After costs, if the gap returns to its 7d average, $10k−$25
spread now−0.041%7d average−0.160%fees + slippage, in and out−$37spread needed0.373%
| 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 | 16m 33s | $35K | $478K | 5x |
| Short | MEXC MORPHO_USDT | 2.6868 | 0.0076 | get 0.0038% / 4h | 1h 16m | $4.9M | $1.2M | 100x |
Phoenix MORPHO
MEXC 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
- −$4.09
- Funding while held
- $3.18
- Slippage, 4 orders
- −$26.26
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee MEXC: 2 bp × 2 orders
- −$4
- Net
- −$38.18
- Spread needed to break even
- 0.373%
Slippage from Phoenix: live order book, 17 min ago; MEXC: live order book, 2 min ago.
Cost of waiting
funding view- Funding /8h
- +0.0106%
- Per $10,000 a day
- +$3.18
- 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, 17 min ago | 1.12 bp | 12.9 bp −$13 | 52.2 bp −$522 | doesn't fit | doesn't fit |
| Sell MEXC live order book, 2 min ago | 0.19 bp | 5.7 bp −$6 | 45.6 bp −$456 | 199.9 bp −$20.0K | 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 Futures2.6850+0.335%Orderly2.6862+0.381%Paradex2.6864+0.388%Extended2.6866+0.395%01 Exchange2.6866+0.396%Polymarket Perps2.6866+0.396%
Injective
Variational Omni
BloFin
Kraken Futures
Orderly
Paradex
Extended
Polymarket PerpsMEXC2.6868+0.404%
Gate2.6873+0.422%SoDEX2.6875+0.430%Reya2.6877+0.438%Binance2.6878+0.441%Deribit2.6878+0.441%
Gate
SoDEX
Reya
Binance
DeribitPhoenix2.6879+0.445%
Bitget2.6881+0.452%BingX2.6883+0.460%Aster2.6884+0.464%GMX2.6890+0.485%Bybit2.6890+0.486%KuCoin2.6896+0.508%OKX2.6907+0.549%Coinbase International2.6920+0.598%Lighter2.6921+0.601%Hyperliquid2.6942+0.680%
Bitget
BingX
Aster
GMX
Bybit
KuCoin
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 | −0.110% | −0.2225% | 1h | $85K | $165K | 20x | as long as short |
| Orderly PERP_MORPHO_USDC | −0.063% | −0.0210% | 4h | $10K | $34K | 10x | as long as short |
| Paradex MORPHO-USD-PERP | −0.056% | +0.0100% | 8h | $5K | $3 | 5x | as long as short |
| Extended MORPHO-USD | −0.050% | +0.0080% | 1h | $101K | $304K | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.048% | −0.0616% | 1h | $883 | $12K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.048% | −0.0259% | 1h | $24K | $2.4M | 5x | as long as short |
| MEXC MORPHO_USDTshort | −0.041% | +0.0076% | 4h | $4.9M | $1.2M | 100x |