FX Carry Trade Analysis
Compare overnight benchmark rates across 11 major currencies. Identify high-carry pairs and quantify the interest rate differential available on each trade.
| Long / Short | Carry | Bps | Long Rate | Short Rate |
|---|---|---|---|---|
|
🇦🇺 AUD
/
🇨🇭 CHF
|
+4.39% | 439 | 4.35% | -0.04% |
|
🇦🇺 AUD
/
🇧🇷 BRL
|
+4.30% | 430 | 4.35% | 0.05% |
|
🇺🇸 USD
/
🇨🇭 CHF
|
+3.94% | 394 | 3.90% | -0.04% |
|
🇺🇸 USD
/
🇧🇷 BRL
|
+3.85% | 385 | 3.90% | 0.05% |
|
🇬🇧 GBP
/
🇨🇭 CHF
|
+3.77% | 377 | 3.73% | -0.04% |
|
🇬🇧 GBP
/
🇧🇷 BRL
|
+3.68% | 368 | 3.73% | 0.05% |
|
🇳🇿 NZD
/
🇨🇭 CHF
|
+3.28% | 328 | 3.24% | -0.04% |
|
🇳🇿 NZD
/
🇧🇷 BRL
|
+3.19% | 319 | 3.24% | 0.05% |
|
🇦🇺 AUD
/
🇯🇵 JPY
|
+3.12% | 312 | 4.35% | 1.23% |
|
🇺🇸 USD
/
🇯🇵 JPY
|
+2.67% | 267 | 3.90% | 1.23% |
|
🇦🇺 AUD
/
🇸🇪 SEK
|
+2.67% | 267 | 4.35% | 1.68% |
|
🇬🇧 GBP
/
🇯🇵 JPY
|
+2.50% | 250 | 3.73% | 1.23% |
| Long ↓ / Short → | 🇦🇺 AUD | 🇺🇸 USD | 🇬🇧 GBP | 🇳🇿 NZD | 🇪🇺 EUR | 🇨🇦 CAD | 🇸🇪 SEK | 🇯🇵 JPY | 🇧🇷 BRL | 🇨🇭 CHF |
|---|---|---|---|---|---|---|---|---|---|---|
| 🇦🇺 AUD | — | +0.45% | +0.62% | +1.11% | +1.91% | +2.05% | +2.67% | +3.12% | +4.30% | +4.39% |
| 🇺🇸 USD | -0.45% | — | +0.17% | +0.66% | +1.46% | +1.60% | +2.22% | +2.67% | +3.85% | +3.94% |
| 🇬🇧 GBP | -0.62% | -0.17% | — | +0.49% | +1.29% | +1.43% | +2.05% | +2.50% | +3.68% | +3.77% |
| 🇳🇿 NZD | -1.11% | -0.66% | -0.49% | — | +0.80% | +0.94% | +1.56% | +2.01% | +3.19% | +3.28% |
| 🇪🇺 EUR | -1.91% | -1.46% | -1.29% | -0.80% | — | +0.14% | +0.76% | +1.21% | +2.39% | +2.48% |
| 🇨🇦 CAD | -2.05% | -1.60% | -1.43% | -0.94% | -0.14% | — | +0.62% | +1.07% | +2.25% | +2.34% |
| 🇸🇪 SEK | -2.67% | -2.22% | -2.05% | -1.56% | -0.76% | -0.62% | — | +0.45% | +1.63% | +1.72% |
| 🇯🇵 JPY | -3.12% | -2.67% | -2.50% | -2.01% | -1.21% | -1.07% | -0.45% | — | +1.18% | +1.27% |
| 🇧🇷 BRL | -4.30% | -3.85% | -3.68% | -3.19% | -2.39% | -2.25% | -1.63% | -1.18% | — | +0.09% |
| 🇨🇭 CHF | -4.39% | -3.94% | -3.77% | -3.28% | -2.48% | -2.34% | -1.72% | -1.27% | -0.09% | — |
Rate Source
Rates are the latest available overnight benchmark (SOFR, SONIA, €STR, SARON, CORRA, etc.) or central bank policy rate where an overnight benchmark is not available. Data is sourced from official central bank publications.
Carry Differential
Carry = Rate(Long) − Rate(Short). A positive value means you earn the differential by holding the long currency and funding in the short currency. Values are annualised percentages.
Basis Points
1 basis point (bp) = 0.01%. The carry shown in the matrix and trade list is the gross, pre-cost differential. Actual realised carry will be reduced by bid-ask spreads, rollover costs, and transaction fees.
FX Risk
Carry does not account for exchange-rate movements. An adverse FX move against the carry direction can easily exceed the interest income, resulting in a net loss. Carry trades should always be assessed alongside volatility and positioning data.