Basis Calculator
Enter futures and spot prices to compute the basis (futures − spot) and basis percentage.
Results
Fill in the inputs and click Calculate.
- Basis
- –
- Basis %
- –
Risk disclaimer
This calculator provides estimates for informational purposes only. Use live exchange prices for real basis.
What is basis?
Basis = Futures Price − Spot Price. Positive basis means futures trade at a premium; negative means backwardation. The basis % normalizes the spread to the spot price.
Basis convergence drives cash-and-carry arbitrage returns and informs funding-rate pricing.
How to use
- Enter the futures price and spot price of the same asset.
- Click Calculate to see the basis and basis percentage.
Formula
- Basis = Futures − Spot
- Basis % = Basis ÷ Spot × 100%
Example
Futures 20,100 vs spot 20,000: basis 100, basis % 0.50%.
Futures 19,900 vs spot 20,000: basis −100 (backwardation), −0.50%.
FAQ
What does positive basis mean?
Futures trade at a premium over spot — common when funding is positive in bull markets; negative means backwardation.
Does basis persist?
Near expiry or settlement, basis typically converges or fluctuates around spot.