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Rates annualized, ACT/365. Circles are Boros markets; diamonds are dated futures.
| Boros market | Futures venue | Contract | Futures expiry | |||||
|---|---|---|---|---|---|---|---|---|
| Binance | Oct 30, 26 | 5.81% | Bybit | BTCUSDT-30OCT26 | Oct 30, 26 | 12.09% | same date | -6.28pp |
| Binance | Oct 30, 26 | 5.81% | CME | MBTX6 | Nov 27, 26 | 2.39% | +28d | +3.42pp |
| Binance | Oct 30, 26 | 5.81% | Deribit | BTC-30OCT26 | Oct 30, 26 | 5.80% | same date | +0.01pp |
| Gate | Oct 30, 26 | 5.01% | Bybit | BTCUSDT-30OCT26 | Oct 30, 26 | 12.09% | same date | -7.08pp |
| Gate | Oct 30, 26 | 5.01% | CME | MBTX6 | Nov 27, 26 | 2.39% | +28d | +2.62pp |
| Gate | Oct 30, 26 | 5.01% | Deribit | BTC-30OCT26 | Oct 30, 26 | 5.80% | same date | -0.79pp |
| Hyperliquid | Oct 30, 26 | 8.97% | Bybit | BTCUSDT-30OCT26 | Oct 30, 26 | 12.09% | same date | -3.12pp |
| Hyperliquid | Oct 30, 26 | 8.97% | CME | MBTX6 | Nov 27, 26 | 2.39% | +28d | +6.58pp |
| Hyperliquid | Oct 30, 26 | 8.97% | Deribit | BTC-30OCT26 | Oct 30, 26 | 5.80% | same date | +3.17pp |
| KuCoin | Oct 30, 26 | 6.69% | Bybit | BTCUSDT-30OCT26 | Oct 30, 26 | 12.09% | same date | -5.40pp |
| KuCoin | Oct 30, 26 | 6.69% | CME | MBTX6 | Nov 27, 26 | 2.39% | +28d | +4.31pp |
| KuCoin | Oct 30, 26 | 6.69% | Deribit | BTC-30OCT26 | Oct 30, 26 | 5.80% | same date | +0.89pp |
| Lighter | Oct 30, 26 | 8.61% | Bybit | BTCUSDT-30OCT26 | Oct 30, 26 | 12.09% | same date | -3.48pp |
| Lighter | Oct 30, 26 | 8.61% | CME | MBTX6 | Nov 27, 26 | 2.39% | +28d | +6.22pp |
| Lighter | Oct 30, 26 | 8.61% | Deribit | BTC-30OCT26 | Oct 30, 26 | 5.80% | same date | +2.81pp |
| OKX | Oct 30, 26 | 5.03% | Bybit | BTCUSDT-30OCT26 | Oct 30, 26 | 12.09% | same date | -7.06pp |
| OKX | Oct 30, 26 | 5.03% | CME | MBTX6 | Nov 27, 26 | 2.39% | +28d | +2.64pp |
| OKX | Oct 30, 26 | 5.03% | Deribit | BTC-30OCT26 | Oct 30, 26 | 5.80% | same date | -0.77pp |
| Binance | Nov 27, 26 | 5.60% | Binance | BTCUSDT_261225 | Dec 25, 26 | 5.60% | +28d | +0.00pp |
| Binance | Nov 27, 26 | 5.60% | Bybit | BTCUSDT-27NOV26 | Nov 27, 26 | 6.16% | same date | -0.56pp |
| Binance | Nov 27, 26 | 5.60% | CME | MBTX6 | Nov 27, 26 | 2.39% | same date | +3.21pp |
| Binance | Nov 27, 26 | 5.60% | Deribit | BTC-27NOV26 | Nov 27, 26 | 5.22% | same date | +0.38pp |
| Gate | Nov 27, 26 | 5.12% | Binance | BTCUSDT_261225 | Dec 25, 26 | 5.60% | +28d | -0.48pp |
| Gate | Nov 27, 26 | 5.12% | Bybit | BTCUSDT-27NOV26 | Nov 27, 26 | 6.16% | same date | -1.05pp |
| Gate | Nov 27, 26 | 5.12% | CME | MBTX6 | Nov 27, 26 | 2.39% | same date | +2.73pp |
| Gate | Nov 27, 26 | 5.12% | Deribit | BTC-27NOV26 | Nov 27, 26 | 5.22% | same date | -0.10pp |
| Hyperliquid | Nov 27, 26 | 8.64% | Binance | BTCUSDT_261225 | Dec 25, 26 | 5.60% | +28d | +3.04pp |
| Hyperliquid | Nov 27, 26 | 8.64% | Bybit | BTCUSDT-27NOV26 | Nov 27, 26 | 6.16% | same date | +2.48pp |
