After costs, if the gap returns to its 7d average, $10k−$120
spread now+0.100%7d average−0.099%fees + slippage, in and out−$140spread needed1.399%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MORPHO | 2.6879 | −0.0030 | get 0.0004% / 1h | 15m 53s | $35K | $478K | 5x |
| Short | KuCoin MORPHOUSDTM | 2.6906 | 0.0100 | get 0.0050% / 4h | 1h 15m | $601K | $342K | 50x |
Phoenix MORPHO
KuCoin MORPHOUSDTMPrice 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
- $10.05
- Funding while held
- $3.9
- Slippage, 4 orders
- −$120.95
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$126.01
- Spread needed to break even
- 1.399%
Slippage from Phoenix: live order book, 18 min ago; KuCoin: live order book, 25 min ago.
Cost of waiting
funding view- Funding /8h
- +0.0130%
- Per $10,000 a day
- +$3.90
- 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, 18 min ago | 1.12 bp | 12.9 bp −$13 | 52.2 bp −$522 | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 25 min ago | 17.36 bp | 51.6 bp −$52 | 204.9 bp −$2,049 | doesn't fit | doesn't fit |
MORPHO price on every exchange
against the cheapest. Click to use as the short leg.Injective2.6760cheapestVariational Omni2.6761+0.004%BloFin2.6841+0.303%Kraken Futures2.6862+0.380%Paradex2.6864+0.388%01 Exchange2.6866+0.396%Orderly2.6870+0.411%SoDEX2.6875+0.430%Gate2.6876+0.433%
Injective
Variational Omni
BloFin
Kraken Futures
Paradex
Orderly
SoDEX
GatePhoenix2.6879+0.445%
Polymarket Perps2.6880+0.448%Aster2.6881+0.452%Deribit2.6886+0.471%BingX2.6888+0.478%Extended2.6891+0.490%Binance2.6891+0.491%Reya2.6893+0.498%MEXC2.6895+0.504%Bybit2.6900+0.523%GMX2.6900+0.525%Bitget2.6903+0.534%
Polymarket Perps
Aster
Deribit
BingX
Extended
Binance
Reya
MEXC
Bybit
GMX
BitgetKuCoin2.6906+0.546%
OKX2.6910+0.561%Coinbase International2.6920+0.598%Lighter2.6924+0.614%Hyperliquid2.6953+0.721%
OKX
Coinbase International
Lighter
HyperliquidMORPHO on 26 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective MORPHO/USDC PERP | −0.443% | +0.0033% | 1h | $37 | $39K | 5.5x | as long as short |
| Variational Omni MORPHO | −0.439% | 0.0000% | 4h | $654K | $1.4M | — | as long as short |
| BloFin MORPHO-USDT | −0.141% | −0.0153% | 4h | $665K | $208K | 20x | as long as short |
| Kraken Futures PF_MORPHOUSD | −0.064% | −0.2224% | 1h | $85K | $164K | 20x | as long as short |
| Paradex MORPHO-USD-PERP | −0.056% | +0.0100% | 8h | $5K | $3 | 5x | as long as short |
| 01 Exchange MORPHOUSD | −0.048% | −0.0616% | 1h | $883 | $12K | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.033% | −0.0209% | 4h | $10K | $34K | 10x | as long as short |
| SoDEX MORPHO-USD | −0.015% | +0.0100% | 1h | $23K | $2K | 5x | as long as short |
| Gate MORPHO_USDT | −0.011% | −0.0530% | 4h | $775K | $539K | 50x | as long as short |
| Phoenix MORPHOlong | 0.000% | −0.0030% | 1h | $35K | $478K | 5x |