Funding you earn now, next payment 09:00 UTC−0.0088%/8h= −9.6% APRpaid last 24h −0.055%
Price spread now: tradeXYZ against Orderly−0.044%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.747%+$75 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and tradeXYZ is 0.044% 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. Mind the row above: over the last 7 days funding on this pair paid +0.747%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_USDJPY_USDC | 157.71 | 0 | get 0.0000% / 8h | 7h 36m | $25K | $52K | 50x |
| Short | tradeXYZ xyz:JPY | 157.64 | −0.0088 | pay 0.0011% / 1h | 36m 47s | $29.5M | $3.2M | 50x |
Orderly PERP_USDJPY_USDC
tradeXYZ xyz:JPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ 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
- −$18.43
- Price spread: −0.044% → 0.000%
- −$4.44
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$46.87
- Costs to cover
- 0.240%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; tradeXYZ: live order book, 12 min ago. 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 tradeXYZ live order book, 12 min ago | 0.32 bp | 9.3 bp −$9 | 11.0 bp −$110 | doesn't fit | doesn't fit |
Orderly: 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 | −0.0640% | 8h | 157.43 | −0.178% | $574K | $135K | 100x | as long as short |
| edgeX USDJPYUSDC | −0.0134% | 4h | 157.65 | −0.039% | $5K | $134K | 50x | as long as short |
| tradeXYZ xyz:JPYshort | −0.0088% | 1h | 157.64 | −0.044% | $29.5M | $3.2M | 50x | |
| Lighter USDJPY | −0.0040% | 1h | 157.57 | −0.089% | $553K | $356K | 50x | as long as short |
| Nado USDJPY-PERP | −0.0017% | 1h | 157.76 | +0.033% | $98K | $1K | 40x | as long as short |
| Pacifica USDJPY | −0.0014% | 1h | 157.63 | −0.051% | $95K | $59K | 50x | as long as short |
| Bybit USDJPYUSDT | 0.0000% | 8h | 157.54 | −0.109% | $291K | $129K | 100x | as long as short |
| Orderly PERP_USDJPY_USDClong | 0.0000% | 8h | 157.71 | long leg | $25K | $52K | 50x | |
| SunX USDJPY-USDT | 0.0000% | 1h | 157.63 | −0.051% | — | $2.3M | 10x | as long as short |
| HTX USDJPY-USDT | 0.0000% | 1h | 157.62 | −0.057% | $9K | $315K | 20x | as long as short |
Bitget USDJPYUSDT
edgeX USDJPYUSDC
Lighter USDJPY
Nado USDJPY-PERP
Pacifica USDJPY
Bybit USDJPYUSDT
SunX USDJPY-USDT
HTX USDJPY-USDTShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended USDJPY-USD | +0.0032% | 1h | 157.71 | −0.001% | $843K | $82K | 25x | as long as short |
| Hotstuff USDJPY-PERP | +0.0040% | 1h | 157.64 | −0.044% | $33K | — | 50x | as long as short |
| Ondo Perps USDJPY-USD.P | +0.0050% | 1h | 157.57 | −0.086% | $35K | $4K | 10x | as long as short |
| Aevo USDJPY-PERP | +0.0104% | 1h | 157.51 | −0.128% | $25K | $500 | 10x | as long as short |
| Injective USDJPY/USDC PERP | +0.0136% | 1h | 157.80 | +0.055% | $44K | $72K | 101x | as long as short |
Extended USDJPY-USD
Hotstuff USDJPY-PERP
Ondo Perps USDJPY-USD.P
Aevo USDJPY-PERP
Injective USDJPY/USDC PERP