USDJPY

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0112%/8h= −12.3% APRnext payment −$0.14 per $10,000 · paid last 24h +0.014%

Price spread now: Hotstuff against Lighter+0.034%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · Hotstuff: Active · farm boardneeds both histories

The price spread pays, funding is against you. Hotstuff is 0.034% dearer against Lighter than usual: you sell high and buy low (spread +0.034% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 24 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter USDJPY	157.56	−0.0064	get 0.0008% / 1h	22m 53s	$552K	$358K	50x
Short	Hotstuff USDJPY-PERP	157.61	−0.0176	pay 0.0022% / 1h	22m 53s	$33K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

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

Profit calculator

Position, each leg$Hold fordaysFee LighterbpFee HotstuffbpOrdersPrice spread, now +0.034%Rate

Funding earned: −$23.52
Price spread: +0.034% → 0.000%: $3.43
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$25.09
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 12 min ago; Hotstuff: no order-book sample. Net counts fees only.

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 Lighter live order book, 12 min ago	2.16 bp	2.6 bp −$3	7.8 bp −$78	40.0 bp −$4,003	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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.

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
Bitget USDJPYUSDT	−0.0393%	8h	157.43	−0.080%	$574K	$134K	100x	as long as short
tradeXYZ xyz:JPY	−0.0357%	1h	157.59	+0.022%	$29.4M	$3.0M	50x	as long as short
Hotstuff USDJPY-PERPshort	−0.0176%	1h	157.61	+0.034%	$33K	—	50x
Pacifica USDJPY	−0.0162%	1h	157.45	−0.070%	$95K	$63K	50x	as long as short
Ondo Perps USDJPY-USD.P	−0.0144%	1h	157.56	+0.003%	$35K	$4K	10x	as long as short
Extended USDJPY-USD	−0.0104%	1h	157.74	+0.117%	$842K	$82K	25x	as long as short
Lighter USDJPYlong	−0.0064%	1h	157.56	long leg	$552K	$358K	50x
edgeX USDJPYUSDC	−0.0052%	4h	157.58	+0.018%	$5K	$134K	50x	as long as short
Nado USDJPY-PERP	−0.0018%	1h	157.79	+0.147%	$98K	$7K	40x	as long as short
Bybit USDJPYUSDT	0.0000%	8h	157.27	−0.179%	$282K	$142K	100x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_USDJPY_USDC	0.0000%	8h	157.73	+0.110%	$25K	$52K	50x	as long as short
SunX USDJPY-USDT	0.0000%	1h	157.58	+0.015%	—	$2.4M	10x	as long as short
HTX USDJPY-USDT	0.0000%	1h	157.63	+0.047%	$9K	$316K	20x	as long as short
Aevo USDJPY-PERP	+0.0104%	1h	157.51	−0.032%	$25K	$500	10x	as long as short
Injective USDJPY/USDC PERP	+0.0148%	1h	157.79	+0.149%	$44K	$72K	101x	as long as short