BTC Futures Basis

Shows various basis percentages in a table and plots historical basis. Also has an alert function for backwardation events. Useful for tracking bullish/bearish sentiment in BTC futures markets.

*Currently displays March and June futures for the following exchanges: Bitmex, Binance, Deribit, Okex, and FTX

Also displays CME Continuous Next Contract. All of the symbols are customizable.

Market-wide backwardation usually occurs during a heavy sell-off (such as a liquidation cascade).

**For getting alerts of backwardation events, I recommend creating an alert on the 1 minute chart with the condition "Any alert() function call". Alert level is customizable as well.

*NOTE!! : Futures contracts expire (obviously), so the contract symbols will need to be updated periodically. I will try to keep them updated going into the future.

**NOTE2!! : The alert() function does not track the CME contract. This is to avoid false triggers.

Open-source script

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.


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