USDJPY

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0143%/8h= +15.6% APRnext payment +$0.18 per $10,000 · paid last 24h +0.010%

Price spread now: Extended against tradeXYZ+0.052%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$500.495% of the position

Long on tradeXYZ Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.097%+$10 on $10k

Price spread, last 4 days (all we have)−0.007%−$1 · spread now +0.052%, 7d avg +0.004%

Together, before fees+0.090%+ Points / potential airdroptradeXYZ: Active · Extended: Active · farm board+$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Extended is 0.048% dearer against tradeXYZ than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:JPY	157.38	−0.0111	get 0.0014% / 1h	25m 18s	$29.3M	$3.1M	50x
Short	Extended USDJPY-USD	157.46	0.0032	get 0.0004% / 1h	25m 18s	$841K	$82K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against tradeXYZ. 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 tradeXYZbpFee ExtendedbpOrdersPrice spread, now +0.052%Rate

Funding earned: $30
Price spread: +0.052% → +0.004%: $4.79
Slippage, 4 orders: −$26.54
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$14.75
Costs to cover: 0.495%
Break-even: 10.4 days

Slippage from tradeXYZ: live order book, 4 min ago; Extended: live order book, 23 min ago.

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 tradeXYZ live order book, 4 min ago	0.95 bp	11.6 bp −$12	13.6 bp −$136	15.0 bp −$1,496	doesn't fit
Sell Extended live order book, 23 min ago	4.29 bp	12.5 bp −$13	doesn't fit	doesn't fit	doesn't fit

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
Pacifica USDJPY	−0.0167%	1h	157.29	−0.057%	$95K	$63K	50x	as long as short
edgeX USDJPYUSDC	−0.0145%	4h	157.38	+0.003%	$5K	$134K	50x	as long as short
tradeXYZ xyz:JPYlong	−0.0111%	1h	157.38	long leg	$29.3M	$3.1M	50x
Lighter USDJPY	−0.0032%	1h	157.30	−0.050%	$552K	$365K	50x	as long as short
Nado USDJPY-PERP	−0.0008%	1h	157.51	+0.082%	$98K	$7K	40x	as long as short
Bybit USDJPYUSDT	0.0000%	8h	157.24	−0.087%	$281K	$182K	100x	as long as short
Hotstuff USDJPY-PERP	0.0000%	1h	157.38	0.000%	$33K	—	50x	as long as short
Bitget USDJPYUSDT	0.0000%	8h	157.43	+0.032%	$561K	$172K	100x	as long as short
Orderly PERP_USDJPY_USDC	0.0000%	8h	157.46	+0.051%	$25K	$52K	50x	as long as short
SunX USDJPY-USDT	0.0000%	1h	157.37	−0.006%	—	$2.4M	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX USDJPY-USDT	0.0000%	1h	157.36	−0.013%	$9K	$321K	20x	as long as short
Extended USDJPY-USDshort	+0.0032%	1h	157.46	+0.052%	$841K	$82K	25x
Ondo Perps USDJPY-USD.P	+0.0050%	1h	157.30	−0.048%	$35K	$7K	10x	as long as short
Aevo USDJPY-PERP	+0.0104%	1h	157.25	−0.085%	$25K	$500	10x	as long as short
Injective USDJPY/USDC PERP	+0.0166%	1h	157.54	+0.100%	$40K	$72K	101x	as long as short