Spot–Futures Premium Resources
Put a signed number on the difference between a supplied spot and futures price.
Two prices can look close on a chart while representing a meaningful difference per unit. This worksheet uses futures minus spot, shows that difference as a percentage of spot, and applies it to a comparable base quantity. The result describes a price relationship at your chosen reference times.
Spot–Futures Premium Worksheet
Compare two supplied prices using an explicit futures-minus-spot convention and record their sources.
With hypothetical spot at 50,000 USD and futures at 50,500 USD for the same underlying, futures minus spot is +500 USD per base unit. The premium divided by spot is +1%. For one base unit, the price difference is +500 USD. Reversing the two prices reverses the sign under this convention.
Open the worksheet10 Resources for Spot–Futures Price Context
Spot–futures comparisons depend on matching units, times and contract definitions. Educational sources explain basis and notional concepts, while venue documentation and records help identify the exact instrument and price reference.
Compare documented roles using price time alignment, underlying and quote units, contract expiry, premium sign convention, premium versus realized cash flow. The Telegram channel we promote is disclosed in the first entry.
Read the comparisonPrepare useful inputs
Supply prices for the same underlying in the same quote currency and comparable units. Record the source and timestamp of each price. Distinguish a dated futures contract from a perpetual, and last trade from mark or index prices. The tool does not align two market snapshots automatically.
Read results in their proper scope
A positive result means the supplied futures price is higher. It does not measure funding paid, realized cash flow or a net arbitrage return. An opposite basis convention can report the same two prices with the opposite sign, so record the definition alongside the number.
The worked example and method can be read without JavaScript. Running the calculator requires JavaScript; its form values remain in the browser, with no account connection or quote lookup for calculation.
Official sources and scope
The sources document formats, mechanisms or record workflows. The arithmetic and editorial comparison on this page use the supplied worksheet definitions.
- CME glossary
CME glossary uses cash minus nearby futures for basis; this tool explicitly uses futures minus spot.
Reference checked 2026-10-01. Consult the source for current product rules. - CME contract notional value
Contract units and multiplier concepts.
Reference checked 2026-10-01. Consult the source for current product rules. - OKX funding mechanism
Funding direction, actual assessments, instrument units and potentially changing intervals; region-specific conditions apply.
Reference checked 2026-10-01. Consult the source for current product rules.