Spread before costs (cost unknown: a leg has no order-book sample)−0.097%
7d average—if it closes, per $10,000$10funding while held, a day−$4.34
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_MORPHO_USDC | 2.6928 | −0.0207 | get 0.0104% / 4h | 1h 07m | $10K | $34K | 10x |
| Short | Coinbase International MORPHO-PERP-INTX | 2.6902 | −0.0352 | pay 0.0044% / 1h | 7m 04s | $78K | $47K | 25x |
Orderly PERP_MORPHO_USDC
Coinbase International MORPHO-PERP-INTXPrice 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
- −$9.66
- Funding while held
- −$4.34
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$30
- Spread needed to break even
- 0.160%
Slippage unknown: Orderly: no order-book sample; Coinbase International: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0145%
- Per $10,000 a day
- −$4.34
- 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 Coinbase International no order-book sample | — | — | — | — | — |
Orderly and Coinbase International: 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.Injective2.6760cheapestVariational Omni2.6881+0.453%Kraken Futures2.6890+0.486%
Injective
Variational Omni
Kraken FuturesCoinbase International2.6902+0.531%
BloFin2.6913+0.572%MEXC2.6926+0.620%Polymarket Perps2.6927+0.624%
BloFin
MEXC
Polymarket PerpsOrderly2.6928+0.628%
Extended2.6928+0.629%Binance2.6929+0.632%Paradex2.6929+0.633%01 Exchange2.6931+0.639%Bybit2.6935+0.654%SoDEX2.6935+0.654%Gate2.6937+0.661%Reya2.6938+0.665%OKX2.6939+0.669%Deribit2.6941+0.676%Bitget2.6943+0.684%GMX2.6948+0.701%BingX2.6950+0.710%Aster2.6953+0.723%KuCoin2.6957+0.736%Phoenix2.6968+0.777%Lighter2.6983+0.832%Hyperliquid2.6995+0.878%
Extended
Binance
Paradex
Bybit
SoDEX
Gate
Reya
OKX
Deribit
Bitget
GMX
BingX
Aster
KuCoin
Phoenix
Lighter
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 | −0.624% | +0.0033% | 1h | $37 | $39K | 5.5x | as long as short |
| Variational Omni MORPHO | −0.174% | +0.0034% | 4h | $652K | $1.4M | — | as long as short |
| Kraken Futures PF_MORPHOUSD | −0.141% | −0.2221% | 1h | $85K | $164K | 20x | as long as short |
| Coinbase International MORPHO-PERP-INTXshort | −0.097% | −0.0352% | 1h | $78K | $47K | 25x | |
| BloFin MORPHO-USDT | −0.056% | −0.0200% | 4h | $668K | $209K | 20x | as long as short |
| MEXC MORPHO_USDT | −0.007% | +0.0100% | 4h | $5.1M | $1.2M | 100x | as long as short |
| Polymarket Perps MORPHO-USD | −0.004% | −0.0210% | 1h | $24K | $2.2M | 5x | as long as short |
| Orderly PERP_MORPHO_USDClong | 0.000% | −0.0207% | 4h | $10K | $34K | 10x | |
| Extended MORPHO-USD | +0.001% | +0.0104% | 1h | $101K | $304K | 10x | as long as short |
| Binance MORPHOUSDT | +0.004% | +0.0100% | 4h | $16.6M | $27.1M | 75x | as long as short |