Funding arb · Price arb /

DKNG

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0839%/8h= +91.9% APRpaid last 24h +0.022%

Price spread now: tradeXYZ against Bitget+0.127%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$113as in the Funding arb table

Net, price: spread back to 7d avg − costs−$118as in the Price arb table

costs, in and out, $10k−$1261.259% of the position

Long on Bitget Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.130%+$13 on $10k

Price spread, last 4 days (all we have)−0.273%−$27 · spread now +0.127%, 7d avg +0.043%

Together, before fees−0.142%+ Points / potential airdroptradeXYZ: Active · farm board−$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$25 a day on $10k at the current rate, and tradeXYZ is 0.084% dearer against Bitget than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.043%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.130% in total (about 6.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget DKNGUSDT	22.053	0	get 0.0000% / 8h	17m 23s	$123K	$108K	20x
Short	tradeXYZ xyz:DKNG	22.081	0.0839	get 0.0105% / 1h	17m 23s	$1.7M	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.127%Rate

Funding earned: $176.24
Price spread: +0.127% → +0.043%: $8.44
Slippage, 4 orders: −$95.94
Fee Bitget: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: $58.74
Costs to cover: 1.259%
Break-even: 4.7 days

Slippage from Bitget: live order book, 52 min ago; tradeXYZ: live order book, 10 min ago.

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, 52 min ago	12.47 bp	24.7 bp −$25	47.3 bp −$473	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 10 min ago	2.94 bp	18.8 bp −$19	25.4 bp −$254	doesn't fit	doesn't fit

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	22.046	−0.030%	$1K	$11K	20x	as long as short
Bybit DKNGUSDT	0.0000%	8h	22.060	+0.032%	$76K	$64K	25x	as long as short
Gate DKNG_USDT	0.0000%	8h	22.099	+0.209%	$121K	$3K	20x	as long as short
Bitget DKNGUSDTlong	0.0000%	8h	22.053	long leg	$123K	$108K	20x
SunX DKNG-USDT	0.0000%	8h	22.060	+0.032%	$962	$714K	10x	as long as short
HTX DKNG-USDT	0.0000%	8h	22.070	+0.077%	$6K	$3K	10x	as long as short
Injective DKNG/USDC PERP	+0.0033%	1h	21.990	−0.286%	$707	$6K	12x	as long as short
OKX DKNG-USDT-SWAP	+0.0163%	8h	22.080	+0.122%	$114K	$114K	20x	as long as short
tradeXYZ xyz:DKNGshort	+0.0839%	1h	22.081	+0.127%	$1.7M	$2.1M	10x
Variational Omni DKNG	+0.0843%	8h	22.067	+0.064%	$63K	$38K	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance DKNGUSDT	+0.0910%	8h	22.060	+0.032%	$257K	$634K	20x	as long as short
KuCoin DKNGUSDTM	+0.1233%	8h	22.090	+0.168%	$88K	$416K	20x	as long as short