After costs, if the gap returns to its 7d average, $10k−$90
spread now+0.041%7d average−0.170%fees + slippage, in and out−$111spread needed1.112%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MORPHO | 2.6710 | −0.0059 | get 0.0007% / 1h | 59m 50s | $34K | $517K | 5x |
| Short | Gate MORPHO_USDT | 2.6721 | −0.0664 | pay 0.0332% / 4h | 1h 59m | $766K | $550K | 50x |
Phoenix MORPHO
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
- $4.12
- Funding while held
- −$18.16
- Slippage, 4 orders
- −$89.16
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$125.2
- Spread needed to break even
- 1.112%
Slippage from Phoenix: live order book, 39 min ago; Gate: live order book, 38 min ago.
Cost of waiting
funding view- Funding /8h
- −0.0605%
- Per $10,000 a day
- −$18.16
- 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, 39 min ago | 1.11 bp | 13.0 bp −$13 | 52.1 bp −$521 | doesn't fit | doesn't fit |
| Sell Gate live order book, 38 min ago | 7.77 bp | 46.7 bp −$47 | 204.6 bp −$2,046 | doesn't fit | doesn't fit |
MORPHO price on every exchange
against the cheapest. Click to use as the short leg.Kraken Futures2.6675cheapest01 Exchange2.6702+0.102%Coinbase International2.6709+0.128%
Kraken Futures
Coinbase InternationalPhoenix2.6710+0.132%
Gate2.6721+0.173%
KuCoin2.6728+0.200%Polymarket Perps2.6731+0.211%SoDEX2.6739+0.241%Bitget2.6740+0.245%Binance2.6740+0.245%Extended2.6741+0.250%Variational Omni2.6743+0.254%MEXC2.6745+0.263%BloFin2.6745+0.263%Orderly2.6746+0.267%Reya2.6747+0.270%Paradex2.6747+0.272%Aster2.6750+0.281%BingX2.6751+0.286%Deribit2.6751+0.286%Bybit2.6760+0.320%OKX2.6763+0.331%Lighter2.6764+0.335%GMX2.6766+0.342%Hyperliquid2.6784+0.409%Injective2.7130+1.707%
KuCoin
Polymarket Perps
SoDEX
Bitget
Binance
Extended
Variational Omni
MEXC
BloFin
Orderly
Reya
Paradex
Aster
BingX
Deribit
Bybit
OKX
Lighter
GMX
Hyperliquid
InjectiveMORPHO on 26 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Kraken Futures PF_MORPHOUSD | −0.132% | −0.0937% | 1h | $84K | $167K | 20x | as long as short |
| 01 Exchange MORPHOUSD | −0.030% | −0.0872% | 1h | $877 | $11K | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.004% | −0.0336% | 1h | $77K | $47K | 25x | as long as short |
| Phoenix MORPHOlong | 0.000% | −0.0059% | 1h | $34K | $517K | 5x | |
| Gate MORPHO_USDTshort | +0.041% | −0.0664% | 4h | $766K | $550K | 50x | |
| KuCoin MORPHOUSDTM | +0.067% | +0.0100% | 4h | $595K | $344K | 50x | as long as short |
| Polymarket Perps MORPHO-USD | +0.079% | −0.0472% | 1h | $27K | $2.7M | 5x | as long as short |
| SoDEX MORPHO-USD | +0.109% | +0.0100% | 1h | $22K | $2K | 5x | as long as short |
| Bitget MORPHOUSDT | +0.112% | +0.0100% | 4h | $2.9M | $2.1M | 75x | as long as short |
| Binance MORPHOUSDT | +0.113% | +0.0013% | 4h | $16.5M | $27.5M | 75x | as long as short |