Spread before costs (cost unknown: a leg has no order-book sample)+0.322%
7d average—if it closes, per $10,000$32funding while held, a day+$33.21
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | 01 Exchange MORPHOUSD | 2.7323 | −0.1136 | get 0.0142% / 1h | 15m 55s | $898 | $8K | 5x |
| Short | Phoenix MORPHO | 2.7411 | −0.0029 | pay 0.0004% / 1h | 15m 55s | $35K | $560K | 5x |
Phoenix MORPHOPrice 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
- $32.21
- Funding while held
- $33.21
- Slippage, 4 orders
- no order book: not counted
- Fee 01 Exchange: 3.5 bp × 2 orders
- −$7
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $51.42
- Spread needed to break even
- 0.140%
Slippage unknown: 01 Exchange: no order-book sample; Phoenix: live order book, 33 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.1107%
- Per $10,000 a day
- +$33.21
- 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 01 Exchange no order-book sample | — | — | — | — | — |
| Sell Phoenix live order book, 33 min ago | 1.09 bp | 12.9 bp −$13 | 44.5 bp −$445 | doesn't fit | doesn't fit |
01 Exchange: 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.Injective2.7130cheapestVariational Omni2.7333+0.747%BloFin2.7345+0.792%Paradex2.7369+0.882%Extended2.7378+0.916%Orderly2.7381+0.925%SoDEX2.7385+0.940%Reya2.7385+0.940%Deribit2.7388+0.951%Bybit2.7389+0.955%Polymarket Perps2.7392+0.966%BingX2.7395+0.977%OKX2.7396+0.980%Kraken Futures2.7400+0.996%MEXC2.7402+1.003%Coinbase International2.7402+1.003%Binance2.7404+1.008%Gate2.7411+1.036%
Injective
Variational Omni
BloFin
Paradex
Extended
Orderly
SoDEX
Reya
Deribit
Bybit
Polymarket Perps
BingX
OKX
Kraken Futures
MEXC
Coinbase International
Binance
GatePhoenix2.7411+1.036%
KuCoin2.7415+1.050%GMX2.7416+1.053%Lighter2.7418+1.061%Bitget2.7419+1.065%Aster2.7421+1.072%Hyperliquid2.7453+1.191%
KuCoin
GMX
Lighter
Bitget
Aster
HyperliquidMORPHO on 26 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective MORPHO/USDC PERP | −0.706% | +0.0033% | 1h | $38 | $85K | 5.5x | as long as short |
| 01 Exchange MORPHOUSDlong | 0.000% | −0.1136% | 1h | $898 | $8K | 5x | |
| Variational Omni MORPHO | +0.035% | +0.0073% | 4h | $669K | $1.4M | — | as long as short |
| BloFin MORPHO-USDT | +0.081% | −0.0200% | 4h | $688K | $249K | 20x | as long as short |
| Paradex MORPHO-USD-PERP | +0.170% | +0.0099% | 8h | $5K | $3 | 5x | as long as short |
| Extended MORPHO-USD | +0.203% | +0.0104% | 1h | $103K | $310K | 10x | as long as short |
| Orderly PERP_MORPHO_USDC | +0.212% | −0.0110% | 4h | $11K | $34K | 10x | as long as short |
| SoDEX MORPHO-USD | +0.227% | +0.0100% | 1h | $23K | $2K | 5x | as long as short |
| Reya MORPHORUSDPERP | +0.227% | −0.0004% | 1h | $16 | — | 10x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | +0.238% | −0.1208% | 1h | $11K | $443 | 10x | as long as short |
Show all 26 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Bybit MORPHOUSDT | +0.242% | −0.0122% | 4h | $9.1M | $11.3M | 25x | as long as short |
| Polymarket Perps MORPHO-USD | +0.253% | −0.0381% | 1h | $31K | $3.0M | 5x | as long as short |
| BingX MORPHO-USDT | +0.264% | +0.0100% | 4h | — | $1.5M | — | as long as short |
| OKX MORPHO-USDT-SWAP | +0.267% | +0.0100% | 4h | $3.2M | $5.8M | 20x | as long as short |
| Kraken Futures PF_MORPHOUSD | +0.283% | −0.0093% | 1h | $99K | $188K | 20x | as long as short |
| MEXC MORPHO_USDT | +0.289% | +0.0100% | 4h | $4.9M | $1.3M | 100x | as long as short |
| Coinbase International MORPHO-PERP-INTX | +0.289% | −0.0144% | 1h | $80K | $53K | 25x | as long as short |
| Binance MORPHOUSDT | +0.295% | +0.0100% | 4h | $16.9M | $31.0M | 75x | as long as short |
| Gate MORPHO_USDT | +0.322% | −0.0316% | 4h | $772K | $599K | 50x | as long as short |
| Phoenix MORPHOshort | +0.322% | −0.0029% | 1h | $35K | $560K | 5x | |
| KuCoin MORPHOUSDTM | +0.337% | +0.0100% | 4h | $663K | $378K | 50x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | +0.339% | L +0.0197% / S −0.0897% | 1h | $2K | — | 100x | as long as short |
| Lighter MORPHO | +0.347% | +0.0096% | 1h | $321K | $503K | 5x | as long as short |
| Bitget MORPHOUSDT | +0.351% | +0.0100% | 4h | $3.0M | $2.6M | 75x | as long as short |
| Aster MORPHOUSDT | +0.358% | +0.0100% | 4h | $60K | $34K | 20x | as long as short |
| Hyperliquid MORPHO | +0.476% | +0.0100% | 1h | $6.7M | $8.1M | 5x | as long as short |