Futures Basis
What Is Futures Basis?
The annualized spread between Bitcoin futures prices and the spot price. Represents the cost of carry and reflects market sentiment about future prices.
How to Interpret
High basis (> 15% annualised) signals euphoric leveraged demand. Negative basis signals bearish sentiment. Basis tends to peak near local and cycle tops.
More Derivatives Metrics
Futures Open Interest
The total number of outstanding futures contracts across all exchanges. Represents the total amount of capital committed to Bitcoin futures positions.
Options Volume
Daily trading volume in Bitcoin options contracts. Measures the level of options market activity and can indicate hedging demand or speculative interest.
Term Structure
The curve showing futures contract prices across different expiration dates. Shows the relationship between spot price and forward delivery prices at various maturities.
Futures Volume
The total daily trading volume of Bitcoin futures contracts across all exchanges. Measures the level of speculative activity and leveraged trading.