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Rates annualized, ACT/365. Circles are Boros markets; diamonds are dated futures.
| Boros market | Futures venue | Contract | Futures expiry | |||||
|---|---|---|---|---|---|---|---|---|
| Binance | Sep 25, 26 | 6.48% | Binance | BTCUSDT_260925 | Sep 25, 26 | 4.05% | same date | +2.44pp |
| Binance | Sep 25, 26 | 6.48% | Bybit | BTCUSDT-25SEP26 | Sep 25, 26 | 4.02% | same date | +2.46pp |
| Binance | Sep 25, 26 | 6.48% | CME | BTCU6 | Sep 25, 26 | 4.73% | same date | +1.75pp |
| Binance | Sep 25, 26 | 6.48% | Deribit | BTC-25SEP26 | Sep 25, 26 | 3.75% | same date | +2.73pp |
| Gate | Sep 25, 26 | 4.54% | Binance | BTCUSDT_260925 | Sep 25, 26 | 4.05% | same date | +0.49pp |
| Gate | Sep 25, 26 | 4.54% | Bybit | BTCUSDT-25SEP26 | Sep 25, 26 | 4.02% | same date | +0.52pp |
| Gate | Sep 25, 26 | 4.54% | CME | BTCU6 | Sep 25, 26 | 4.73% | same date | -0.19pp |
| Gate | Sep 25, 26 | 4.54% | Deribit | BTC-25SEP26 | Sep 25, 26 | 3.75% | same date | +0.79pp |
| Hyperliquid | Sep 25, 26 | 8.19% | Binance | BTCUSDT_260925 | Sep 25, 26 | 4.05% | same date | +4.14pp |
| Hyperliquid | Sep 25, 26 | 8.19% | Bybit | BTCUSDT-25SEP26 | Sep 25, 26 | 4.02% | same date | +4.16pp |
| Hyperliquid | Sep 25, 26 | 8.19% | CME | BTCU6 | Sep 25, 26 | 4.73% | same date | +3.45pp |
| Hyperliquid | Sep 25, 26 | 8.19% | Deribit | BTC-25SEP26 | Sep 25, 26 | 3.75% | same date | +4.44pp |
| KuCoin | Sep 25, 26 | 5.99% | Binance | BTCUSDT_260925 | Sep 25, 26 | 4.05% | same date | +1.95pp |
| KuCoin | Sep 25, 26 | 5.99% | Bybit | BTCUSDT-25SEP26 | Sep 25, 26 | 4.02% | same date | +1.97pp |
| KuCoin | Sep 25, 26 | 5.99% | CME | BTCU6 | Sep 25, 26 | 4.73% | same date | +1.26pp |
| KuCoin | Sep 25, 26 | 5.99% | Deribit | BTC-25SEP26 | Sep 25, 26 | 3.75% | same date | +2.24pp |
| OKX | Sep 25, 26 | 6.37% | Binance | BTCUSDT_260925 | Sep 25, 26 | 4.05% | same date | +2.33pp |
| OKX | Sep 25, 26 | 6.37% | Bybit | BTCUSDT-25SEP26 | Sep 25, 26 | 4.02% | same date | +2.35pp |
| OKX | Sep 25, 26 | 6.37% | CME | BTCU6 | Sep 25, 26 | 4.73% | same date | +1.64pp |
| OKX | Sep 25, 26 | 6.37% | Deribit | BTC-25SEP26 | Sep 25, 26 | 3.75% | same date | +2.63pp |
| Binance | Oct 30, 26 | 6.77% | Binance | BTCUSDT_260925 | Sep 25, 26 | 4.05% | -35d | +2.72pp |
| Binance | Oct 30, 26 | 6.77% | Bybit | BTCUSDT-30OCT26 | Oct 30, 26 | 4.29% | same date | +2.48pp |
| Binance | Oct 30, 26 | 6.77% | CME | BTCV6 | Oct 30, 26 | 5.23% | same date | +1.54pp |
| Binance | Oct 30, 26 | 6.77% | Deribit | BTC-30OCT26 | Oct 30, 26 | 4.25% | same date | +2.52pp |
| Gate | Oct 30, 26 | 4.75% | Binance | BTCUSDT_260925 | Sep 25, 26 | 4.05% | -35d | +0.70pp |
| Gate | Oct 30, 26 | 4.75% | Bybit | BTCUSDT-30OCT26 | Oct 30, 26 | 4.29% | same date | +0.46pp |
| Gate | Oct 30, 26 | 4.75% | CME | BTCV6 | Oct 30, 26 | 5.23% | same date | -0.48pp |
| Gate | Oct 30, 26 | 4.75% | Deribit | BTC-30OCT26 | Oct 30, 26 | 4.25% | same date | +0.50pp |
