Funding arb · Price arb /

DKNG

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0361%/8h= +39.5% APRpaid last 24h +0.108%

Price spread now: tradeXYZ against Gate+0.118%7-day average −0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$165as in the Funding arb table

Net, price: spread back to 7d avg − costs−$167as in the Price arb table

costs, in and out, $10k−$1831.828% of the position

Long on Gate Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.181%+$18 on $10k

Price spread, last 4 days (all we have)−0.385%−$38 · spread now +0.118%, 7d avg −0.038%

Together, before fees−0.203%+ Points / potential airdroptradeXYZ: Active · farm board−$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and tradeXYZ is 0.156% dearer against Gate than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.038%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.181% in total (about 9.5% 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	Gate DKNG_USDT	22.083	0	get 0.0000% / 8h	4h 39m	$109K	$7K	20x
Short	tradeXYZ xyz:DKNG	22.109	0.0361	get 0.0045% / 1h	39m 15s	$1.8M	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against Gate. 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 GatebpFee tradeXYZbpOrdersPrice spread, now +0.118%Rate

Funding earned: $75.84
Price spread: +0.118% → −0.038%: $15.61
Slippage, 4 orders: −$149.8
Fee Gate: 7.5 bp × 2 orders: −$15
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$91.35
Costs to cover: 1.828%
Break-even: 15.4 days

Slippage from Gate: live order book, 11 min ago; tradeXYZ: live order book, 9 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 Gate live order book, 11 min ago	26.75 bp	55.9 bp −$56	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 9 min ago	2.94 bp	22.2 bp −$22	doesn't fit	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	22.103	+0.090%	$1K	$11K	20x	as long as short
Bybit DKNGUSDT	0.0000%	8h	22.090	+0.032%	$81K	$67K	25x	as long as short
Gate DKNG_USDTlong	0.0000%	8h	22.083	long leg	$109K	$7K	20x
Bitget DKNGUSDT	0.0000%	8h	22.054	−0.131%	$125K	$68K	20x	as long as short
SunX DKNG-USDT	0.0000%	8h	22.090	+0.032%	$1K	$691K	10x	as long as short
HTX DKNG-USDT	0.0000%	8h	22.120	+0.168%	$6K	$4K	10x	as long as short
Injective DKNG/USDC PERP	+0.0033%	1h	21.990	−0.421%	$707	$6K	12x	as long as short
OKX DKNG-USDT-SWAP	+0.0132%	8h	22.090	+0.032%	$114K	$115K	20x	as long as short
tradeXYZ xyz:DKNGshort	+0.0361%	1h	22.109	+0.118%	$1.8M	$2.1M	10x
KuCoin DKNGUSDTM	+0.0439%	8h	22.090	+0.032%	$90K	$388K	20x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni DKNG	+0.0609%	8h	22.091	+0.036%	$78K	$51K	—	as long as short
Binance DKNGUSDT	+0.0680%	8h	22.099	+0.071%	$286K	$638K	20x	as long as short