Optimism in the futures market?

The uptrend in the futures basis remains, as the basis both offshore and on CME has trended up beyond 5% in the last seven days. FTX traders seem more bullish than traders on Binance, as we see a 1% difference in the annualized basis between the two largest offshore derivatives platforms.

Meanwhile, CME’s strong uptrend in the futures premiums shows stickiness. Premiums have surged since mid-March.