Spread before costs (cost unknown: a leg has no order-book sample)+0.133%
7d average—if it closes, per $10,000$13funding while held, a day+$2.76
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MORPHO | 2.7094 | −0.0059 | get 0.0007% / 1h | 39m 31s | $35K | $517K | 5x |
| Short | Injective MORPHO/USDC PERP | 2.7130 | 0.0033 | get 0.0004% / 1h | 39m 31s | $38 | $34K | 5.5x |
Phoenix MORPHO
Injective MORPHO/USDC PERPPrice 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
- $13.29
- Funding while held
- $2.76
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $9.03
- Spread needed to break even
- 0.070%
Slippage unknown: Phoenix: live order book, 65 min ago; Injective: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0092%
- Per $10,000 a day
- +$2.76
- 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, 65 min ago | 1.09 bp | 12.9 bp −$13 | 52.0 bp −$520 | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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 Exchange2.7024cheapestKraken Futures2.7048+0.088%SoDEX2.7048+0.089%Deribit2.7064+0.148%MEXC2.7066+0.155%Gate2.7067+0.159%Orderly2.7067+0.159%Binance2.7069+0.167%BloFin2.7069+0.167%Extended2.7069+0.167%Polymarket Perps2.7073+0.181%Paradex2.7073+0.182%Bitget2.7075+0.189%Reya2.7082+0.213%BingX2.7083+0.218%Lighter2.7090+0.243%Variational Omni2.7091+0.250%OKX2.7093+0.255%Coinbase International2.7093+0.255%
Kraken Futures
SoDEX
Deribit
MEXC
Gate
Orderly
Binance
BloFin
Extended
Polymarket Perps
Paradex
Bitget
Reya
BingX
Lighter
Variational Omni
OKX
Coinbase InternationalPhoenix2.7094+0.259%
GMX2.7096+0.266%KuCoin2.7096+0.266%Bybit2.7100+0.281%Aster2.7103+0.292%
GMX
KuCoin
Bybit
AsterInjective2.7130+0.392%
Hyperliquid2.7136+0.414%
HyperliquidMORPHO on 26 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| 01 Exchange MORPHOUSD | −0.258% | −0.0968% | 1h | $888 | $11K | 5x | as long as short |
| Kraken Futures PF_MORPHOUSD | −0.171% | −0.0924% | 1h | $93K | $174K | 20x | as long as short |
| SoDEX MORPHO-USD | −0.170% | +0.0100% | 1h | $23K | $2K | 5x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.111% | −0.0820% | 1h | $11K | $443 | 10x | as long as short |
| MEXC MORPHO_USDT | −0.103% | −0.0004% | 4h | $4.8M | $1.2M | 100x | as long as short |
| Gate MORPHO_USDT | −0.100% | −0.0554% | 4h | $764K | $539K | 50x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.100% | −0.0177% | 4h | $10K | $34K | 10x | as long as short |
| Binance MORPHOUSDT | −0.092% | −0.0004% | 4h | $16.7M | $28.8M | 75x | as long as short |
| BloFin MORPHO-USDT | −0.092% | −0.0238% | 4h | $673K | $222K | 20x | as long as short |
| Extended MORPHO-USD | −0.092% | −0.0008% | 1h | $102K | $304K | 10x | as long as short |