The difference between a derivative's price and the spot price of the asset it tracks.
Last verified 13 September 2026 · written by the DexLadder team
What it means
The difference between a derivative's price and the spot price of the asset it tracks.
Why it matters when you trade
Basis is the market's price for time and leverage. A wide positive basis signals eager leveraged demand and funds the cash-and-carry trade, where a desk buys spot, sells the future and collects the convergence. When basis collapses, that trade unwinds and spot gets sold, which is why derivative structure matters even to people who never touch derivatives.
Worked example
Quarterly future at 71,000 against spot at 68,600 is a 3.5% basis over three months — roughly 14% annualised for a hedged carry.
See it on live markets
DexLadder runs basis against live market and pool data, with simulated capital, so you can watch it act on an order instead of reading about it — no account, no wallet, nothing installed.