What is a Bitcoin basis trade?

It's betting on the price gap between spot Bitcoin and CME futures—long spot, short futures for low-risk yield.

Why did CME Bitcoin futures volume drop?

Basis trades unwound due to narrowing premiums, rate shifts, and ETF competition, slashing institutional demand.

Likely yes—its perps and liquidity draw traders, unless regulators clamp down hard.

CME's grip on Bitcoin futures is slipping—fast. A 14-month volume low signals the end of the basis trade era, with Binance surging ahead.

theAIcatchup Apr 09, 2026 3 min read

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Markets. Money. Innovation.

#Binance futures #CME Bitcoin futures #basis trade #crypto derivatives

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Originally reported by The Block