Spread before costs (cost unknown: a leg has no order-book sample)+0.165%
7d average—if it closes, per $10,000$16funding while held, a day+$4.73
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MORPHO | 2.7634 | −0.0058 | get 0.0007% / 1h | 9m 33s | $36K | $514K | 5x |
| Short | Aster MORPHOUSDT | 2.7680 | 0.0100 | get 0.0050% / 4h | 1h 09m | $60K | $34K | 20x |
Phoenix MORPHO
Aster MORPHOUSDTPrice 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
- $16.49
- Funding while held
- $4.73
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Aster: 4 bp × 2 orders
- −$8
- Net
- $6.22
- Spread needed to break even
- 0.150%
Slippage unknown: Phoenix: live order book, 45 min ago; Aster: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0158%
- Per $10,000 a day
- +$4.73
- 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 Phoenix live order book, 45 min ago | 1.09 bp | 12.9 bp −$13 | 52.2 bp −$522 | doesn't fit | doesn't fit |
| Sell Aster no order-book sample | — | — | — | — | — |
Aster: 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%BloFin2.7627+1.832%
Injective
Variational Omni
BloFinPhoenix2.7634+1.858%
KuCoin2.7643+1.891%Coinbase International2.7644+1.895%SoDEX2.7651+1.920%Deribit2.7651+1.920%Reya2.7651+1.921%Orderly2.7652+1.924%Gate2.7661+1.957%Binance2.7667+1.979%Polymarket Perps2.7667+1.979%Extended2.7669+1.986%Paradex2.7671+1.994%MEXC2.7673+2.001%Bitget2.7675+2.009%BingX2.7677+2.016%GMX2.7679+2.023%
KuCoin
Coinbase International
SoDEX
Deribit
Reya
Orderly
Gate
Binance
Polymarket Perps
Extended
Paradex
MEXC
Bitget
BingX
GMXAster2.7680+2.026%
Kraken Futures2.7683+2.038%OKX2.7685+2.046%Bybit2.7689+2.060%Lighter2.7713+2.147%Hyperliquid2.7744+2.263%
Kraken Futures
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 | −1.824% | +0.0033% | 1h | $38 | $137K | 5.5x | as long as short |
| Variational Omni MORPHO | −0.054% | +0.0100% | 4h | $674K | $1.4M | — | as long as short |
| BloFin MORPHO-USDT | −0.025% | −0.0200% | 4h | $687K | $257K | 20x | as long as short |
| Phoenix MORPHOlong | 0.000% | −0.0058% | 1h | $36K | $514K | 5x | |
| KuCoin MORPHOUSDTM | +0.033% | +0.0100% | 4h | $631K | $356K | 50x | as long as short |
| Coinbase International MORPHO-PERP-INTX | +0.036% | −0.0032% | 1h | $80K | $53K | 25x | as long as short |
| SoDEX MORPHO-USD | +0.062% | +0.0100% | 1h | $23K | $2K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | +0.062% | −0.1050% | 1h | $11K | $443 | 10x | as long as short |
| Reya MORPHORUSDPERP | +0.062% | −0.0004% | 1h | $17 | — | 10x | as long as short |
| Orderly PERP_MORPHO_USDC | +0.065% | −0.0069% | 4h | $11K | $34K | 10x | as long as short |
Show all 25 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Gate MORPHO_USDT | +0.098% | −0.0318% | 4h | $780K | $592K | 50x | as long as short |
| Binance MORPHOUSDT | +0.119% | +0.0100% | 4h | $16.9M | $30.2M | 75x | as long as short |
| Polymarket Perps MORPHO-USD | +0.119% | −0.0172% | 1h | $33K | $3.0M | 5x | as long as short |
| Extended MORPHO-USD | +0.126% | +0.0104% | 1h | $104K | $310K | 10x | as long as short |
| Paradex MORPHO-USD-PERP | +0.133% | +0.0100% | 8h | $5K | $3 | 5x | as long as short |
| MEXC MORPHO_USDT | +0.141% | +0.0100% | 4h | $4.9M | $1.3M | 100x | as long as short |
| Bitget MORPHOUSDT | +0.148% | +0.0100% | 4h | $3.0M | $2.6M | 75x | as long as short |
| BingX MORPHO-USDT | +0.156% | +0.0100% | 4h | — | $1.5M | — | as long as short |
| GMX MORPHO/USD [ETH-USDC] | +0.162% | L +0.0197% / S −0.0897% | 1h | $2K | — | 100x | as long as short |
| Aster MORPHOUSDTshort | +0.165% | +0.0100% | 4h | $60K | $34K | 20x | |
| Kraken Futures PF_MORPHOUSD | +0.177% | −0.0369% | 1h | $99K | $191K | 20x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.185% | +0.0100% | 4h | $3.3M | $5.8M | 20x | as long as short |
| Bybit MORPHOUSDT | +0.199% | −0.0119% | 4h | $9.0M | $11.0M | 25x | as long as short |
| Lighter MORPHO | +0.284% | +0.0096% | 1h | $326K | $475K | 5x | as long as short |
| Hyperliquid MORPHO | +0.398% | +0.0111% | 1h | $6.8M | $8.1M | 5x | as long as short |