Question 1

What is futures basis?

Accepted Answer

Basis is the gap between the futures price and the spot price. Positive basis (futures above spot) is contango; negative (futures below spot) is backwardation. Expressed as an annualised percentage it tells you the implied yield of the futures contract.

Question 2

What is a cash-and-carry trade?

Accepted Answer

Buying the asset on spot and simultaneously shorting a dated future at a premium. At settlement the two prices converge, so you pocket the basis as a delta-neutral return regardless of where price goes. It is one of the few genuinely market-neutral crypto yields — the risk is funding, fees and exchange solvency.

Futures-Basis- und Cash-and-Carry-Rechner

Grundlage ist der vom Markt implizite Zinssatz