Spread before costs (cost unknown: a leg has no order-book sample)−0.015%
7d average—if it closes, per $10,000$2funding while held, a day−$7.26
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Reya MORPHORUSDPERP | 2.7374 | −0.0004 | get 0.0001% / 1h | 26m 26s | $16 | — | 10x |
| Short | Bybit MORPHOUSDT | 2.7370 | −0.0246 | pay 0.0123% / 4h | 3h 26m | $9.0M | $11.1M | 25x |
Reya MORPHORUSDPERP
Bybit MORPHOUSDTPrice 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
- −$1.5
- Funding while held
- −$7.26
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$25.76
- Spread needed to break even
- 0.170%
Slippage unknown: Reya: no order-book sample; Bybit: live order book, 3 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0242%
- Per $10,000 a day
- −$7.26
- 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 Reya no order-book sample | — | — | — | — | — |
| Sell Bybit live order book, 3 min ago | 5.48 bp | 23.1 bp −$23 | 75.4 bp −$754 | doesn't fit | doesn't fit |
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.Injective2.7130cheapest01 Exchange2.7332+0.745%Variational Omni2.7352+0.816%Gate2.7352+0.818%Paradex2.7359+0.843%Coinbase International2.7363+0.859%MEXC2.7364+0.863%Extended2.7367+0.873%BingX2.7367+0.874%Bitget2.7369+0.881%
Injective
Variational Omni
Gate
Paradex
Coinbase International
MEXC
Extended
BingX
BitgetBybit2.7370+0.885%
Polymarket Perps2.7371+0.888%Aster2.7374+0.899%
Polymarket Perps
AsterReya2.7374+0.900%
Binance2.7376+0.907%OKX2.7384+0.936%SoDEX2.7384+0.936%Lighter2.7385+0.939%Orderly2.7386+0.944%BloFin2.7389+0.955%Kraken Futures2.7399+0.992%Deribit2.7400+0.995%Phoenix2.7402+1.003%KuCoin2.7408+1.025%Hyperliquid2.7416+1.054%GMX2.7427+1.094%
Binance
OKX
SoDEX
Lighter
Orderly
BloFin
Kraken Futures
Deribit
Phoenix
KuCoin
Hyperliquid
GMXMORPHO on 26 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective MORPHO/USDC PERP | −0.892% | +0.0033% | 1h | $38 | $34K | 5.5x | as long as short |
| 01 Exchange MORPHOUSD | −0.154% | −0.0696% | 1h | $898 | $10K | 5x | as long as short |
| Variational Omni MORPHO | −0.083% | +0.0100% | 4h | $668K | $1.4M | — | as long as short |
| Gate MORPHO_USDT | −0.081% | −0.0458% | 4h | $767K | $574K | 50x | as long as short |
| Paradex MORPHO-USD-PERP | −0.056% | +0.0100% | 8h | $5K | $3 | 5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.041% | −0.0256% | 1h | $79K | $52K | 25x | as long as short |
| MEXC MORPHO_USDT | −0.037% | +0.0098% | 4h | $4.9M | $1.3M | 100x | as long as short |
| Extended MORPHO-USD | −0.027% | +0.0096% | 1h | $103K | $304K | 10x | as long as short |
| BingX MORPHO-USDT | −0.026% | +0.0100% | 4h | — | $1.5M | — | as long as short |
| Bitget MORPHOUSDT | −0.019% | +0.0100% | 4h | $3.0M | $2.6M | 75x | as long as short |
Show all 26 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Bybit MORPHOUSDTshort | −0.015% | −0.0246% | 4h | $9.0M | $11.1M | 25x | |
| Polymarket Perps MORPHO-USD | −0.011% | −0.0301% | 1h | $29K | $3.0M | 5x | as long as short |
| Aster MORPHOUSDT | 0.000% | +0.0100% | 4h | $60K | $34K | 20x | as long as short |
| Reya MORPHORUSDPERPlong | 0.000% | −0.0004% | 1h | $16 | — | 10x | |
| Binance MORPHOUSDT | +0.007% | +0.0100% | 4h | $16.9M | $30.4M | 75x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.036% | +0.0100% | 4h | $3.3M | $5.6M | 20x | as long as short |
| SoDEX MORPHO-USD | +0.036% | +0.0100% | 1h | $23K | $2K | 5x | as long as short |
| Lighter MORPHO | +0.039% | +0.0096% | 1h | $322K | $475K | 5x | as long as short |
| Orderly PERP_MORPHO_USDC | +0.043% | −0.0140% | 4h | $11K | $34K | 10x | as long as short |
| BloFin MORPHO-USDT | +0.054% | −0.0199% | 4h | $679K | $247K | 20x | as long as short |
| Kraken Futures PF_MORPHOUSD | +0.091% | −0.1050% | 1h | $100K | $183K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | +0.095% | −0.0844% | 1h | $11K | $443 | 10x | as long as short |
| Phoenix MORPHO | +0.102% | −0.0146% | 1h | $35K | $554K | 5x | as long as short |
| KuCoin MORPHOUSDTM | +0.124% | +0.0100% | 4h | $664K | $380K | 50x | as long as short |
| Hyperliquid MORPHO | +0.153% | +0.0127% | 1h | $6.7M | $8.2M | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | +0.193% | L +0.0197% / S −0.0897% | 1h | $2K | — | 100x | as long as short |