data as of
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Price arb /

MORPHO

all MORPHO markets
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

After costs, if the gap returns to its 7d average, $10k−$63
spread now−0.124%7d average+0.001%fees + slippage, in and out−$51spread needed0.506%
Long on Polymarket PerpsShort on BingX
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPolymarket Perps MORPHO-USD2.7422−0.0258get 0.0032% / 1h31m 28s$27K$3.0M5x
ShortBingX MORPHO-USDT2.73880.0100get 0.0050% / 4h3h 31m—$1.5M—

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
−$12.4
Funding while held
$10.75
Slippage, 4 orders
−$32.62
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Fee BingX: 5 bp × 2 orders
−$10
Net
−$52.26
Spread needed to break even
0.506%
Slippage from Polymarket Perps: live order book, 4 min ago; BingX: live order book, 7 min ago.

Cost of waiting

funding view
Funding /8h
+0.0358%
Per $10,000 a day
+$10.75
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Polymarket Perps live order book, 4 min ago2.56 bp8.7 bp −$99.3 bp −$93doesn't fitdoesn't fit
Sell BingX live order book, 7 min ago3.65 bp17.9 bp −$1838.8 bp −$388255.4 bp −$25.5K634.2 bp −$317.1K

MORPHO price on every exchange

against the cheapest. Click to use as the short leg.
Injective2.7130cheapestOrderly2.7329+0.734%BloFin2.7330+0.737%SoDEX2.7331+0.741%Deribit2.7336+0.759%Kraken Futures2.7347+0.801%Phoenix2.7351+0.815%Gate2.7361+0.851%GMX2.7363+0.858%Coinbase International2.7364+0.863%Variational Omni2.7369+0.881%01 Exchange2.7372+0.892%Aster2.7374+0.899%Extended2.7380+0.922%
BingX2.7388+0.951%
Paradex2.7393+0.970%Lighter2.7399+0.993%MEXC2.7422+1.076%KuCoin2.7422+1.076%
Polymarket Perps2.7422+1.076%
Binance2.7423+1.080%Reya2.7425+1.088%Bybit2.7426+1.091%OKX2.7426+1.091%Bitget2.7440+1.143%Hyperliquid2.7501+1.367%

MORPHO on 26 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective MORPHO/USDC PERP−1.065%+0.0033%1h$38$34K5.5xas long as short
Orderly PERP_MORPHO_USDC−0.339%−0.0135%4h$11K$34K10xas long as short
BloFin MORPHO-USDT−0.335%−0.0200%4h$677K$244K20xas long as short
SoDEX MORPHO-USD−0.332%+0.0100%1h$23K$2K5xas long as short
Deribit MORPHO_USDC-PERPETUAL−0.314%−0.0992%1h$11K$44310xas long as short
Kraken Futures PF_MORPHOUSD−0.273%−0.1052%1h$99K$183K20xas long as short
Phoenix MORPHO−0.259%−0.0146%1h$35K$554K5xas long as short
Gate MORPHO_USDT−0.222%−0.0322%4h$767K$574K50xas long as short
GMX MORPHO/USD [ETH-USDC]−0.216%L +0.0197% / S −0.0897%1h$2K—100xas long as short
Coinbase International MORPHO-PERP-INTX−0.212%−0.0256%1h$79K$52K25xas long as short
Show all 26 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Variational Omni MORPHO−0.193%+0.0100%4h$670K$1.4M—as long as short
01 Exchange MORPHOUSD−0.182%−0.0696%1h$899$10K5xas long as short
Aster MORPHOUSDT−0.175%+0.0100%4h$60K$34K20xas long as short
Extended MORPHO-USD−0.153%+0.0104%1h$103K$304K10xas long as short
BingX MORPHO-USDTshort−0.124%+0.0100%4h—$1.5M—
Paradex MORPHO-USD-PERP−0.105%+0.0100%8h$5K$35xas long as short
Lighter MORPHO−0.083%+0.0096%1h$321K$474K5xas long as short
MEXC MORPHO_USDT0.000%+0.0100%4h$4.9M$1.3M100xas long as short
KuCoin MORPHOUSDTM0.000%+0.0100%4h$664K$380K50xas long as short
Polymarket Perps MORPHO-USDlong0.000%−0.0258%1h$27K$3.0M5x
Binance MORPHOUSDT+0.004%+0.0100%4h$16.9M$30.5M75xas long as short
Reya MORPHORUSDPERP+0.012%−0.0004%1h$16—10xas long as short
Bybit MORPHOUSDT+0.015%+0.0081%4h$9.0M$11.2M25xas long as short
OKX MORPHO-USDT-SWAP+0.015%+0.0100%4h$3.3M$5.7M20xas long as short
Bitget MORPHOUSDT+0.066%+0.0100%4h$3.0M$2.6M75xas long as short
Hyperliquid MORPHO+0.288%+0.0132%1h$6.7M$8.1M5xas long as short