Funding you earn now, next payment 11:00 UTC−0.0800%/8h= −87.6% APRpaid last 24h −0.015%
Price spread now: Hotstuff against Orderly−0.038%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work against this trade now: funding costs −$24 a day on $10k at the current rate, and Hotstuff is 0.038% cheaper against Orderly than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_USDJPY_USDC | 157.06 | 0 | get 0.0000% / 8h | 5h 30m | $25K | $21K | 50x |
| Short | Hotstuff USDJPY-PERP | 157.00 | −0.0800 | pay 0.0100% / 1h | 30m 03s | $33K | — | 50x |
Orderly PERP_USDJPY_USDC
Hotstuff USDJPY-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hotstuff against Orderly. 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
- −$168
- Price spread: −0.038% → 0.000%
- −$3.82
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Hotstuff: 2.5 bp × 2 orders
- −$5
- Net
- −$182.82
- Costs to cover
- 0.110%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Hotstuff no order-book sample | — | — | — | — | — |
Orderly and 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 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff USDJPY-PERPshort | −0.0800% | 1h | 157.00 | −0.038% | $33K | — | 50x | |
| Bitget USDJPYUSDT | −0.0382% | 8h | 157.07 | +0.006% | $573K | $107K | 100x | as long as short |
| edgeX USDJPYUSDC | −0.0186% | 4h | 156.98 | −0.048% | $5K | $135K | 50x | as long as short |
| tradeXYZ xyz:JPY | −0.0161% | 1h | 156.99 | −0.045% | $29.7M | $3.3M | 50x | as long as short |
| Extended USDJPY-USD | −0.0136% | 1h | 157.06 | 0.000% | $847K | $96K | 25x | as long as short |
| Lighter USDJPY | −0.0080% | 1h | 156.90 | −0.100% | $582K | $380K | 50x | as long as short |
| Nado USDJPY-PERP | −0.0006% | 1h | 157.11 | +0.033% | $98K | $1K | 40x | as long as short |
| Bybit USDJPYUSDT | 0.0000% | 8h | 156.82 | −0.150% | $291K | $122K | 100x | as long as short |
| Orderly PERP_USDJPY_USDClong | 0.0000% | 8h | 157.06 | long leg | $25K | $21K | 50x | |
| SunX USDJPY-USDT | 0.0000% | 1h | 156.97 | −0.057% | — | $1.7M | 10x | as long as short |
Bitget USDJPYUSDT
edgeX USDJPYUSDC
tradeXYZ xyz:JPY
Extended USDJPY-USD
Lighter USDJPY
Nado USDJPY-PERP
Bybit USDJPYUSDT
SunX USDJPY-USDTShow all 15 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX USDJPY-USDT | 0.0000% | 1h | 156.99 | −0.045% | $9K | $309K | 20x | as long as short |
| Ondo Perps USDJPY-USD.P | +0.0050% | 1h | 156.96 | −0.062% | $35K | $4K | 10x | as long as short |
| Pacifica USDJPY | +0.0100% | 1h | 156.97 | −0.057% | $94K | $34K | 50x | as long as short |
| Aevo USDJPY-PERP | +0.0104% | 1h | 156.83 | −0.146% | $25K | $500 | 10x | as long as short |
| Injective USDJPY/USDC PERP | +0.0208% | 1h | 157.30 | +0.151% | $25K | $87K | 101x | as long as short |
HTX USDJPY-USDT
Ondo Perps USDJPY-USD.P
Pacifica USDJPY
Aevo USDJPY-PERP
Injective USDJPY/USDC PERP