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‘Risk-Free’ Trade Makes Comeback as Bitcoin ETF Fuels Futures Premiums
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The closest thing to a "risk-free" trade in the crypto market has once again appeared back on the radar for many traders, after the introduction of exchange-traded funds (ETF) backed by bitcoin (BTC) futures contracts have pushed price premiums on regulated bitcoin futures higher.
The trade, often called the basis trade, is essentially a spot to futures market arbitrage opportunity that has to a varying extent been possible to take advantage of since regulated bitcoin futures were first introduced on the Chicago Mercantile Exchange (CME) on December 17, 2017.
The opportunity arises because bitcoin typically trades at a higher price on CME than it does on the spot market, partly because futures has been the only way some institutional traders
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