MORPHO

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After costs, if the gap returns to its 7d average, $10k−$28

spread now+0.210%7d average+0.102%fees + slippage, in and out−$38spread needed0.384%

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps MORPHO-USD	2.7684	−0.0095	get 0.0012% / 1h	0m 50s	$33K	$3.0M	5x
Short	Hyperliquid MORPHO	2.7742	0.1097	get 0.0137% / 1h	0m 50s	$6.7M	$7.9M	5x

Price spread history

latest

Range statsloading…

share of time at each level, last 7D

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Position, each leg$Hold forhoursFee Polymarket PerpsbpFee HyperliquidbpOrdersClose when spread is

Slippage from Polymarket Perps: live order book, 4 min ago; Hyperliquid: live order book, 3 min ago.

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Polymarket Perps live order book, 4 min ago	1.99 bp	9.0 bp −$9	9.8 bp −$98	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 3 min ago	1.80 bp	15.3 bp −$15	doesn't fit	doesn't fit	doesn't fit

against the cheapest. Click to use as the short leg.

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Injective MORPHO/USDC PERP	−2.001%	+0.0033%	1h	$38	$137K	5.5x	as long as short
Paradex MORPHO-USD-PERP	−0.168%	+0.0100%	8h	$5K	$3	5x	as long as short
01 Exchange MORPHOUSD	−0.123%	−0.0640%	1h	$909	$9K	5x	as long as short
Extended MORPHO-USD	−0.114%	+0.0104%	1h	$104K	$310K	10x	as long as short
Reya MORPHORUSDPERP	−0.109%	−0.0004%	1h	$17	—	10x	as long as short
Binance MORPHOUSDT	−0.078%	+0.0100%	4h	$16.9M	$29.6M	75x	as long as short
MEXC MORPHO_USDT	−0.076%	+0.0100%	4h	$4.9M	$1.3M	100x	as long as short
SoDEX MORPHO-USD	−0.069%	+0.0100%	1h	$23K	$2K	5x	as long as short
Orderly PERP_MORPHO_USDC	−0.065%	−0.0032%	4h	$11K	$34K	10x	as long as short
OKX MORPHO-USDT-SWAP	−0.054%	+0.0100%	4h	$3.3M	$5.8M	20x	as long as short

Show all 26 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Bitget MORPHOUSDT	−0.043%	+0.0100%	4h	$3.0M	$2.5M	75x	as long as short
BloFin MORPHO-USDT	−0.040%	−0.0200%	4h	$688K	$250K	20x	as long as short
Deribit MORPHO_USDC-PERPETUAL	−0.029%	−0.1193%	1h	$11K	$443	10x	as long as short
BingX MORPHO-USDT	−0.022%	+0.0100%	4h	—	$1.5M	—	as long as short
Gate MORPHO_USDT	−0.018%	−0.0416%	4h	$768K	$574K	50x	as long as short
Phoenix MORPHO	−0.011%	0.0000%	1h	$35K	$501K	5x	as long as short
Polymarket Perps MORPHO-USDlong	0.000%	−0.0095%	1h	$33K	$3.0M	5x
Bybit MORPHOUSDT	+0.022%	−0.0045%	4h	$9.0M	$10.8M	25x	as long as short
KuCoin MORPHOUSDTM	+0.047%	+0.0100%	4h	$644K	$337K	50x	as long as short
GMX MORPHO/USD [ETH-USDC]	+0.050%	L +0.0191% / S −0.0633%	1h	$1K	—	100x	as long as short
Kraken Futures PF_MORPHOUSD	+0.056%	+0.0209%	1h	$98K	$196K	20x	as long as short
Aster MORPHOUSDT	+0.072%	+0.0100%	4h	$60K	$34K	20x	as long as short
Lighter MORPHO	+0.094%	+0.0096%	1h	$320K	$460K	5x	as long as short
Variational Omni MORPHO	+0.178%	+0.0100%	4h	$676K	$1.4M	—	as long as short
Hyperliquid MORPHOshort	+0.210%	+0.1097%	1h	$6.7M	$7.9M	5x
Coinbase International MORPHO-PERP-INTX	+0.387%	+0.0384%	1h	$81K	$53K	25x	as long as short