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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 | 6.61% | Binance | BTCUSDT_260925 | Sep 25, 26 | 4.65% | same date | +1.96pp |
| Binance | Sep 25, 26 | 6.61% | Bybit | BTCUSDT-25SEP26 | Sep 25, 26 | 3.89% | same date | +2.72pp |
| Binance | Sep 25, 26 | 6.61% | CME | BTCU6 | Sep 25, 26 | 4.33% | same date | +2.28pp |
| Binance | Sep 25, 26 | 6.61% | Deribit | BTC-25SEP26 | Sep 25, 26 | 3.64% | same date | +2.97pp |
| Gate | Sep 25, 26 | 4.25% | Binance | BTCUSDT_260925 | Sep 25, 26 | 4.65% | same date | -0.40pp |
| Gate | Sep 25, 26 | 4.25% | Bybit | BTCUSDT-25SEP26 | Sep 25, 26 | 3.89% | same date | +0.36pp |
| Gate | Sep 25, 26 | 4.25% | CME | BTCU6 | Sep 25, 26 | 4.33% | same date | -0.08pp |
| Gate | Sep 25, 26 | 4.25% | Deribit | BTC-25SEP26 | Sep 25, 26 | 3.64% | same date | +0.61pp |
| Hyperliquid | Sep 25, 26 | 7.75% | Binance | BTCUSDT_260925 | Sep 25, 26 | 4.65% | same date | +3.10pp |
| Hyperliquid | Sep 25, 26 | 7.75% | Bybit | BTCUSDT-25SEP26 | Sep 25, 26 | 3.89% | same date | +3.86pp |
| Hyperliquid | Sep 25, 26 | 7.75% | CME | BTCU6 | Sep 25, 26 | 4.33% | same date | +3.42pp |
| Hyperliquid | Sep 25, 26 | 7.75% | Deribit | BTC-25SEP26 | Sep 25, 26 | 3.64% | same date | +4.10pp |
| KuCoin | Sep 25, 26 | 5.65% | Binance | BTCUSDT_260925 | Sep 25, 26 | 4.65% | same date | +1.01pp |
| KuCoin | Sep 25, 26 | 5.65% | Bybit | BTCUSDT-25SEP26 | Sep 25, 26 | 3.89% | same date | +1.76pp |
| KuCoin | Sep 25, 26 | 5.65% | CME | BTCU6 | Sep 25, 26 | 4.33% | same date | +1.33pp |
| KuCoin | Sep 25, 26 | 5.65% | Deribit | BTC-25SEP26 | Sep 25, 26 | 3.64% | same date | +2.01pp |
| OKX | Sep 25, 26 | 5.23% | Binance | BTCUSDT_260925 | Sep 25, 26 | 4.65% | same date | +0.58pp |
| OKX | Sep 25, 26 | 5.23% | Bybit | BTCUSDT-25SEP26 | Sep 25, 26 | 3.89% | same date | +1.34pp |
| OKX | Sep 25, 26 | 5.23% | CME | BTCU6 | Sep 25, 26 | 4.33% | same date | +0.91pp |
| OKX | Sep 25, 26 | 5.23% | Deribit | BTC-25SEP26 | Sep 25, 26 | 3.64% | same date | +1.59pp |
| Binance | Oct 30, 26 | 6.15% | Binance | BTCUSDT_260925 | Sep 25, 26 | 4.65% | -35d | +1.50pp |
| Binance | Oct 30, 26 | 6.15% | Bybit | BTCUSDT-30OCT26 | Oct 30, 26 | 4.50% | same date | +1.65pp |
| Binance | Oct 30, 26 | 6.15% | CME | BTCV6 | Oct 30, 26 | 4.67% | same date | +1.48pp |
| Binance | Oct 30, 26 | 6.15% | Deribit | BTC-30OCT26 | Oct 30, 26 | 4.11% | same date | +2.04pp |
| Gate | Oct 30, 26 | 4.97% | Binance | BTCUSDT_260925 | Sep 25, 26 | 4.65% | -35d | +0.32pp |
| Gate | Oct 30, 26 | 4.97% | Bybit | BTCUSDT-30OCT26 | Oct 30, 26 | 4.50% | same date | +0.47pp |
| Gate | Oct 30, 26 | 4.97% | CME | BTCV6 | Oct 30, 26 | 4.67% | same date | +0.30pp |
| Gate | Oct 30, 26 | 4.97% | Deribit | BTC-30OCT26 | Oct 30, 26 | 4.11% | same date | +0.86pp |
| Hyperliquid | Oct 30, 26 | 7.81% | Binance | BTCUSDT_260925 | Sep 25, 26 | 4.65% | -35d | +3.16pp |
