Funding arb · Price arb /

DKNG

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0301%/8h= +33.0% APRpaid last 24h +0.076%

Price spread now: tradeXYZ against SunX+0.032%7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$235as in the Funding arb table

Net, price: spread back to 7d avg − costs−$246as in the Price arb table

costs, in and out, $10k−$2502.497% of the position

Long on SunX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.148%+$15 on $10k

Price spread, last 3 days (all we have)−0.065%−$6 · spread now +0.032%, 7d avg −0.005%

Together, before fees+0.084%+ Points / potential airdroptradeXYZ: Active · farm board+$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and tradeXYZ is 0.036% dearer against SunX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.005%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.148% in total (about 7.7% 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	SunX DKNG-USDT	22.100	0	get 0.0000% / 8h	6h 39m	$1K	$687K	10x
Short	tradeXYZ xyz:DKNG	22.107	0.0301	get 0.0038% / 1h	39m 30s	$1.7M	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against SunX. 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 SunXbpFee tradeXYZbpOrdersPrice spread, now +0.032%Rate

Funding earned: $63.31
Price spread: +0.032% → −0.005%: $3.63
Slippage, 4 orders: −$223.75
Fee SunX: 4 bp × 2 orders: −$8
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$182.81
Costs to cover: 2.497%
Break-even: 27.2 days

Slippage from SunX: live order book, 2 min ago; tradeXYZ: live order book, 8 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 SunX live order book, 2 min ago	49.77 bp	90.6 bp −$91	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 8 min ago	2.04 bp	22.3 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	22.130	+0.134%	$1K	$11K	20x	as long as short
Bybit DKNGUSDT	0.0000%	8h	22.110	+0.045%	$81K	$67K	25x	as long as short
Gate DKNG_USDT	0.0000%	8h	22.123	+0.104%	$110K	$5K	20x	as long as short
Bitget DKNGUSDT	0.0000%	8h	22.101	+0.005%	$124K	$67K	20x	as long as short
SunX DKNG-USDTlong	0.0000%	8h	22.100	long leg	$1K	$687K	10x
HTX DKNG-USDT	0.0000%	8h	22.100	0.000%	$6K	$3K	10x	as long as short
Injective DKNG/USDC PERP	+0.0033%	1h	21.990	−0.498%	$707	$6K	12x	as long as short
OKX DKNG-USDT-SWAP	+0.0253%	8h	22.090	−0.045%	$113K	$113K	20x	as long as short
tradeXYZ xyz:DKNGshort	+0.0301%	1h	22.107	+0.032%	$1.7M	$2.1M	10x
Variational Omni DKNG	+0.0903%	8h	22.097	−0.015%	$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	+0.0962%	8h	22.098	−0.007%	$269K	$624K	20x	as long as short
KuCoin DKNGUSDTM	+0.1234%	8h	22.070	−0.136%	$90K	$409K	20x	as long as short