Funding arb · Price arb /

DKNG

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0277%/8h= +30.3% APRpaid last 24h +0.077%

Price spread now: Variational Omni against Injective+0.596%46s7-day average — · you sell dearer than you buy

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

Long on Injective Short on Variational Omni

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—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Variational Omni is 0.596% dearer against Injective than usual: you sell high and buy low: +$60 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 46 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	Injective DKNG/USDC PERP	21.990	0.0033	pay 0.0004% / 1h	30m 38s	$707	$6K	12x
Short	Variational Omni DKNG	22.121	0.0310	get 0.0310% / 8h	3h 30m	$78K	$51K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Injective. 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 InjectivebpFee Variational OmnibpOrdersPrice spread, now +0.596%Rate

Funding earned: $58.14
Price spread: +0.596% → 0.000%: $59.63
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $117.75
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Variational Omni: 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 Injective no order-book sample	—	—	—	—	—
Sell Variational Omni no order-book sample	—	—	—	—	—

Injective and Variational Omni: 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	22.100	+0.500%	$1K	$11K	20x	as long as short
Bybit DKNGUSDT	0.0000%	8h	22.090	+0.455%	$81K	$66K	25x	as long as short
Gate DKNG_USDT	0.0000%	8h	22.134	+0.655%	$110K	$7K	20x	as long as short
Bitget DKNGUSDT	0.0000%	8h	22.066	+0.346%	$125K	$68K	20x	as long as short
SunX DKNG-USDT	0.0000%	8h	22.120	+0.591%	$1K	$694K	10x	as long as short
HTX DKNG-USDT	0.0000%	8h	22.160	+0.773%	$6K	$4K	10x	as long as short
OKX DKNG-USDT-SWAP	+0.0013%	8h	22.120	+0.591%	$114K	$116K	20x	as long as short
Injective DKNG/USDC PERPlong	+0.0033%	1h	21.990	long leg	$707	$6K	12x
KuCoin DKNGUSDTM	+0.0226%	8h	22.080	+0.409%	$89K	$387K	20x	as long as short
Variational Omni DKNGshort	+0.0310%	8h	22.121	+0.596%	$78K	$51K	—

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance DKNGUSDT	+0.0383%	8h	22.100	+0.500%	$286K	$633K	20x	as long as short
tradeXYZ xyz:DKNG	+0.0465%	1h	22.139	+0.678%	$1.8M	$2.1M	10x	as long as short