Funding arb · Price arb /

DKNG

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.010%

Price spread now: Injective against Bitget−0.556%101s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bitget Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Injective is 0.556% cheaper against Bitget than usual: you would sell low and buy high (spread −0.556% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$56 on $10k: about 56 days of funding at the current rate (+$1 a day). The two prices were read 101 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget DKNGUSDT	22.113	0	get 0.0000% / 8h	6h 49m	$124K	$67K	20x
Short	Injective DKNG/USDC PERP	21.990	0.0033	get 0.0004% / 1h	49m 40s	$707	$6K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Bitget. 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

Position, each leg$Hold fordaysFee BitgetbpFee InjectivebpOrdersPrice spread, now −0.556%Rate

Funding earned: $7
Price spread: −0.556% → 0.000%: −$55.62
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$60.64
Costs to cover: 0.120%
Break-even: 67.6 days

Slippage unknown: Bitget: live order book, 10 min ago; Injective: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Bitget live order book, 10 min ago	15.14 bp	27.3 bp −$27	41.1 bp −$411	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

DKNG on 12 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster DKNGUSDT	0.0000%	8h	22.098	−0.066%	$1K	$11K	20x	as long as short
Bybit DKNGUSDT	0.0000%	8h	22.080	−0.149%	$81K	$67K	25x	as long as short
Gate DKNG_USDT	0.0000%	8h	22.128	+0.068%	$110K	$5K	20x	as long as short
Bitget DKNGUSDTlong	0.0000%	8h	22.113	long leg	$124K	$67K	20x
SunX DKNG-USDT	0.0000%	8h	22.090	−0.104%	$1K	$682K	10x	as long as short
HTX DKNG-USDT	0.0000%	8h	22.050	−0.285%	$6K	$3K	10x	as long as short
Injective DKNG/USDC PERPshort	+0.0033%	1h	21.990	−0.556%	$707	$6K	12x
OKX DKNG-USDT-SWAP	+0.0276%	8h	22.060	−0.240%	$113K	$113K	20x	as long as short
tradeXYZ xyz:DKNG	+0.0296%	1h	22.105	−0.036%	$1.7M	$2.1M	10x	as long as short
Variational Omni DKNG	+0.0946%	8h	22.092	−0.097%	$78K	$51K	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance DKNGUSDT	+0.1008%	8h	22.091	−0.100%	$269K	$623K	20x	as long as short
KuCoin DKNGUSDTM	+0.1325%	8h	22.070	−0.194%	$90K	$412K	20x	as long as short