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: 
4.07%
4.55%
4.07%4.55%| Currency | Treasury Yield | Effective USD Return | Total Carry Return | Total Carry Return |
|---|---|---|---|---|
🇹🇷 TRY | 40.00% | +19.29% | +33.00% | +32.56% |
🇧🇷 BRL | 14.75% | +18.67% | +31.81% | +31.37% |
🇲🇽 MXN | 6.75% | +16.82% | +28.29% | +27.85% |
🇿🇦 ZAR | 6.75% | +15.53% | +25.85% | +25.41% |
🇦🇺 AUD | 4.10% | +12.60% | +20.28% | +19.84% |
🇳🇴 NOK | 4.00% | +12.27% | +19.65% | +19.22% |
🇬🇧 GBP | 3.75% | +3.35% | +2.70% | +2.27% |
🇸🇪 SEK | 1.75% | +1.90% | -0.04% | -0.48% |
🇨🇦 CAD | 2.30% | +1.42% | -0.97% | -1.41% |
🇳🇿 NZD | 2.25% | +0.76% | -2.22% | -2.65% |
🇪🇺 EUR | 1.90% | +0.68% | -2.37% | -2.80% |
🇨🇭 CHF | 0.00% | -1.02% | -5.60% | -6.03% |
🇮🇳 INR | 5.25% | -3.55% | -10.41% | -10.84% |
🇹🇼 TWD | 0.83% | -5.67% | -14.44% | -14.88% |
🇯🇵 JPY | 0.75% | -6.96% | -16.88% | -17.31% |
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.