This indicator can be useful to show contango or backwardation between spot and derivative prices via exchange, giving potential indication for funding and reversal. Based on resolution restrictions, this will only show down to the 1 minute price.
I'll be updating it with more exchanges as I see fit.
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In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.