Funding you earn now, next payment 07:00 UTC−0.0273%/8h= −29.9% APRnext payment −$0.34 per $10,000 · paid last 24h −0.011%
Price spread now: tradeXYZ against Extended−0.102%7-day average −0.004% · you buy dearer than you sell
Net, funding: paid 7d − costs−$60as in the Funding arb table
Net, price: spread back to 7d avg − costs−$60as in the Price arb table
costs, in and out, $10k−$500.504% of the position
Funding, last 7 days−0.098%−$10 on $10k
+Price spread, last 4 days (all we have)+0.056%+$6 · spread now −0.102%, 7d avg −0.004%
=Together, before fees−0.042%+ Points / potential airdropExtended: Active · tradeXYZ: Active · farm board−$4 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and tradeXYZ is 0.097% cheaper against Extended than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.004%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.098% in total (about -5.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.34 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended USDJPY-USD | 157.60 | −0.0008 | get 0.0001% / 1h | 52m 43s | $841K | $82K | 25x |
| Short | tradeXYZ xyz:JPY | 157.44 | −0.0281 | pay 0.0035% / 1h | 52m 43s | $29.3M | $3.1M | 50x |
Extended USDJPY-USD
tradeXYZ xyz:JPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ against Extended. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$57.38
- Price spread: −0.102% → −0.004%
- −$9.74
- Slippage, 4 orders
- −$27.35
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$117.47
- Costs to cover
- 0.504%
- Break-even
- never at this rate
Slippage from Extended: live order book, 55 min ago; tradeXYZ: live order book, 5 min ago.
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 Extended live order book, 55 min ago | 4.29 bp | 15.3 bp −$15 | 74.9 bp −$749 | doesn't fit | doesn't fit |
| Sell tradeXYZ live order book, 5 min ago | 0.63 bp | 10.8 bp −$11 | 15.0 bp −$150 | doesn't fit | doesn't fit |
USDJPY on 15 venues
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 | |
|---|---|---|---|---|---|---|---|---|
| tradeXYZ xyz:JPYshort | −0.0281% | 1h | 157.44 | −0.102% | $29.3M | $3.1M | 50x | |
| edgeX USDJPYUSDC | −0.0198% | 4h | 157.39 | −0.130% | $5K | $134K | 50x | as long as short |
| Hotstuff USDJPY-PERP | −0.0184% | 1h | 157.44 | −0.102% | $33K | — | 50x | as long as short |
| Ondo Perps USDJPY-USD.P | −0.0105% | 1h | 157.41 | −0.122% | $35K | $7K | 10x | as long as short |
| Lighter USDJPY | −0.0024% | 1h | 157.45 | −0.097% | $552K | $360K | 50x | as long as short |
| Nado USDJPY-PERP | −0.0016% | 1h | 157.62 | +0.012% | $98K | $7K | 40x | as long as short |
| Extended USDJPY-USDlong | −0.0008% | 1h | 157.60 | long leg | $841K | $82K | 25x | |
| Bybit USDJPYUSDT | 0.0000% | 8h | 157.29 | −0.195% | $281K | $172K | 100x | as long as short |
| Bitget USDJPYUSDT | 0.0000% | 8h | 157.42 | −0.114% | $574K | $175K | 100x | as long as short |
| Orderly PERP_USDJPY_USDC | 0.0000% | 8h | 157.57 | −0.019% | $25K | $52K | 50x | as long as short |
edgeX USDJPYUSDC
Hotstuff USDJPY-PERP
Ondo Perps USDJPY-USD.P
Lighter USDJPY
Nado USDJPY-PERP
Bybit USDJPYUSDT
Bitget USDJPYUSDT
Orderly PERP_USDJPY_USDCShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX USDJPY-USDT | 0.0000% | 1h | 157.39 | −0.133% | — | $2.4M | 10x | as long as short |
| HTX USDJPY-USDT | 0.0000% | 1h | 157.45 | −0.095% | $9K | $319K | 20x | as long as short |
| Pacifica USDJPY | +0.0100% | 1h | 157.33 | −0.173% | $95K | $63K | 50x | as long as short |
| Aevo USDJPY-PERP | +0.0104% | 1h | 157.36 | −0.154% | $25K | $500 | 10x | as long as short |
| Injective USDJPY/USDC PERP | +0.0186% | 1h | 157.66 | +0.041% | $40K | $72K | 101x | as long as short |
SunX USDJPY-USDT
HTX USDJPY-USDT
Pacifica USDJPY
Aevo USDJPY-PERP
Injective USDJPY/USDC PERP