US Dollar / Japanese Yen (USDJPY) perpetual futures
5 tracked venues quote US Dollar / Japanese Yen perpetual contracts.
What the USDJPY data shows
Hyperliquid holds 97.8% of the $30.6m in reported USDJPY open interest. Extended is next with 2.2%.
Reported 24-hour USDJPY volume was $3.8m, which is 12.4% of the open interest.
Ostium quoted USDJPY at $157.85 and Lighter at $157.68, a gap of 11.0 bps.
Extended is the only venue in this read with a USDJPY funding rate: +3.50% a year.
- Source: public feeds of 5 tracked venues for USDJPY, read when this page was generated.
Where to Trade US Dollar / Japanese Yen (USDJPY) Perpetual Futures
Fees and leverage limits apply venue-wide; check USDJPY terms with the venue.
US Dollar / Japanese Yen (USDJPY) market overview
USD/JPY is the most traded dollar-yen pair and one of the most important carry trade vehicles in global forex markets.
USDJPY perpetual futures are driven by the interest rate differential between the US Federal Reserve and the Bank of Japan, with the BoJ's ultra-loose monetary policy historically making the yen the preferred funding currency for global carry trades.
Dollar-yen brings genuine macro exposure on-chain: the pair moves on Fed and Bank of Japan policy divergence. Whether the perp keeps trading through the FX weekend depends on the venue — some halt with the underlying, others quote a frozen oracle.
BoJ surprises have a history of landing outside US hours, so event risk concentrates into the reopen gap regardless.
Frequently Asked Questions — US Dollar / Japanese Yen (USDJPY)
What open interest data is available for USDJPY?
2 venues report positive USDJPY open interest in this read.
The USDJPY total leaves out venues outside the read.
How does an US Dollar / Japanese Yen perpetual futures contract differ from the underlying asset?
An US Dollar / Japanese Yen perpetual tracks the US Dollar / Japanese Yen price, with no expiry date and no ownership of US Dollar / Japanese Yen.
Check each venue for US Dollar / Japanese Yen trading hours and the price source.
Category: Forex