Funding arb · Price arb /

USDJPY

RWAall USDJPY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.007%

Price spread now: Orderly against Pacifica+0.143%7-day average — · you sell dearer than you buy

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

Long on Pacifica Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.815%−$82 on $10k

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

Together, before fees—+ Points / potential airdropPacifica: Active · farm boardneeds both histories

The price spread pays, funding is against you. Orderly is 0.143% dearer against Pacifica than usual: you sell high and buy low (spread +0.143% now, against zero (this spread has no 7-day history yet)): +$14 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.8 days. At the pace of the last 7 days (−0.815% in total) that is about 29 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica USDJPY	157.39	0.0100	pay 0.0013% / 1h	7m 03s	$95K	$63K	50x
Short	Orderly PERP_USDJPY_USDC	157.62	0	get 0.0000% / 8h	1h 07m	$25K	$52K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Pacifica. 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 PacificabpFee OrderlybpOrdersPrice spread, now +0.143%Rate

Funding earned: −$21
Price spread: +0.143% → 0.000%: $14.31
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$20.69
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Pacifica: no order-book sample; Orderly: 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 Pacifica no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Pacifica and 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
tradeXYZ xyz:JPY	−0.0307%	1h	157.50	+0.067%	$29.3M	$3.1M	50x	as long as short
Bitget USDJPYUSDT	−0.0152%	8h	157.43	+0.022%	$574K	$153K	100x	as long as short
Hotstuff USDJPY-PERP	−0.0120%	1h	157.50	+0.067%	$33K	—	50x	as long as short
Ondo Perps USDJPY-USD.P	−0.0100%	1h	157.50	+0.070%	$35K	$7K	10x	as long as short
Lighter USDJPY	−0.0080%	1h	157.47	+0.049%	$552K	$360K	50x	as long as short
edgeX USDJPYUSDC	−0.0075%	4h	157.49	+0.061%	$5K	$134K	50x	as long as short
Extended USDJPY-USD	−0.0064%	1h	157.63	+0.148%	$842K	$82K	25x	as long as short
Nado USDJPY-PERP	−0.0017%	1h	157.67	+0.176%	$98K	$7K	40x	as long as short
Bybit USDJPYUSDT	0.0000%	8h	157.28	−0.075%	$282K	$158K	100x	as long as short
Orderly PERP_USDJPY_USDCshort	0.0000%	8h	157.62	+0.143%	$25K	$52K	50x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX USDJPY-USDT	0.0000%	1h	157.48	+0.054%	—	$2.4M	10x	as long as short
HTX USDJPY-USDT	0.0000%	1h	157.54	+0.092%	$9K	$317K	20x	as long as short
Pacifica USDJPYlong	+0.0100%	1h	157.39	long leg	$95K	$63K	50x
Aevo USDJPY-PERP	+0.0104%	1h	157.41	+0.012%	$25K	$500	10x	as long as short
Injective USDJPY/USDC PERP	+0.0186%	1h	157.70	+0.193%	$40K	$72K	101x	as long as short