CME futures traded below spot last night

As market uncertainty brews, the futures basis saw further downward pressure over the last week.
Source: Skew

Accompanied by bitcoin’s poor performance lately, the bitcoin futures market has seen declining futures’ basis across the board.

The offshore derivative exchanges trades at a premium to CME, with the annualized offshore futures basis currently trailing between 7-9% with FTX trading at a slight premium.

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