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: 
4.57%
5.01%
4.57%5.01%| Currency | Treasury Yield | Effective USD Return | Total Carry Return | Total Carry Return |
|---|---|---|---|---|
🇧🇷 BRL | 14.75% | +22.72% | +39.05% | +38.66% |
🇹🇷 TRY | 40.00% | +18.54% | +31.11% | +30.72% |
🇿🇦 ZAR | 6.75% | +12.62% | +19.86% | +19.47% |
🇦🇺 AUD | 4.10% | +11.34% | +17.42% | +17.03% |
🇳🇴 NOK | 4.00% | +11.29% | +17.34% | +16.95% |
🇲🇽 MXN | 6.75% | +7.11% | +9.40% | +9.01% |
🇬🇧 GBP | 3.75% | +3.21% | +1.99% | +1.60% |
🇨🇦 CAD | 2.30% | +1.55% | -1.17% | -1.57% |
🇳🇿 NZD | 2.25% | +1.35% | -1.55% | -1.95% |
🇪🇺 EUR | 1.90% | -1.49% | -6.95% | -7.34% |
🇸🇪 SEK | 1.75% | -2.67% | -9.18% | -9.57% |
🇮🇳 INR | 5.25% | -2.68% | -9.20% | -9.59% |
🇨🇭 CHF | 0.00% | -3.21% | -10.22% | -10.61% |
🇯🇵 JPY | 0.75% | -3.74% | -11.21% | -11.60% |
🇹🇼 TWD | 0.83% | -4.71% | -13.06% | -13.45% |
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.