BTC Quarterly Futures Basis Tracker
Live annualized basis between BTC spot and the nearest Binance quarterly futures contract. Track contango and backwardation — key derivatives market health signals. Updated every 15 minutes.
What is the futures basis?
The basis is the spread between a quarterly futures contract price and the spot price. When futures trade above spot, the market is in contango — buyers are willing to pay a premium for deferred settlement. When futures trade below spot, the market is in backwardation — an unusual condition that has historically signalled stress or forced selling.
The annualized basis normalizes the raw spread to a yearly rate so it can be compared across different times to expiry: annualized = raw_basis_pct × (365 / days_to_expiry). A 2% raw basis with 90 days to expiry ≈ 8% annualized.
This tool tracks the nearest Binance quarterly futures contract (not the perpetual). The quarterly basis reflects longer-term market sentiment and carry-trade demand; it differs from the perpetual funding rate, which resets every 8 hours.
Market data only — not financial advice. Past basis patterns do not guarantee future outcomes.
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Data sourced from the Binance Futures public API (free, no key required). Figures are informational only and do not constitute financial advice. Liquid State · crypto market intelligence.