The Arkansas Derby is an American flat Thoroughbred horse race for three-year-olds held annually in April at Oaklawn Park in Hot Springs, Arkansas. It is currently a Grade I race run over a distance of 9 furlongs on dirt.In 2004, Oaklawn Park offered a $5 million bonus to any horse that could sweep its three-year-old graded stakes, the Rebel Stakes and the Arkansas Derby, and then take the Kentucky Derby.