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Slow launch day for Coinbase's BTC Nano Futures
Coinbase derivates launched the cash-settled nano BTC futures yesterday. Along with CME and Bakkt, Coinbase has thus become the third platform offering derivatives to U.S. traders. One nano BTC contract represents 1/100th of a BTC, and the contract is thus smaller than what’s available through CME’s micro futures and Bakkt’s futures.The Coinbase derivatives launch yesterday was rather slow. After one day of trading, the July nano futures has an open interest equivalent to 25.94 BTC, equivalent to 0.0052% of the global open interest in BTC derivatives, while seeing a daily trading volume of $3.8m USD.Futures premiums at all-time lows
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CME at largest premium to offshore market since 2020
The CME premium over offshore futures has reached its highest level since November 2020, albeit – yields overall are extremely compressed given the current state of the market.Preview
Institutional investors cautious with Ether?
Ether futures on CME see basis decline to lowest levels ever recorded, while asset manager net short exposure to Ether sits at all-time highs.Preview
Negative funding rates on Binance and Bybit in the last seven days
Funding rates on Binance and Bybit have remained negative on average in the last seven days.Preview
Open interest in bitcoin perps at highest levels since June 18th
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