Basis (Spot/Perp)
Difference between spot and perp · Binance · updates every 30s
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How to trade basis
Basis > 0% + funding+
Perp more expensive than spot = longs overheated. Strategy: sell perp + buy spot (cash-and-carry). Wait for convergence to zero. Income = funding.
Perp more expensive than spot = longs overheated. Strategy: sell perp + buy spot (cash-and-carry). Wait for convergence to zero. Income = funding.
Basis < 0% + funding−
Perp cheaper than spot = shorts dominate. Strategy: buy perp (receive funding) or reverse carry. Usually short-term inefficiency.
Perp cheaper than spot = shorts dominate. Strategy: buy perp (receive funding) or reverse carry. Usually short-term inefficiency.
Large basis ≠ go long
High basis doesn't mean "go long" — it means the market is already long-overheated. Correct reading: expect a correction or fade perp relative to spot.
High basis doesn't mean "go long" — it means the market is already long-overheated. Correct reading: expect a correction or fade perp relative to spot.