| Hyperliquid | Oct 30, 26 | 8.16% | Binance | BTCUSDT_260925 | Sep 25, 26 | 4.05% | -35d | +4.11pp |
| Hyperliquid | Oct 30, 26 | 8.16% | Bybit | BTCUSDT-30OCT26 | Oct 30, 26 | 4.29% | same date | +3.87pp |
| Hyperliquid | Oct 30, 26 | 8.16% | CME | BTCV6 | Oct 30, 26 | 5.23% | same date | +2.92pp |
| Hyperliquid | Oct 30, 26 | 8.16% | Deribit | BTC-30OCT26 | Oct 30, 26 | 4.25% | same date | +3.91pp |
| KuCoin | Oct 30, 26 | 4.04% | Binance | BTCUSDT_260925 | Sep 25, 26 | 4.05% | -35d | -0.01pp |
| KuCoin | Oct 30, 26 | 4.04% | Bybit | BTCUSDT-30OCT26 | Oct 30, 26 | 4.29% | same date | -0.25pp |
| KuCoin | Oct 30, 26 | 4.04% | CME | BTCV6 | Oct 30, 26 | 5.23% | same date | -1.20pp |
| KuCoin | Oct 30, 26 | 4.04% | Deribit | BTC-30OCT26 | Oct 30, 26 | 4.25% | same date | -0.21pp |
| OKX | Oct 30, 26 | 6.20% | Binance | BTCUSDT_260925 | Sep 25, 26 | 4.05% | -35d | +2.16pp |
| OKX | Oct 30, 26 | 6.20% | Bybit | BTCUSDT-30OCT26 | Oct 30, 26 | 4.29% | same date | +1.92pp |
| OKX | Oct 30, 26 | 6.20% | CME | BTCV6 | Oct 30, 26 | 5.23% | same date | +0.97pp |
| OKX | Oct 30, 26 | 6.20% | Deribit | BTC-30OCT26 | Oct 30, 26 | 4.25% | same date | +1.96pp |
| Freshness | ||||
|---|---|---|---|---|
| Sep 25, 26 · 10d to expiry · 9 quotes | ||||
| Hyperliquid | IY | 8.19% | +3.45pp | |
| Binance | IY | 6.48% | +1.75pp | |
| OKX | IY | 6.37% | +1.64pp | |
| KuCoin | IY | 5.99% | +1.26pp | |
| CME | BASIS | 4.73% | — | 4h |
| Gate | IY | 4.54% | -0.19pp | |
| Binance | BASIS | 4.05% | -0.69pp | |
| Bybit | BASIS | 4.02% | -0.71pp | |
| Deribit | BASIS | 3.75% | -0.99pp | |
| Oct 30, 26 · 45d to expiry · 8 quotes | ||||
| Hyperliquid | IY | 8.16% | +2.92pp | |
| Binance | IY | 6.77% | +1.54pp | |
| OKX | IY | 6.20% | +0.97pp | |
| CME | BASIS | 5.23% | — | 4h |
| Gate | IY | 4.75% | -0.48pp | |
| Bybit | BASIS | 4.29% | -0.95pp | |
| Deribit | BASIS | 4.25% | -0.98pp | |
| KuCoin | IY | 4.04% | -1.20pp | |
| Nov 27, 26 · 73d to expiry · 3 quotes | ||||
| CME | BASIS | 5.32% | — | 4h |
| Deribit | BASIS | 4.55% | -0.77pp | |
| Bybit | BASIS | 4.42% | -0.89pp | |
| Dec 24, 26 · 100d to expiry · 1 quote | ||||
| CME | BASIS | 5.27% | — | 6h1m close |
| Dec 25, 26 · 101d to expiry · 3 quotes | ||||
| Deribit | BASIS | 4.81% | — | |
| Bybit | BASIS | 4.68% | — | |
| Binance | BASIS | 4.59% | — | |
| Jan 29, 27 · 136d to expiry · 1 quote | ||||
| CME | BASIS | 5.22% | — | 4hmid |
| Mar 26, 27 · 192d to expiry · 2 quotes | ||||
| Deribit | BASIS | 4.71% | — | |
| Bybit | BASIS | 4.66% | — | |
| Jun 25, 27 · 283d to expiry · 2 quotes | ||||
| Deribit | BASIS | 4.82% | — | |
| Bybit | BASIS | 4.70% | — | |
| Venue | Current vs 30d avg | |||
|---|---|---|---|---|
| Hyperliquid | 8.75% | 5.01% | 10.95% | ▲ +2.20pp |
| Lighter | 9.10% | — | — | |
| Bitget | 6.39% | — | — | |
| Gate | 4.53% | 4.54% | 6.35% | ▲ +1.82pp |
| Bybit | 5.53% | — | — | |
| OKX | 6.38% | 6.25% | 5.02% | ▼ -1.36pp |
| Binance | 7.26% | 6.07% | 3.78% | ▼ -3.47pp |
| Deribit | 3.59% | — | — | |
| KuCoin | 4.61% | 4.04% | 1.31% | ▼ -3.29pp |