A hedging approach to FX Carry Trades using currency futures

If I long, say USD/JPY, for the interest differential
in 100X leverage SPOT FX, can I hedge it exactly by
shorting USD/JPY currency futures so I do not have
to worry about exchange fluctuations?

What's the catch/consideration in this approach??
:confused:
 
no, it's just the reverse position so this makes no sense. Read up on how futures are priced, intrest is calculated into them.
 
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