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Funding arb · Price arb /

USDJPY

RWAall USDJPY markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 10:00 UTC+0.0177%/8h= +19.3% APRnext payment +$0.22 per $10,000 · paid last 24h +0.050%
Price spread now: Injective against Nado−0.086%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on NadoShort on Injective
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 airdropNado: Active · farm boardneeds both histories
Funding pays, the price is against you. Injective is 0.086% cheaper against Nado than usual: you would sell low and buy high (spread −0.086% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 39 hours of funding at the current rate (+$5 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongNado USDJPY-PERP157.25−0.0017get 0.0002% / 1h54m 36s$98K$1K40x
ShortInjective USDJPY/USDC PERP157.120.0159get 0.0020% / 1h54m 36s$44K$78K101x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Injective against Nado. 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

Funding earned
$37.07
Price spread: −0.086% → 0.000%
−$8.6
Slippage, 4 orders
no order book: not counted
Fee Nado: 0.7 bp × 2 orders
−$1.4
Fee Injective: 0.01 bp × 2 orders
−$0.02
Net
$27.06
Costs to cover
0.014%
Break-even
1.9 days
Slippage unknown: Nado: no order-book sample; Injective: 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
LegHalf-spread$10k$100k$1M$5M
Buy Nado no order-book sample—————
Sell Injective no order-book sample—————
Nado and Injective: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget USDJPYUSDT−0.0623%8h157.24−0.009%$574K$108K100xas long as short
edgeX USDJPYUSDC−0.0179%4h157.08−0.108%$5K$134K50xas long as short
tradeXYZ xyz:JPY−0.0150%1h157.14−0.073%$29.4M$3.5M50xas long as short
Lighter USDJPY−0.0104%1h157.07−0.115%$552K$339K50xas long as short
Extended USDJPY-USD−0.0032%1h157.25−0.005%$847K$93K25xas long as short
Nado USDJPY-PERPlong−0.0017%1h157.25long leg$98K$1K40x
Bybit USDJPYUSDT0.0000%8h156.98−0.172%$282K$129K100xas long as short
Orderly PERP_USDJPY_USDC0.0000%8h157.24−0.009%$25K$52K50xas long as short
SunX USDJPY-USDT0.0000%1h157.09−0.104%—$2.0M10xas long as short
HTX USDJPY-USDT0.0000%1h156.93−0.206%$9K$312K20xas long as short
Show all 15 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Ondo Perps USDJPY-USD.P+0.0050%1h157.04−0.137%$35K$4K10xas long as short
Hotstuff USDJPY-PERP+0.0064%1h157.15−0.066%$33K—50xas long as short
Pacifica USDJPY+0.0100%1h157.08−0.113%$94K$34K50xas long as short
Aevo USDJPY-PERP+0.0104%1h156.98−0.172%$25K—10xas long as short
Injective USDJPY/USDC PERPshort+0.0159%1h157.12−0.086%$44K$78K101x