Spread before costs (cost unknown: a leg has no order-book sample)−0.170%
7d average—if it closes, per $10,000$17funding while held, a day−$30.95
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Paradex MORPHO-USD-PERP | 2.6845 | 0.0099 | pay 0.0099% / 8h | 6h 18m | $5K | $3 | 5x |
| Short | Kraken Futures PF_MORPHOUSD | 2.6799 | −0.0932 | pay 0.0117% / 1h | 18m 16s | $85K | $176K | 20x |
Paradex MORPHO-USD-PERP
Kraken Futures PF_MORPHOUSDPrice 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
- −$17.01
- Funding while held
- −$30.95
- Slippage, 4 orders
- no order book: not counted
- Fee Paradex: 2 bp × 2 orders
- −$4
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$61.96
- Spread needed to break even
- 0.140%
Slippage unknown: Paradex: no order-book sample; Kraken Futures: live order book, 21 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.1032%
- Per $10,000 a day
- −$30.95
- 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 Paradex no order-book sample | — | — | — | — | — |
| Sell Kraken Futures live order book, 21 min ago | 17.85 bp | 73.3 bp −$73 | 165.5 bp −$1,655 | doesn't fit | doesn't fit |
Paradex: 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.Coinbase International2.6711cheapest
Coinbase InternationalKraken Futures2.6799+0.330%
01 Exchange2.6829+0.442%Gate2.6829+0.442%BloFin2.6835+0.464%KuCoin2.6840+0.483%SoDEX2.6843+0.494%
Gate
BloFin
KuCoin
SoDEXParadex2.6845+0.501%
Polymarket Perps2.6845+0.502%Extended2.6846+0.504%MEXC2.6847+0.509%Variational Omni2.6847+0.510%Binance2.6848+0.512%Orderly2.6848+0.513%Bitget2.6852+0.528%Reya2.6852+0.529%BingX2.6855+0.539%Deribit2.6856+0.543%Bybit2.6859+0.554%OKX2.6860+0.558%GMX2.6871+0.600%Lighter2.6872+0.603%Aster2.6875+0.615%Phoenix2.6889+0.666%Hyperliquid2.6894+0.685%Injective2.7130+1.569%
Polymarket Perps
Extended
MEXC
Variational Omni
Binance
Orderly
Bitget
Reya
BingX
Deribit
Bybit
OKX
GMX
Lighter
Aster
Phoenix
Hyperliquid
InjectiveMORPHO on 26 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Coinbase International MORPHO-PERP-INTX | −0.499% | −0.0336% | 1h | $77K | $48K | 25x | as long as short |
| Kraken Futures PF_MORPHOUSDshort | −0.170% | −0.0932% | 1h | $85K | $176K | 20x | |
| 01 Exchange MORPHOUSD | −0.059% | −0.0880% | 1h | $882 | $11K | 5x | as long as short |
| Gate MORPHO_USDT | −0.059% | −0.0656% | 4h | $767K | $547K | 50x | as long as short |
| BloFin MORPHO-USDT | −0.037% | −0.0152% | 4h | $675K | $218K | 20x | as long as short |
| KuCoin MORPHOUSDTM | −0.018% | +0.0100% | 4h | $597K | $373K | 50x | as long as short |
| SoDEX MORPHO-USD | −0.007% | +0.0100% | 1h | $22K | $2K | 5x | as long as short |
| Paradex MORPHO-USD-PERPlong | 0.000% | +0.0099% | 8h | $5K | $3 | 5x | |
| Polymarket Perps MORPHO-USD | 0.000% | −0.0434% | 1h | $28K | $2.7M | 5x | as long as short |
| Extended MORPHO-USD | +0.003% | 0.0000% | 1h | $101K | $304K | 10x | as long as short |