Fx Carry Trade Dashboard
Translate local treasury yields across 15 currencies into USD-equivalent returns by adjusting for 1-year FX movement, then stack them against on-chain USDC borrow costs on Aave and Morpho. Dial in LTV and loop count to see how leveraged carry scales.
Carry Trade Comparison
Estimates only — rates are approximate and not real-time. Assumes that the yield is held in local currency. Not financial advice
LTV90%
Loops1
Effective leverage: 1.90xUSDC Borrow: 
3.97%
4.85%
3.97%4.85%| Currency | Treasury Yield | Effective USD Return | Total Carry Return | Total Carry Return |
|---|---|---|---|---|
🇧🇷 BRL | 14.75% | +25.47% | +44.82% | +44.03% |
🇹🇷 TRY | 40.00% | +18.43% | +31.44% | +30.65% |
🇲🇽 MXN | 6.75% | +16.71% | +28.17% | +27.38% |
🇿🇦 ZAR | 6.75% | +16.00% | +26.83% | +26.04% |
🇦🇺 AUD | 4.10% | +12.72% | +20.60% | +19.81% |
🇳🇴 NOK | 4.00% | +9.88% | +15.19% | +14.40% |
🇸🇪 SEK | 1.75% | +2.79% | +1.72% | +0.93% |
🇨🇭 CHF | 0.00% | +2.76% | +1.67% | +0.89% |
🇬🇧 GBP | 3.75% | +2.53% | +1.23% | +0.44% |
🇪🇺 EUR | 1.90% | +2.46% | +1.10% | +0.31% |
🇨🇦 CAD | 2.30% | -0.06% | -3.70% | -4.49% |
🇳🇿 NZD | 2.25% | -1.16% | -5.78% | -6.57% |
🇹🇼 TWD | 0.83% | -4.92% | -12.92% | -13.71% |
🇮🇳 INR | 5.25% | -5.41% | -13.85% | -14.64% |
🇯🇵 JPY | 0.75% | -9.30% | -21.25% | -22.04% |
FX Performance against USD
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Treasury yields sourced from public central bank data (static MVP). Last updated: 2026-04-09.
USDC borrow rates fetched from Aave V3 and Morpho Blue APIs. Refreshed hourly.
FX rates from Yahoo Finance. Net carry = local treasury yield − USDC borrow rate.