Is this FX carry trade worth holding, and at which tenor?

Paste a currency pair's spot and forward points. Your browser works out which currency earns carry and how much at every tenor, carry-to-vol, the breakeven spot, how many standard deviations of cushion the carry buys, the covered interest parity check, what the risk reversals say and where spot sits in its history. All free, before you sign in. Then the desk reviews the trade like an FX strategist would, and every number it writes is checked against your sheet.

Each example comes with a saved review, so you can see the whole page for free. Example rates are illustrative, not market data.

Pair

Pair (base then quote)

Spot mid

Notional (base currency)

Spot bid (optional)

Spot ask (optional)

Target tenor

Forward column

Pip size

Forward curve (one tenor per line: tenor, forward points; optional ATM vol, 25d RR, 25d BF, base and quote deposit rates)

Tenors as 1W, 1M, 3M, 1Y. Vols, risk reversals and butterflies in vol points; deposit rates in percent. Columns split by spaces, commas, tabs or pipes; a header row names them in any order (points, outright, mid, or bid and ask, which are averaged; atm, rr25, bf25, the two currency codes for the rates, days); a dash leaves a cell empty; ON, TN and SN lines are skipped. Without a header the order is tenor, forward, vol, RR, BF, base rate, quote rate.

Spot history (optional: daily closes, one per line, with a date such as 2026-10-07, 10/07/2026 or 07-Oct-2026, or oldest first; a header picks the Close or PX_LAST column)

What you want to know (optional)

Drop a forward curve or a dated close history (.csv/.txt), or a pair .json saved from this page, or

The carry sheet (free, in your browser, no AI)

What the sheet found

Carry and implied vol by tenor

Carry profile

Tenor	Days	Fwd pts	Forward	Carry p.a.	Long	ATM vol	Carry/vol	Cushion sd	P(loss)	25d RR	25d BF	Skew

Covered interest parity

Tenor	Rates base / quote	Differential	CIP forward	Fwd vs CIP, pips	FX-implied base yield	Basis

Spot history

Measure	Value

Carry trades

Trade	Carry p.a.	Carry/vol	Breakeven	Earns if spot unchanged	P(loss)

Free: no account, no run.

Paste a pair and its forward points to price the review.

assessment

skew

stance

conviction

flags answered

statements checked

disagreements

The carry

Vol and skew

History

The trade

Alternatives weighed

Risks

Severity	Risk	Tenors	What to watch

Flags answered

Check before acting

Reconciliation with the sheet

Every number, tenor, currency and date, the assessment, the skew, the stance, the conviction, the alternatives and every flag the review wrote was checked against the sheet your browser computed. A disagreement means the review, not your sheet, is wrong.

Summary

Raw model reply

The reply did not parse as the structured result, so it is shown as it arrived.

Your recent reviews

What this does, and what it does not

Spot and forwards are quoted as units of the quote currency per one unit of the base. The forward is spot plus the points times the pip size. Annualised carry is the gap between forward and spot as a share of spot, times 365 over the days to delivery; the currency that earns it is the one trading at a forward discount. Holding the forward to delivery earns that gap if spot does not move, and loses only if spot ends beyond the forward, which is the breakeven. Carry-to-vol divides annualised carry by the ATM implied vol. The cushion is the log distance from spot to the breakeven in standard deviations of the implied distribution over the tenor, and the loss probability is the chance of ending past it under a driftless normal log return. With both deposit rates the page rebuilds the covered interest parity forward on each currency's money-market day basis and reports the FX-implied base yield and its basis to the quoted rate. The 25-delta risk reversal is read against the side that earns carry. With a daily close history it adds the 52-week range, realised vol (252-day annualised), the 63-close trend, moving averages and the worst drawdown for the carry side.

It does not know market levels, positioning, the policy path or history you did not paste, and the loss probability is a model figure, not a forecast. It ignores value dates and holidays (tenors use standard day counts unless you give a days column), the bid-ask on forward points and the cost of rolling. The review explains and challenges; it does not tell anyone to trade. Derived from the agent skill @anthropics/fx-carry-trade (anthropics/financial-services-plugins, Apache-2.0). The example rates are illustrative.