The annualized spread between Bitcoin futures prices and the spot price. Represents the cost of carry and reflects market sentiment about future prices.
High basis (> 15% annualised) signals euphoric leveraged demand. Negative basis signals bearish sentiment. Basis tends to peak near local and cycle tops.
Periodic payments between long and short traders in perpetual futures contracts. Positive rates mean longs pay shorts; negative rates mean shorts pay longs. Keeps perpetual prices anchored to spot.
Cumulative Volume Delta for spot markets — the running total of the difference between taker buy and taker sell volume on exchanges.
The total number of outstanding futures contracts across all exchanges. Represents the total amount of capital committed to Bitcoin futures positions.
The total number of outstanding Bitcoin options contracts. Shows the total notional value of calls and puts across exchanges like Deribit, CME, and others.