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
Liquidations
The forced closing of leveraged positions when margin requirements are not met. Liquidation data shows the dollar value and direction (long vs short) of liquidated positions.
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.
Options Open Interest
The total number of outstanding Bitcoin options contracts. Shows the total notional value of calls and puts across exchanges like Deribit, CME, and others.
Options Volume
Daily trading volume in Bitcoin options contracts. Measures the level of options market activity and can indicate hedging demand or speculative interest.