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Observed perp vs spot · M perp funding when live · not invented dated-futures slope · research terminal, not an OMS
Observed perp vs spot from M ticker when live. Venue index vs mid is dislocation, not dated-futures basis. Research terminal — not an OMS.
Spot / index
119
Perp mark
118.6
Perp - spot ($)
$-0.31
Perp - spot (bps)
-26.5 bps
No exchange futures marks on this snapshot. Not inventing a dated-futures basis curve or annualized slope. Observed perp vs spot (when M ticker is live) and M funding are perp carry — not cash-and-carry dated basis.
Partner funding rows when live · not a dated-futures term structure
| Venue | Rate | Annualized |
|---|---|---|
| bybit | 0.0053% | 5.77% |
| binance | 0.0005% | 0.49% |
| hyperliquid | 0.0013% | 1.37% |
| okx | -0.0006% | -0.65% |
| VENUE | UNDERLYING INDEX | SPREAD ($ VS MID) | DISLOCATION (BPS) | STATUS |
|---|---|---|---|---|
| Bybit | $119 | +$0.37 | +31.5 bps | Wide vs mid |
| OKX | $119 | $-0.12 | -9.7 bps | Tight |
| Binance | $119 | $-0.10 | -8.6 bps | Tight |
| Derive | $119 | $-0.20 | -16.4 bps | Wide vs mid |
| Paradex | $119 | +$0.14 | +11.5 bps | Wide vs mid |
| Coincall | $119 | $-0.10 | -8.2 bps | Tight |