Spread before costs (cost unknown: a leg has no order-book sample)+0.033%
7d average—if it closes, per $10,000$3funding while held, a day−$16.02
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MORPHO | 2.7351 | −0.0146 | get 0.0018% / 1h | 28m 10s | $35K | $554K | 5x |
| Short | 01 Exchange MORPHOUSD | 2.7360 | −0.0680 | pay 0.0085% / 1h | 28m 10s | $899 | $10K | 5x |
Phoenix MORPHOPrice 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
- $3.29
- Funding while held
- −$16.02
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee 01 Exchange: 3.5 bp × 2 orders
- −$7
- Net
- −$26.73
- Spread needed to break even
- 0.140%
Slippage unknown: Phoenix: live order book, 16 min ago; 01 Exchange: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0534%
- Per $10,000 a day
- −$16.02
- 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, 16 min ago | 1.09 bp | 12.9 bp −$13 | 52.0 bp −$520 | doesn't fit | doesn't fit |
| Sell 01 Exchange no order-book sample | — | — | — | — | — |
01 Exchange: 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.Injective2.7130cheapest
InjectivePhoenix2.7351+0.815%
Variational Omni2.7352+0.816%Coinbase International2.7363+0.859%Paradex2.7364+0.862%BloFin2.7366+0.870%Gate2.7370+0.885%SoDEX2.7372+0.892%MEXC2.7376+0.907%Orderly2.7382+0.929%Deribit2.7383+0.933%Extended2.7384+0.936%Binance2.7385+0.940%Kraken Futures2.7386+0.944%Polymarket Perps2.7387+0.947%Reya2.7391+0.961%Aster2.7395+0.977%OKX2.7397+0.984%KuCoin2.7398+0.988%Bitget2.7398+0.988%BingX2.7398+0.988%Bybit2.7400+0.995%Lighter2.7418+1.060%GMX2.7425+1.086%Hyperliquid2.7464+1.231%
Variational Omni
Coinbase International
Paradex
BloFin
Gate
SoDEX
MEXC
Orderly
Deribit
Extended
Binance
Kraken Futures
Polymarket Perps
Reya
Aster
OKX
KuCoin
Bitget
BingX
Bybit
Lighter
GMX
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 | −0.808% | +0.0033% | 1h | $38 | $34K | 5.5x | as long as short |
| Phoenix MORPHOlong | 0.000% | −0.0146% | 1h | $35K | $554K | 5x | |
| Variational Omni MORPHO | +0.002% | +0.0100% | 4h | $668K | $1.4M | — | as long as short |
| 01 Exchange MORPHOUSDshort | +0.033% | −0.0680% | 1h | $899 | $10K | 5x | |
| Coinbase International MORPHO-PERP-INTX | +0.044% | −0.0256% | 1h | $79K | $52K | 25x | as long as short |
| Paradex MORPHO-USD-PERP | +0.047% | +0.0100% | 8h | $5K | $3 | 5x | as long as short |
| BloFin MORPHO-USDT | +0.055% | −0.0200% | 4h | $678K | $247K | 20x | as long as short |
| Gate MORPHO_USDT | +0.069% | −0.0388% | 4h | $768K | $574K | 50x | as long as short |
| SoDEX MORPHO-USD | +0.077% | +0.0100% | 1h | $23K | $2K | 5x | as long as short |
| MEXC MORPHO_USDT | +0.091% | +0.0100% | 4h | $4.9M | $1.3M | 100x | as long as short |