Spread before costs (cost unknown: a leg has no order-book sample)+0.036%
7d average—if it closes, per $10,000$4funding while held, a day−$7.48
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_MORPHO_USDC | 2.7709 | −0.0069 | get 0.0034% / 4h | 1h 09m | $11K | $34K | 10x |
| Short | Gate MORPHO_USDT | 2.7719 | −0.0318 | pay 0.0159% / 4h | 1h 09m | $781K | $592K | 50x |
Orderly PERP_MORPHO_USDC
Gate MORPHO_USDTPrice 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
- $3.61
- Funding while held
- −$7.48
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$24.87
- Spread needed to break even
- 0.210%
Slippage unknown: Orderly: no order-book sample; Gate: live order book, 44 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0249%
- Per $10,000 a day
- −$7.48
- 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 Gate live order book, 44 min ago | 11.45 bp | 44.7 bp −$45 | 297.4 bp −$2,974 | 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.Injective2.7130cheapestVariational Omni2.7619+1.803%Phoenix2.7634+1.858%Paradex2.7671+1.994%KuCoin2.7691+2.068%Reya2.7691+2.068%BloFin2.7698+2.094%Polymarket Perps2.7700+2.101%Extended2.7706+2.124%
Injective
Variational Omni
Phoenix
Paradex
KuCoin
Reya
BloFin
Polymarket Perps
ExtendedOrderly2.7709+2.134%
MEXC2.7713+2.149%
MEXCGate2.7719+2.171%
Deribit2.7719+2.171%SoDEX2.7726+2.197%Bitget2.7727+2.201%Coinbase International2.7727+2.201%BingX2.7729+2.208%Binance2.7730+2.212%Kraken Futures2.7735+2.229%Aster2.7736+2.233%GMX2.7739+2.246%OKX2.7741+2.252%Bybit2.7744+2.263%Lighter2.7750+2.286%Hyperliquid2.7795+2.451%
Deribit
SoDEX
Bitget
Coinbase International
BingX
Binance
Kraken Futures
Aster
GMX
OKX
Bybit
Lighter
HyperliquidMORPHO on 25 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective MORPHO/USDC PERP | −2.090% | +0.0033% | 1h | $38 | $137K | 5.5x | as long as short |
| Variational Omni MORPHO | −0.325% | +0.0100% | 4h | $674K | $1.4M | — | as long as short |
| Phoenix MORPHO | −0.271% | −0.0058% | 1h | $36K | $514K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | −0.138% | +0.0100% | 8h | $5K | $3 | 5x | as long as short |
| KuCoin MORPHOUSDTM | −0.065% | +0.0100% | 4h | $632K | $356K | 50x | as long as short |
| Reya MORPHORUSDPERP | −0.065% | −0.0004% | 1h | $17 | — | 10x | as long as short |
| BloFin MORPHO-USDT | −0.040% | −0.0200% | 4h | $686K | $257K | 20x | as long as short |
| Polymarket Perps MORPHO-USD | −0.032% | −0.0172% | 1h | $33K | $3.0M | 5x | as long as short |
| Extended MORPHO-USD | −0.010% | +0.0104% | 1h | $104K | $310K | 10x | as long as short |
| Orderly PERP_MORPHO_USDClong | 0.000% | −0.0069% | 4h | $11K | $34K | 10x |
Show all 25 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| MEXC MORPHO_USDT | +0.014% | +0.0100% | 4h | $4.9M | $1.3M | 100x | as long as short |
| Gate MORPHO_USDTshort | +0.036% | −0.0318% | 4h | $781K | $592K | 50x | |
| Deribit MORPHO_USDC-PERPETUAL | +0.036% | −0.0795% | 1h | $11K | $443 | 10x | as long as short |
| SoDEX MORPHO-USD | +0.061% | +0.0100% | 1h | $23K | $2K | 5x | as long as short |
| Bitget MORPHOUSDT | +0.065% | +0.0100% | 4h | $3.0M | $2.6M | 75x | as long as short |
| Coinbase International MORPHO-PERP-INTX | +0.065% | −0.0032% | 1h | $81K | $53K | 25x | as long as short |
| BingX MORPHO-USDT | +0.072% | +0.0100% | 4h | — | $1.5M | — | as long as short |
| Binance MORPHOUSDT | +0.076% | +0.0100% | 4h | $16.9M | $30.2M | 75x | as long as short |
| Kraken Futures PF_MORPHOUSD | +0.093% | −0.0368% | 1h | $100K | $191K | 20x | as long as short |
| Aster MORPHOUSDT | +0.097% | +0.0100% | 4h | $61K | $34K | 20x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | +0.109% | L +0.0197% / S −0.0897% | 1h | $2K | — | 100x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.115% | +0.0100% | 4h | $3.3M | $5.8M | 20x | as long as short |
| Bybit MORPHOUSDT | +0.126% | −0.0119% | 4h | $9.0M | $11.0M | 25x | as long as short |
| Lighter MORPHO | +0.148% | +0.0096% | 1h | $326K | $475K | 5x | as long as short |
| Hyperliquid MORPHO | +0.310% | +0.0115% | 1h | $6.8M | $8.1M | 5x | as long as short |