| Hyperliquid | Nov 27, 26 | 8.64% | CME | MBTX6 | Nov 27, 26 | 2.39% | same date | +6.25pp |
| Hyperliquid | Nov 27, 26 | 8.64% | Deribit | BTC-27NOV26 | Nov 27, 26 | 5.22% | same date | +3.43pp |
| KuCoin | Nov 27, 26 | 5.15% | Binance | BTCUSDT_261225 | Dec 25, 26 | 5.60% | +28d | -0.45pp |
| KuCoin | Nov 27, 26 | 5.15% | Bybit | BTCUSDT-27NOV26 | Nov 27, 26 | 6.16% | same date | -1.02pp |
| KuCoin | Nov 27, 26 | 5.15% | CME | MBTX6 | Nov 27, 26 | 2.39% | same date | +2.76pp |
| KuCoin | Nov 27, 26 | 5.15% | Deribit | BTC-27NOV26 | Nov 27, 26 | 5.22% | same date | -0.07pp |
| Lighter | Nov 27, 26 | 7.73% | Binance | BTCUSDT_261225 | Dec 25, 26 | 5.60% | +28d | +2.13pp |
| Lighter | Nov 27, 26 | 7.73% | Bybit | BTCUSDT-27NOV26 | Nov 27, 26 | 6.16% | same date | +1.57pp |
| Lighter | Nov 27, 26 | 7.73% | CME | MBTX6 | Nov 27, 26 | 2.39% | same date | +5.35pp |
| Lighter | Nov 27, 26 | 7.73% | Deribit | BTC-27NOV26 | Nov 27, 26 | 5.22% | same date | +2.52pp |
| OKX | Nov 27, 26 | 6.12% | Binance | BTCUSDT_261225 | Dec 25, 26 | 5.60% | +28d | +0.52pp |
| OKX | Nov 27, 26 | 6.12% | Bybit | BTCUSDT-27NOV26 | Nov 27, 26 | 6.16% | same date | -0.04pp |
| OKX | Nov 27, 26 | 6.12% | CME | MBTX6 | Nov 27, 26 | 2.39% | same date | +3.73pp |
| OKX | Nov 27, 26 | 6.12% | Deribit | BTC-27NOV26 | Nov 27, 26 | 5.22% | same date | +0.90pp |
| Binance | Dec 25, 26 | 4.97% | Binance | BTCUSDT_261225 | Dec 25, 26 | 5.60% | same date | -0.63pp |
| Binance | Dec 25, 26 | 4.97% | Bybit | BTCUSDT-25DEC26 | Dec 25, 26 | 5.62% | same date | -0.65pp |
| Binance | Dec 25, 26 | 4.97% | CME | MBTZ6 | Dec 24, 26 | 5.90% | -1d | -0.94pp |
| Binance | Dec 25, 26 | 4.97% | Deribit | BTC-25DEC26 | Dec 25, 26 | 5.59% | same date | -0.62pp |
| Gate | Dec 25, 26 | 4.54% | Binance | BTCUSDT_261225 | Dec 25, 26 | 5.60% | same date | -1.06pp |
| Gate | Dec 25, 26 | 4.54% | Bybit | BTCUSDT-25DEC26 | Dec 25, 26 | 5.62% | same date | -1.08pp |
| Gate | Dec 25, 26 | 4.54% | CME | MBTZ6 | Dec 24, 26 | 5.90% | -1d | -1.36pp |
| Gate | Dec 25, 26 | 4.54% | Deribit | BTC-25DEC26 | Dec 25, 26 | 5.59% | same date | -1.05pp |
| Hyperliquid | Dec 25, 26 | 7.25% | Binance | BTCUSDT_261225 | Dec 25, 26 | 5.60% | same date | +1.65pp |
| Hyperliquid | Dec 25, 26 | 7.25% | Bybit | BTCUSDT-25DEC26 | Dec 25, 26 | 5.62% | same date | +1.63pp |
| Hyperliquid | Dec 25, 26 | 7.25% | CME | MBTZ6 | Dec 24, 26 | 5.90% | -1d | +1.35pp |
| Hyperliquid | Dec 25, 26 | 7.25% | Deribit | BTC-25DEC26 | Dec 25, 26 | 5.59% | same date | +1.66pp |
| KuCoin | Dec 25, 26 | 4.77% | Binance | BTCUSDT_261225 | Dec 25, 26 | 5.60% | same date | -0.83pp |
| KuCoin | Dec 25, 26 | 4.77% | Bybit | BTCUSDT-25DEC26 | Dec 25, 26 | 5.62% | same date | -0.85pp |
| KuCoin | Dec 25, 26 | 4.77% | CME | MBTZ6 | Dec 24, 26 | 5.90% | -1d | -1.13pp |
| KuCoin | Dec 25, 26 | 4.77% | Deribit | BTC-25DEC26 | Dec 25, 26 | 5.59% | same date | -0.82pp |
