | $3.2M | $4.6M | 20x | as long as short |
| Bybit MORPHOUSDT | +0.034% | −0.0165% | 4h | $8.8M | $10.3M | 25x | as long as short |
| Lighter MORPHO | +0.042% | +0.0096% | 1h | $315K | $367K | 5x | as long as short |
| BingX MORPHO-USDT | +0.045% | +0.0100% | 4h | — | $1.5M | — | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | +0.049% | −0.1131% | 1h | $10K | $745 | 10x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | +0.105% | L +0.0158% / S −0.0698% | 1h | $2K | — | 100x | as long as short |
| Hyperliquid MORPHO | +0.168% | +0.0100% | 1h | $6.4M | $7.1M | 5x | as long as short |
| Injective MORPHO/USDC PERP | +1.447% | +0.0033% | 1h | $38 | $34K | 5.5x | as long as short |