Derivatives Update: CME trading below offshore exchanges again
After a period of CME futures trading above offshore exchanges, offshore exchanges are again leading. The premium on CME declined sharply just before the weekend, hitting negative territory on June 30th.
Jul 5th 2022
After hitting all-time lows last week, the futures premiums have seen a change in directions over the weekend.
After trading at a discount to CME, offshore exchanges are now back above CME, with FTX trading at a 2.6% basis. Binance has followed closely, but CME is down to a 1.5% basis after the decline last week.