| Lighter | Dec 25, 26 | 7.56% | Binance | BTCUSDT_261225 | Dec 25, 26 | 5.60% | same date | +1.96pp |
| Lighter | Dec 25, 26 | 7.56% | Bybit | BTCUSDT-25DEC26 | Dec 25, 26 | 5.62% | same date | +1.94pp |
| Lighter | Dec 25, 26 | 7.56% | CME | MBTZ6 | Dec 24, 26 | 5.90% | -1d | +1.66pp |
| Lighter | Dec 25, 26 | 7.56% | Deribit | BTC-25DEC26 | Dec 25, 26 | 5.59% | same date | +1.97pp |
| OKX | Dec 25, 26 | 5.05% | Binance | BTCUSDT_261225 | Dec 25, 26 | 5.60% | same date | -0.55pp |
| OKX | Dec 25, 26 | 5.05% | Bybit | BTCUSDT-25DEC26 | Dec 25, 26 | 5.62% | same date | -0.57pp |
| OKX | Dec 25, 26 | 5.05% | CME | MBTZ6 | Dec 24, 26 | 5.90% | -1d | -0.85pp |
| OKX | Dec 25, 26 | 5.05% | Deribit | BTC-25DEC26 | Dec 25, 26 | 5.59% | same date | -0.53pp |
| Freshness | ||||
|---|---|---|---|---|
| Oct 30, 26 · 5d to expiry · 8 quotes | ||||
| Bybit | BASIS | 12.09% | — | |
| Hyperliquid | IY | 8.97% | — | |
| Lighter | IY | 8.61% | — | |
| KuCoin | IY | 6.69% | — | |
| Binance | IY | 5.81% | — | |
| Deribit | BASIS | 5.80% | — | |
| OKX | IY | 5.03% | — | |
| Gate | IY | 5.01% | — | |
| Nov 27, 26 · 33d to expiry · 9 quotes | ||||
| Hyperliquid | IY | 8.64% | +6.25pp | |
| Lighter | IY | 7.73% | +5.35pp | |
| Bybit | BASIS | 6.16% | +3.77pp | |
| OKX | IY | 6.12% | +3.73pp | |
| Binance | IY | 5.60% | +3.21pp | |
| Deribit | BASIS | 5.22% | +2.83pp | |
| KuCoin | IY | 5.15% | +2.76pp | |
| Gate | IY | 5.12% | +2.73pp | |
| CME | BASIS | 2.39% | — | |
| Dec 24, 26 · 60d to expiry · 1 quote | ||||
| CME | BASIS | 5.90% | — | |
| Dec 25, 26 · 61d to expiry · 9 quotes | ||||
| Lighter | IY | 7.56% | — | low liquidity<1h |
| Hyperliquid | IY | 7.25% | — | |
| Bybit | BASIS | 5.62% | — | |
| Binance | BASIS | 5.60% | — | |
| Deribit | BASIS | 5.59% | — | |
| OKX | IY | 5.05% | — | low liquidity<1h |
| Binance | IY | 4.97% | — | low liquidity<1h |
| KuCoin | IY | 4.77% | — | low liquidity<1h |
| Gate | IY | 4.54% | — | |
| Jan 29, 27 · 96d to expiry · 1 quote | ||||
| CME | BASIS | 4.62% | — | 25hsettle |
| Feb 26, 27 · 124d to expiry · 1 quote | ||||
| CME | BASIS | 5.50% | — | 2dsettle |
| Mar 26, 27 · 152d to expiry · 3 quotes | ||||
| Deribit | BASIS | 5.43% | — | |
| Bybit | BASIS | 5.42% | — | |
| Binance | BASIS | 5.33% | — | |
| Jun 25, 27 · 243d to expiry · 2 quotes | ||||
| Deribit | BASIS | 5.52% | — | |
| Bybit | BASIS | 5.47% | — | |
| Sep 24, 27 · 334d to expiry · 2 quotes | ||||
| Deribit | BASIS | 5.56% | — | |
| Bybit | BASIS | 5.55% | — | |
| Venue | Current vs 30d avg | |||
|---|---|---|---|---|
| Hyperliquid | 8.33% | 9.11% | 10.95% | ▲ +2.62pp |
| Lighter | 6.89% | 9.43% | 10.51% | ▲ +3.62pp |
| KuCoin | 5.24% | 7.51% | 7.99% | ▲ +2.76pp |
| Bitget | 6.61% | — | — | |
| Binance | 3.53% | 6.23% | 5.85% | ▲ +2.32pp |
| Gate | 2.70% | 5.27% | 4.82% | ▲ +2.12pp |
| Deribit | 3.66% | — | — | |
| Bybit | 3.57% | — | — | |
| OKX | 4.29% | 6.84% | 0.15% | ▼ -4.14pp |