USDJPY

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0111%/8h= −12.1% APRpaid last 24h −0.058%

Price spread now: tradeXYZ against Bybit+0.087%7-day average +0.106% · you sell dearer than you buy

Net, funding: paid 7d − costs−$126as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$1031.035% of the position

What this pair did over the last

the charts below follow

Funding, last 7 days−0.221%−$22 on $10k

Price spread, last 4 days (all we have)+0.136%+$14 · spread now +0.087%, 7d avg +0.106%

Together, before fees−0.084%+ Points / potential airdroptradeXYZ: Active · farm board−$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.106%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit USDJPYUSDT	157.24	0	get 0.0000% / 8h	2h 25m	$281K	$183K	100x
Short	tradeXYZ xyz:JPY	157.38	−0.0111	pay 0.0014% / 1h	25m 29s	$29.3M	$3.1M	50x

Funding history

latest

Range statsloading…

tradeXYZ against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Position, each leg$Hold fordaysFee BybitbpFee tradeXYZbpOrdersPrice spread, now +0.087%Rate

Slippage from Bybit: live order book, 5 min ago; tradeXYZ: live order book, 4 min ago.

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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Bybit live order book, 5 min ago	1.65 bp	9.2 bp −$9	38.8 bp −$388	43.1 bp −$4,312	doesn't fit
Sell tradeXYZ live order book, 4 min ago	0.95 bp	10.1 bp −$10	15.0 bp −$150	doesn't fit	doesn't fit

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica USDJPY	−0.0167%	1h	157.29	+0.030%	$95K	$63K	50x	as long as short
edgeX USDJPYUSDC	−0.0145%	4h	157.38	+0.090%	$5K	$134K	50x	as long as short
tradeXYZ xyz:JPYshort	−0.0111%	1h	157.38	+0.087%	$29.3M	$3.1M	50x
Lighter USDJPY	−0.0032%	1h	157.30	+0.038%	$552K	$365K	50x	as long as short
Nado USDJPY-PERP	−0.0008%	1h	157.51	+0.169%	$98K	$7K	40x	as long as short
Bybit USDJPYUSDTlong	0.0000%	8h	157.24	long leg	$281K	$183K	100x
Hotstuff USDJPY-PERP	0.0000%	1h	157.38	+0.087%	$33K	—	50x	as long as short
Bitget USDJPYUSDT	0.0000%	8h	157.43	+0.119%	$561K	$172K	100x	as long as short
Orderly PERP_USDJPY_USDC	0.0000%	8h	157.46	+0.138%	$25K	$52K	50x	as long as short
SunX USDJPY-USDT	0.0000%	1h	157.38	+0.087%	—	$2.4M	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX USDJPY-USDT	0.0000%	1h	157.41	+0.106%	$9K	$321K	20x	as long as short
Extended USDJPY-USD	+0.0032%	1h	157.47	+0.141%	$841K	$82K	25x	as long as short
Ondo Perps USDJPY-USD.P	+0.0050%	1h	157.30	+0.039%	$35K	$7K	10x	as long as short
Aevo USDJPY-PERP	+0.0104%	1h	157.25	+0.003%	$25K	$500	10x	as long as short
Injective USDJPY/USDC PERP	+0.0166%	1h	157.54	+0.188%	$40K	$72K	101x	as long as short