MORPHO

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Spread before costs (cost unknown: a leg has no order-book sample)−0.083%

7d average+0.130%if it closes, per $10,000$8funding while held, a day−$4.15

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MORPHO	2.6732	0.0080	pay 0.0040% / 4h	2h 00m	$652K	$1.4M	—
Short	Phoenix MORPHO	2.6710	−0.0059	pay 0.0007% / 1h	0m 44s	$34K	$517K	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 Variational OmnibpFee PhoenixbpOrdersClose when spread is

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Phoenix: live order book, 38 min ago. Net counts fees only.

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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Variational Omni RFQ quote, 5 min ago	6.49 bp	doesn't fit	63.7 bp −$637	doesn't fit	doesn't fit
Sell Phoenix live order book, 38 min ago	1.11 bp	13.0 bp −$13	44.5 bp −$445	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
01 Exchange MORPHOUSD	−0.173%	−0.0880%	1h	$877	$11K	5x	as long as short
Coinbase International MORPHO-PERP-INTX	−0.087%	−0.0336%	1h	$77K	$47K	25x	as long as short
Phoenix MORPHOshort	−0.083%	−0.0059%	1h	$34K	$517K	5x
Gate MORPHO_USDT	−0.057%	−0.0670%	4h	$766K	$550K	50x	as long as short
Polymarket Perps MORPHO-USD	−0.031%	−0.0472%	1h	$27K	$2.7M	5x	as long as short
KuCoin MORPHOUSDTM	−0.027%	+0.0100%	4h	$595K	$346K	50x	as long as short
Kraken Futures PF_MORPHOUSD	−0.002%	−0.0935%	1h	$84K	$167K	20x	as long as short
Variational Omni MORPHOlong	0.000%	+0.0080%	4h	$652K	$1.4M	—
Aster MORPHOUSDT	+0.005%	+0.0100%	4h	$58K	$31K	20x	as long as short
Extended MORPHO-USD	+0.013%	+0.0008%	1h	$101K	$304K	10x	as long as short

Show all 26 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Paradex MORPHO-USD-PERP	+0.015%	+0.0099%	8h	$5K	$3	5x	as long as short
Bitget MORPHOUSDT	+0.029%	+0.0100%	4h	$2.9M	$2.1M	75x	as long as short
MEXC MORPHO_USDT	+0.036%	+0.0008%	4h	$4.8M	$1.2M	100x	as long as short
Reya MORPHORUSDPERP	+0.039%	−0.0004%	1h	$16	—	10x	as long as short
Orderly PERP_MORPHO_USDC	+0.040%	−0.0203%	4h	$10K	$34K	10x	as long as short
Binance MORPHOUSDT	+0.042%	+0.0009%	4h	$16.5M	$27.5M	75x	as long as short
BloFin MORPHO-USDT	+0.048%	−0.0231%	4h	$668K	$205K	20x	as long as short
SoDEX MORPHO-USD	+0.055%	+0.0100%	1h	$22K	$2K	5x	as long as short
OKX MORPHO-USDT-SWAP	+0.059%	+0.0100%	4h	$3.2M	$4.6M	20x	as long as short
Bybit MORPHOUSDT	+0.074%	−0.0165%	4h	$8.8M	$10.3M	25x	as long as short
Lighter MORPHO	+0.082%	+0.0096%	1h	$315K	$367K	5x	as long as short
BingX MORPHO-USDT	+0.085%	+0.0100%	4h	—	$1.5M	—	as long as short
Deribit MORPHO_USDC-PERPETUAL	+0.089%	−0.1131%	1h	$10K	$745	10x	as long as short
GMX MORPHO/USD [ETH-USDC]	+0.146%	L +0.0158% / S −0.0698%	1h	$2K	—	100x	as long as short
Hyperliquid MORPHO	+0.208%	+0.0100%	1h	$6.4M	$7.1M	5x	as long as short
Injective MORPHO/USDC PERP	+1.488%	+0.0033%	1h	$38	$34K	5.5x	as long as short