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Funding arb · Price arb /

DKNG

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 08:00 UTC−0.0353%/8h= −38.7% APRnext payment −$3.53 per $10,000 · paid last 24h −0.076%
Price spread now: OKX against Binance−0.046%7-day average −0.030% · you buy dearer than you sell
Net, funding: paid 7d − costs−$174as in the Funding arb table
Net, price: spread back to 7d avg − costs−$166as in the Price arb table
costs, in and out, $10k−$1641.642% of the position
Long on BinanceShort on OKX
What this pair did over the last
the charts below follow
Funding, last 7 days−0.096%−$10 on $10k
Price spread, last 2 days (all we have)+0.015%+$1 · spread now −0.046%, 7d avg −0.030%
Together, before fees−0.082%−$8 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.030%, so right now this pair is about funding alone: −$11 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.096% in total (about -5.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.53 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBinance DKNGUSDT22.0700.0439pay 0.0439% / 8h2h 50m$295K$633K20x
ShortOKX DKNG-USDT-SWAP22.0600.0086get 0.0086% / 8h2h 50m$114K$115K20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

OKX against Binance. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

click an exchange to add or hide it
latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
−$74.13
Price spread: −0.046% → −0.030%
−$1.56
Slippage, 4 orders
−$144.25
Fee Binance: 5 bp × 2 orders
−$10
Fee OKX: 5 bp × 2 orders
−$10
Net
−$239.93
Costs to cover
1.642%
Break-even
never at this rate
Slippage from Binance: live order book, 56 min ago; OKX: live order book, 59 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Binance live order book, 56 min ago4.52 bp22.2 bp −$22109.2 bp −$1,092doesn't fitdoesn't fit
Sell OKX live order book, 59 min ago4.53 bp51.6 bp −$52doesn't fitdoesn't fitdoesn't fit

DKNG on 12 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster DKNGUSDT0.0000%8h22.066−0.017%$1K$11K20xas long as short
Bybit DKNGUSDT0.0000%8h22.040−0.137%$77K$69K25xas long as short
Gate DKNG_USDT0.0000%8h22.109+0.176%$110K$7K20xas long as short
Bitget DKNGUSDT0.0000%8h22.054−0.073%$125K$68K20xas long as short
SunX DKNG-USDT0.0000%8h22.060−0.046%$1K$676K10xas long as short
HTX DKNG-USDT0.0000%8h22.060−0.046%$6K$4K10xas long as short
Injective DKNG/USDC PERP+0.0033%1h21.990−0.363%$707$6K12xas long as short
tradeXYZ xyz:DKNG+0.0050%1h22.101+0.140%$1.8M$2.1M10xas long as short
OKX DKNG-USDT-SWAPshort+0.0086%8h22.060−0.046%$114K$115K20x
KuCoin DKNGUSDTM+0.0237%8h22.080+0.045%$90K$382K20xas long as short
Show all 12 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Variational Omni DKNG+0.0363%8h22.066−0.018%$78K$51K—as long as short
Binance DKNGUSDTlong+0.0439%8h22.070long leg$295K$633K20x