Spread before costs (cost unknown: a leg has no order-book sample)+0.258%
7d average—if it closes, per $10,000$26funding while held, a day−$2.11
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Paradex MORPHO-USD-PERP | 2.6923 | 0.0100 | pay 0.0100% / 8h | 4h 56m | $5K | $3 | 5x |
| Short | Phoenix MORPHO | 2.6992 | 0.0030 | get 0.0004% / 1h | 56m 20s | $35K | $473K | 5x |
Paradex MORPHO-USD-PERP
Phoenix MORPHOPrice 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
- $25.77
- Funding while held
- −$2.11
- Slippage, 4 orders
- no order book: not counted
- Fee Paradex: 2 bp × 2 orders
- −$4
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $12.66
- Spread needed to break even
- 0.110%
Slippage unknown: Paradex: no order-book sample; Phoenix: live order book, 38 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0070%
- Per $10,000 a day
- −$2.11
- 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 Phoenix live order book, 38 min ago | 1.12 bp | 12.9 bp −$13 | 44.5 bp −$445 | 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.Injective2.6760cheapest01 Exchange2.6906+0.546%Polymarket Perps2.6921+0.602%Extended2.6922+0.607%
Injective
Polymarket Perps
ExtendedParadex2.6923+0.608%
Orderly2.6923+0.609%Gate2.6924+0.613%SoDEX2.6925+0.617%Binance2.6926+0.621%Reya2.6927+0.623%Bitget2.6927+0.624%BingX2.6928+0.628%Kraken Futures2.6928+0.628%Bybit2.6930+0.635%MEXC2.6934+0.650%Aster2.6934+0.651%Deribit2.6936+0.658%BloFin2.6941+0.676%OKX2.6947+0.699%KuCoin2.6949+0.706%GMX2.6951+0.715%Variational Omni2.6976+0.806%Lighter2.6987+0.848%
Orderly
Gate
SoDEX
Binance
Reya
Bitget
BingX
Kraken Futures
Bybit
MEXC
Aster
Deribit
BloFin
OKX
KuCoin
GMX
Variational Omni
LighterPhoenix2.6992+0.867%
Hyperliquid2.6997+0.886%Coinbase International2.7014+0.949%
Hyperliquid
Coinbase InternationalMORPHO on 26 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective MORPHO/USDC PERP | −0.604% | −0.0114% | 1h | $37 | $39K | 5.5x | as long as short |
| 01 Exchange MORPHOUSD | −0.062% | −0.0520% | 1h | $884 | $12K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.006% | −0.0248% | 1h | $24K | $2.1M | 5x | as long as short |
| Extended MORPHO-USD | 0.000% | +0.0104% | 1h | $101K | $304K | 10x | as long as short |
| Paradex MORPHO-USD-PERPlong | 0.000% | +0.0100% | 8h | $5K | $3 | 5x | |
| Orderly PERP_MORPHO_USDC | +0.001% | −0.0211% | 4h | $10K | $34K | 10x | as long as short |
| Gate MORPHO_USDT | +0.005% | −0.0354% | 4h | $776K | $529K | 50x | as long as short |
| SoDEX MORPHO-USD | +0.009% | +0.0100% | 1h | $23K | $2K | 5x | as long as short |
| Binance MORPHOUSDT | +0.014% | +0.0100% | 4h | $16.6M | $27.0M | 75x | as long as short |
| Reya MORPHORUSDPERP | +0.016% | −0.0004% | 1h | $16 | — | 10x | as long as short |