MORPHO

Alert

Spread before costs (cost unknown: a leg has no order-book sample)+0.041%

7d average—if it closes, per $10,000$4funding while held, a day+$12.51

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps MORPHO-USD	2.7009	−0.0421	get 0.0053% / 1h	31m 40s	$27K	$2.7M	5x
Short	Reya MORPHORUSDPERP	2.7020	−0.0004	pay 0.0001% / 1h	31m 40s	$16	—	10x

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

Profit calculator

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

Spread captured: $4.12
Funding while held: $12.51
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Reya: 3 bp × 2 orders: −$6
Net: $2.63
Spread needed to break even: 0.140%

Slippage unknown: Polymarket Perps: live order book, 4 min ago; Reya: no order-book sample. Net counts fees only.

Cost of waiting

funding view

Funding /8h: +0.0417%
Per $10,000 a day: +$12.51
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 Polymarket Perps live order book, 4 min ago	2.03 bp	8.6 bp −$9	9.2 bp −$92	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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.

MORPHO on 26 venues

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
01 Exchange MORPHOUSD	−0.181%	−0.0928%	1h	$886	$11K	5x	as long as short
Kraken Futures PF_MORPHOUSD	−0.075%	−0.0926%	1h	$86K	$181K	20x	as long as short
Gate MORPHO_USDT	−0.011%	−0.0628%	4h	$765K	$541K	50x	as long as short
Polymarket Perps MORPHO-USDlong	0.000%	−0.0421%	1h	$27K	$2.7M	5x
Paradex MORPHO-USD-PERP	+0.035%	+0.0100%	8h	$5K	$3	5x	as long as short
SoDEX MORPHO-USD	+0.041%	+0.0100%	1h	$23K	$2K	5x	as long as short
Reya MORPHORUSDPERPshort	+0.041%	−0.0004%	1h	$16	—	10x
Orderly PERP_MORPHO_USDC	+0.059%	−0.0185%	4h	$10K	$34K	10x	as long as short
KuCoin MORPHOUSDTM	+0.070%	+0.0100%	4h	$603K	$374K	50x	as long as short
BingX MORPHO-USDT	+0.078%	+0.0100%	4h	—	$1.5M	—	as long as short

Show all 26 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
MEXC MORPHO_USDT	+0.104%	0.0000%	4h	$4.8M	$1.2M	100x	as long as short
Deribit MORPHO_USDC-PERPETUAL	+0.104%	−0.0858%	1h	$11K	$443	10x	as long as short
BloFin MORPHO-USDT	+0.122%	−0.0003%	4h	$675K	$222K	20x	as long as short
Aster MORPHOUSDT	+0.123%	+0.0100%	4h	$59K	$31K	20x	as long as short
Bitget MORPHOUSDT	+0.126%	+0.0100%	4h	$3.0M	$2.2M	75x	as long as short
Extended MORPHO-USD	+0.130%	0.0000%	1h	$102K	$304K	10x	as long as short
Binance MORPHOUSDT	+0.163%	−0.0001%	4h	$16.7M	$28.6M	75x	as long as short
GMX MORPHO/USD [ETH-USDC]	+0.167%	L +0.0158% / S −0.0698%	1h	$2K	—	100x	as long as short
Phoenix MORPHO	+0.204%	−0.0059%	1h	$35K	$517K	5x	as long as short
Bybit MORPHOUSDT	+0.226%	−0.0153%	4h	$8.9M	$10.6M	25x	as long as short
Lighter MORPHO	+0.229%	+0.0096%	1h	$319K	$365K	5x	as long as short
OKX MORPHO-USDT-SWAP	+0.230%	+0.0100%	4h	$3.2M	$5.0M	20x	as long as short
Variational Omni MORPHO	+0.233%	+0.0100%	4h	$661K	$1.4M	—	as long as short
Coinbase International MORPHO-PERP-INTX	+0.285%	−0.0336%	1h	$78K	$49K	25x	as long as short
Hyperliquid MORPHO	+0.296%	+0.0100%	1h	$6.6M	$7.8M	5x	as long as short
Injective MORPHO/USDC PERP	+0.448%	+0.0033%	1h	$38	$34K	5.5x	as long as short