| Hyperliquid | Oct 30, 26 | 7.81% | Bybit | BTCUSDT-30OCT26 | Oct 30, 26 | 4.50% | same date | +3.31pp |
| Hyperliquid | Oct 30, 26 | 7.81% | CME | BTCV6 | Oct 30, 26 | 4.67% | same date | +3.14pp |
| Hyperliquid | Oct 30, 26 | 7.81% | Deribit | BTC-30OCT26 | Oct 30, 26 | 4.11% | same date | +3.70pp |
| KuCoin | Oct 30, 26 | 5.90% | Binance | BTCUSDT_260925 | Sep 25, 26 | 4.65% | -35d | +1.25pp |
| KuCoin | Oct 30, 26 | 5.90% | Bybit | BTCUSDT-30OCT26 | Oct 30, 26 | 4.50% | same date | +1.40pp |
| KuCoin | Oct 30, 26 | 5.90% | CME | BTCV6 | Oct 30, 26 | 4.67% | same date | +1.22pp |
| KuCoin | Oct 30, 26 | 5.90% | Deribit | BTC-30OCT26 | Oct 30, 26 | 4.11% | same date | +1.79pp |
| OKX | Oct 30, 26 | 5.71% | Binance | BTCUSDT_260925 | Sep 25, 26 | 4.65% | -35d | +1.06pp |
| OKX | Oct 30, 26 | 5.71% | Bybit | BTCUSDT-30OCT26 | Oct 30, 26 | 4.50% | same date | +1.21pp |
| OKX | Oct 30, 26 | 5.71% | CME | BTCV6 | Oct 30, 26 | 4.67% | same date | +1.03pp |
| OKX | Oct 30, 26 | 5.71% | Deribit | BTC-30OCT26 | Oct 30, 26 | 4.11% | same date | +1.60pp |
| Freshness | ||||
|---|---|---|---|---|
| Sep 25, 26 · 15d to expiry · 9 quotes | ||||
| Hyperliquid | IY | 7.75% | +3.42pp | |
| Binance | IY | 6.61% | +2.28pp | |
| KuCoin | IY | 5.65% | +1.33pp | |
| OKX | IY | 5.23% | +0.91pp | |
| Binance | BASIS | 4.65% | +0.32pp | |
| CME | BASIS | 4.33% | — | 11h |
| Gate | IY | 4.25% | -0.08pp | |
| Bybit | BASIS | 3.89% | -0.44pp | |
| Deribit | BASIS | 3.64% | -0.69pp | |
| Oct 30, 26 · 50d to expiry · 8 quotes | ||||
| Hyperliquid | IY | 7.81% | +3.14pp | |
| Binance | IY | 6.15% | +1.48pp | |
| KuCoin | IY | 5.90% | +1.22pp | |
| OKX | IY | 5.71% | +1.03pp | |
| Gate | IY | 4.97% | +0.30pp | |
| CME | BASIS | 4.67% | — | 11h |
| Bybit | BASIS | 4.50% | -0.17pp | |
| Deribit | BASIS | 4.11% | -0.56pp | |
| Nov 27, 26 · 78d to expiry · 3 quotes | ||||
| CME | BASIS | 4.95% | — | 11h |
| Deribit | BASIS | 4.43% | -0.52pp | |
| Bybit | BASIS | 4.17% | -0.79pp | |
| Dec 24, 26 · 105d to expiry · 1 quote | ||||
| CME | BASIS | 5.30% | — | 11h |
| Dec 25, 26 · 106d to expiry · 3 quotes | ||||
| Deribit | BASIS | 4.65% | — | |
| Bybit | BASIS | 4.36% | — | |
| Binance | BASIS | 4.36% | — | |
| Jan 29, 27 · 141d to expiry · 1 quote | ||||
| CME | BASIS | 5.26% | — | 11hmid |
| Mar 26, 27 · 197d to expiry · 2 quotes | ||||
| Deribit | BASIS | 4.71% | — | |
| Bybit | BASIS | 4.55% | — | |
| Jun 25, 27 · 288d to expiry · 2 quotes | ||||
| Deribit | BASIS | 4.84% | — | |
| Bybit | BASIS | 4.72% | — | |
| Venue | Current vs 30d avg | |||
|---|---|---|---|---|
| Hyperliquid | 9.40% | 8.04% | 10.95% | ▲ +1.55pp |
| OKX | 6.82% | 3.75% | 9.67% | ▲ +2.85pp |
| Lighter | 8.65% | — | — | |
| KuCoin | 5.59% | 3.71% | 6.68% | ▲ +1.09pp |
| Bitget | 6.55% | — | — | |
| Gate | 4.88% | 2.81% | 6.46% | ▲ +1.58pp |
| Binance | 7.38% | 5.19% | 6.10% | ▼ -1.28pp |
| Bybit | 5.48% | — | — | |
| Deribit | 4.15% | — | — |