Spread before costs (cost unknown: a leg has no order-book sample)+0.007%
7d average—if it closes, per $10,000$1funding while held, a day−$7.87
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_MORPHO_USDC | 2.7072 | −0.0180 | get 0.0090% / 4h | 2h 37m | $10K | $34K | 10x |
| Short | Polymarket Perps MORPHO-USD | 2.7074 | −0.0443 | pay 0.0055% / 1h | 37m 25s | $27K | $2.8M | 5x |
Orderly PERP_MORPHO_USDC
Polymarket Perps MORPHO-USDPrice 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
- $0.74
- Funding while held
- −$7.87
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$21.13
- Spread needed to break even
- 0.140%
Slippage unknown: Orderly: no order-book sample; Polymarket Perps: live order book, 3 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0262%
- Per $10,000 a day
- −$7.87
- 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 Polymarket Perps live order book, 3 min ago | 2.40 bp | 6.8 bp −$7 | 7.4 bp −$74 | 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 Exchange2.7034cheapestExtended2.7061+0.100%Gate2.7063+0.107%MEXC2.7063+0.107%Binance2.7067+0.122%
Extended
Gate
MEXC
BinanceOrderly2.7072+0.141%
Bitget2.7074+0.148%
BitgetPolymarket Perps2.7074+0.148%
Reya2.7082+0.178%Paradex2.7082+0.178%BingX2.7084+0.185%BloFin2.7085+0.189%Bybit2.7088+0.200%Variational Omni2.7091+0.213%OKX2.7092+0.215%Coinbase International2.7093+0.218%Lighter2.7094+0.220%Phoenix2.7094+0.222%Kraken Futures2.7094+0.223%KuCoin2.7104+0.259%Aster2.7105+0.262%SoDEX2.7106+0.266%Deribit2.7112+0.289%Injective2.7130+0.355%Hyperliquid2.7137+0.381%GMX2.7145+0.410%
Reya
Paradex
BingX
BloFin
Bybit
Variational Omni
OKX
Coinbase International
Lighter
Phoenix
Kraken Futures
KuCoin
Aster
SoDEX
Deribit
Injective
Hyperliquid
GMXMORPHO on 26 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| 01 Exchange MORPHOUSD | −0.140% | −0.0960% | 1h | $888 | $11K | 5x | as long as short |
| Extended MORPHO-USD | −0.040% | −0.0008% | 1h | $102K | $304K | 10x | as long as short |
| Gate MORPHO_USDT | −0.033% | −0.0560% | 4h | $765K | $540K | 50x | as long as short |
| MEXC MORPHO_USDT | −0.033% | −0.0008% | 4h | $4.8M | $1.2M | 100x | as long as short |
| Binance MORPHOUSDT | −0.018% | −0.0004% | 4h | $16.7M | $28.8M | 75x | as long as short |
| Orderly PERP_MORPHO_USDClong | 0.000% | −0.0180% | 4h | $10K | $34K | 10x | |
| Bitget MORPHOUSDT | +0.007% | +0.0100% | 4h | $3.0M | $2.2M | 75x | as long as short |
| Polymarket Perps MORPHO-USDshort | +0.007% | −0.0443% | 1h | $27K | $2.8M | 5x | |
| Reya MORPHORUSDPERP | +0.037% | −0.0004% | 1h | $16 | — | 10x | as long as short |
| Paradex MORPHO-USD-PERP | +0.037% | +0.0100% | 8h | $5K | $3 | 5x | as long as short |