Futures Basis Calculator
The gap between a dated future and spot, annualized: crypto's term interest rate. Wide contango pays cash-and-carry desks; backwardation says fear is in charge.
Results (live)
Estimates only, not financial advice. All math runs in your browser; nothing you type leaves this page.
How it works
basis = (future − spot) ÷ spot
annualized = basis × 365 ÷ days
Worked example
Futures at $66,300 against $65,000 spot with 60 days left is 2% basis, 12.2% annualized. Buying spot and shorting the future locks roughly that, minus fees and margin drag.
FAQ
What is cash-and-carry?
Buy spot, short the future, pocket the converging basis at expiry: a market-neutral yield whose size is exactly this calculator's output.
What does negative basis mean?
Futures below spot (backwardation): the market pays you to be long forward, historically a capitulation signature.
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Estimates only, not financial, tax or investment advice. Verify numbers against your exchange or a professional before acting.