Funding you earn now, next payment 12:00 UTC−0.0215%/8h= −23.5% APRnext payment −$0.27 per $10,000 · paid last 24h −0.043%
Price spread now: tradeXYZ against Pacifica+0.025%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.069%−$7 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropPacifica: Active · tradeXYZ: Active · farm boardneeds both histories
The price spread pays, funding is against you. tradeXYZ is 0.025% dearer against Pacifica than usual: you sell high and buy low (spread +0.025% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 9 hours. At the pace of the last 7 days (−0.069% in total) that is about 2.6 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.069% in total (about -3.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.27 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Pacifica USDJPY | 157.06 | 0.0100 | pay 0.0013% / 1h | 44m 59s | $94K | $24K | 50x |
| Short | tradeXYZ xyz:JPY | 157.10 | −0.0115 | pay 0.0014% / 1h | 44m 59s | $29.7M | $3.3M | 50x |
Pacifica USDJPY
tradeXYZ xyz:JPYFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ against Pacifica. 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
- −$45.12
- Price spread: +0.025% → 0.000%
- $2.55
- Slippage, 4 orders
- no order book: not counted
- Fee Pacifica: 4 bp × 2 orders
- −$8
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$68.57
- Costs to cover
- 0.260%
- Break-even
- never at this rate
Slippage unknown: Pacifica: no order-book sample; tradeXYZ: live order book, 7 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 Pacifica no order-book sample | — | — | — | — | — |
| Sell tradeXYZ live order book, 7 min ago | 1.27 bp | 11.3 bp −$11 | 16.6 bp −$166 | doesn't fit | doesn't fit |
Pacifica: 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 | |
|---|---|---|---|---|---|---|---|---|
| Extended USDJPY-USD | −0.0272% | 1h | 157.18 | +0.079% | $849K | $89K | 25x | as long as short |
| Bitget USDJPYUSDT | −0.0262% | 8h | 157.16 | +0.064% | $574K | $107K | 100x | as long as short |
| Lighter USDJPY | −0.0216% | 1h | 156.98 | −0.052% | $603K | $388K | 50x | as long as short |
| tradeXYZ xyz:JPYshort | −0.0115% | 1h | 157.10 | +0.025% | $29.7M | $3.3M | 50x | |
| edgeX USDJPYUSDC | −0.0025% | 4h | 157.05 | −0.009% | $8K | $138K | 50x | as long as short |
| Nado USDJPY-PERP | −0.0017% | 1h | 157.23 | +0.107% | $98K | $1K | 40x | as long as short |
| Bybit USDJPYUSDT | 0.0000% | 8h | 156.89 | −0.109% | $291K | $123K | 100x | as long as short |
| Orderly PERP_USDJPY_USDC | 0.0000% | 8h | 157.17 | +0.070% | $24K | $21K | 50x | as long as short |
| SunX USDJPY-USDT | 0.0000% | 1h | 157.09 | +0.019% | — | $1.6M | 10x | as long as short |
| HTX USDJPY-USDT | 0.0000% | 1h | 156.94 | −0.076% | $9K | $308K | 20x | as long as short |
Extended USDJPY-USD
Bitget USDJPYUSDT
Lighter USDJPY
edgeX USDJPYUSDC
Nado USDJPY-PERP
Bybit USDJPYUSDT
Orderly PERP_USDJPY_USDC
SunX USDJPY-USDT
HTX USDJPY-USDTShow all 15 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Ondo Perps USDJPY-USD.P | +0.0050% | 1h | 157.01 | −0.030% | $35K | $4K | 10x | as long as short |
| Hotstuff USDJPY-PERP | +0.0072% | 1h | 157.07 | +0.006% | $33K | — | 50x | as long as short |
| Pacifica USDJPYlong | +0.0100% | 1h | 157.06 | long leg | $94K | $24K | 50x | |
| Aevo USDJPY-PERP | +0.0104% | 1h | 156.87 | −0.119% | $25K | $500 | 10x | as long as short |
| Injective USDJPY/USDC PERP | +0.0143% | 1h | 157.08 | +0.013% | $25K | $87K | 101x | as long as short |
Ondo Perps USDJPY-USD.P
Hotstuff USDJPY-PERP
Aevo USDJPY-PERP
Injective USDJPY/USDC PERP