Term Structure
Arbitrage
Sentiment
Annualized basis curve across dated futures expiries, the crypto derivatives version of a yield curve.
| Exchange / Contract | Expiry | Days to Expiry | Basis | Annualized Basis | Open Interest |
|---|---|---|---|---|---|
| Deribit BTC_USDC-28AUG26 | 2026-08-28 | 15 | +0.04% | +1.03% | $2.22M |
| Deribit BTC-28AUG26 | 2026-08-28 | 15 | +0.20% | +5.09% | $53.00M |
| Bybit BTCUSDT-28AUG26 | 2026-08-28 | 15 | +0.02% | +0.44% | $8.33M |
| OKX BTC-USD-260828 | 2026-08-28 | 15 | −0.02% | −0.59% | $9.57M |
| OKX BTC-USD_UM-260828 | 2026-08-28 | 15 | +0.31% | +7.64% | $135.0K |
| Deribit BTC-4SEP26 | 2026-09-04 | 22 | +0.16% | +2.64% | $17.9K |
| Deribit BTC_USDC-25SEP26 | 2026-09-25 | 43 | +0.46% | +3.98% | $1.04M |
| Deribit BTC-25SEP26 | 2026-09-25 | 43 | +0.53% | +4.56% | $366.50M |
| Bybit BTCUSDT-25SEP26 | 2026-09-25 | 43 | +0.47% | +4.04% | $20.30M |
| OKX BTC-USD-260925 | 2026-09-25 | 43 | +0.43% | +3.72% | $52.05M |
| OKX BTC-USD_UM-260925 | 2026-09-25 | 43 | +1.00% | +8.59% | $288.5K |
| Binance BTCUSDT_260925 | 2026-09-25 | 43 | +0.56% | +4.82% | $40.37M |
| Deribit BTC-30OCT26 | 2026-10-30 | 78 | +0.82% | +3.86% | $3.91M |
| Bybit BTCUSDT-30OCT26 | 2026-10-30 | 78 | +0.79% | +3.70% | $2.10M |
| Deribit BTC_USDC-25DEC26 | 2026-12-25 | 134 | +1.55% | +4.24% | $174.8K |
| Deribit BTC-25DEC26 | 2026-12-25 | 134 | +1.72% | +4.69% | $223.04M |
| Bybit BTCUSDT-25DEC26 | 2026-12-25 | 134 | +1.60% | +4.38% | $16.91M |
| OKX BTC-USD-261225 | 2026-12-25 | 134 | +1.52% | +4.16% | $30.05M |
| OKX BTC-USD_UM-261225 | 2026-12-25 | 134 | +2.02% | +5.52% | $686.4K |
| Binance BTCUSDT_261225 | 2026-12-25 | 134 | +1.61% | +4.39% | $26.00M |
| Deribit BTC-26MAR27 | 2027-03-26 | 225 | +2.55% | +4.15% | $48.54M |
| Bybit BTCUSDT-26MAR27 | 2027-03-26 | 225 | +2.49% | +4.05% | $6.03M |
| OKX BTC-USD-270326 | 2027-03-26 | 225 | +2.37% | +3.86% | $6.35M |
| OKX BTC-USD_UM-270326 | 2027-03-26 | 225 | +5.71% | +9.27% | $588.75 |
| Deribit BTC-25JUN27 | 2027-06-25 | 316 | +3.71% | +4.29% | $6.26M |
| Bybit BTCUSDT-25JUN27 | 2027-06-25 | 316 | +3.70% | +4.28% | $6.09M |
| OKX BTC-USD-270625 | 2027-06-25 | 316 | +4.44% | +5.14% | $478.4K |
| OKX BTC-USD-270924 | 2027-09-24 | 407 | +6.14% | +5.51% | $1.06M |
| OKX BTC-USD_UM_XPERP-310404 | 2031-04-04 | 1695 | −0.13% | −0.03% | $60.77M |
Data last updated