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US Dollar / Japanese Yen (USDJPY) Perpetual Futures

US Dollar / Japanese Yen (USDJPY) Perpetual Futures — Live Data

Price
$159.16
Total Open Interest
$19.6m
24h Volume
$4.2m
Venues
5

Where to Trade US Dollar / Japanese Yen (USDJPY) Perpetual Futures

US Dollar / Japanese Yen (USDJPY) perpetual futures are live on 5 venues. The venue cards compare open interest, 24h volume, and funding. The data updates every two minutes, and each card links directly to USDJPY trading.

Hyperliquid logo
Hyperliquid
Hyperliquid L1
Open Interest
$19.1m
24h Volume
$4.1m
Taker Fee
0.045%
Max Lev.
40x
Rating
9.2/10
Trade USDJPYReview
Extended logo
Extended
Starknet
Open Interest
$496.7k
24h Volume
$16.7k
Taker Fee
0.025%
Max Lev.
100x
Rating
7.0/10
Trade USDJPYReview
Gains Network logo
Gains Network
Arbitrum, Base, Polygon, ApeChain, MegaETH, Solana
Open Interest
—
24h Volume
—
Fee model
Position model
Max Lev.
1000x
Rating
8.0/10
Trade USDJPYReview
Lighter logo
Lighter
zkLighter
Open Interest
—
24h Volume
$9.4k
Taker Fee
0.000%
Max Lev.
50x
Rating
7.5/10
Trade USDJPYReview
Ostium logo
Ostium
Arbitrum
Open Interest
—
24h Volume
—
Fee model
Position model
Max Lev.
200x
Rating
7.5/10
Trade USDJPYReview

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.

Trading Tips for US Dollar / Japanese Yen Perps

USDJPY is the classic carry trade pair — it rises when global risk appetite is high and falls sharply during risk-off episodes as carry trades unwind. Bank of Japan intervention risk is real above 150 — always monitor BoJ official commentary for verbal intervention signals before sizing up USDJPY perp longs.

Frequently Asked Questions — US Dollar / Japanese Yen (USDJPY)

What is the current USDJPY perpetual futures funding rate?▼
The live US Dollar / Japanese Yen (USDJPY) funding-rate panel updates every 2 minutes. It shows annualized rates for each exchange that lists USDJPY perps. A positive rate means long traders pay short traders, while a negative rate means shorts pay longs.
Which exchange has the lowest USDJPY perp trading fees?▼
Among 2 tracked USDJPY venues with comparable order-book schedules, SynFutures lists the lowest taker fee at 0.020%. Extended lists 0.025%. 3 position-fee venues are excluded from this maker/taker result. Use the cost comparison for total cost.
How does US Dollar / Japanese Yen open interest compare across exchanges?▼
The US Dollar / Japanese Yen (USDJPY) open-interest chart shows the total value of outstanding USDJPY derivative contracts on each exchange. Rising open interest indicates new capital entering the market, while declining OI suggests positions are being closed.
What does the USDJPY long/short ratio indicate?▼
The US Dollar / Japanese Yen long/short ratio shows the balance between traders betting on price increases (longs) versus decreases (shorts) across exchanges. An extreme ratio in either direction can signal potential reversals as crowded positioning often leads to liquidation cascades.
How do USDJPY forex perps compare to spot forex trading?▼
USDJPY perpetual futures offer 24/7 trading without weekend gaps, leverage up to 1000x on some platforms, and no need for a traditional forex broker. Unlike spot forex, perps use a funding rate mechanism instead of swap rates. Trading costs on DEXes can be lower than traditional forex brokers, especially for smaller position sizes.
Where can I trade USDJPY perpetual futures?▼
US Dollar / Japanese Yen (USDJPY) perps are listed on 5 exchanges: Gains Network, SynFutures, Ostium, Avantis, and Extended. The "Where to Trade US Dollar / Japanese Yen (USDJPY) Perpetual Futures" section compares fees and leverage limits and gives a direct trading link for each venue.

Category: Forex · Data updates every 2 minutes · All rates shown are annualized

Funding RatesOpen InterestLiquidationsFee ComparisonExchange Deals

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