JPY funding rates and arbitrage
Updated 2026-10-29 20:11 UTC
Best JPY arbitrage after every cost
No JPY pair nets a profit at this size right now.
At $10,000 per side, held 7 days, after taker fees, order-book slippage and carry.
JPY funding rate on every exchange
| Exchange | Contract | Rate | Every | Annualised | Settled 7d, annualised | Open interest | Next settlement |
|---|---|---|---|---|---|---|---|
| Hibachi | JPY/USDT-P | 0.0014% | 1 h | +12.3% | +10.8% | $12.8K | 2026-10-29 21:00 |
| Hyperliquid | xyz:JPY | -0.0003% | 1 h | −2.6% | −6.2% | $36.7M | 2026-10-29 21:00 |
| MEXC | JPY_USDT | -0.0145% | 4 h | −31.8% | +26.6% | $12.4M | 2026-10-30 00:00 |
| LBank | JPYUSDT | -0.0145% | 4 h | −31.8% | — | — | 2026-10-30 00:00 |
Cost to enter $10,000 of JPY
| Exchange | Contract | Fee + slippage | Source |
|---|---|---|---|
| Hyperliquid | xyz:JPY | 1.5 bp | top of book only |
| MEXC | JPY_USDT | 17.4 bp | top of book only |
Taker fee plus slippage of a market buy of $10,000 from the mid price, at standard (VIP0) fees.
Questions
Is JPY funding-rate arbitrage profitable right now?
Not at $10,000 per side for 7 days: no JPY pair shows a verified profit after fees and order-book slippage right now. Rates change every hour; the live page re-ranks continuously.
Which exchange has the highest JPY funding rate?
Hibachi at +12.3% a year (0.0014% every 1 h); the lowest is LBank at −31.8%. A positive rate is paid by longs to shorts, a negative one by shorts to longs.
The method behind every number on AfterFees is published; Pro opens each figure into its line-by-line calculation. Estimates from current data, not investment advice. We never hold funds or trade for you.