Basis Trading
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Bitcoin ETF carry is a reminder that basis trades are not frictionless
A recent arXiv paper comparing IBIT options and CME Bitcoin futures highlights why collateral, margin and venue rules can keep arbitrage from closing cleanly.
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Bitcoin ETF options and CME futures can price different carry even when both track BTC
New research on IBIT options and CME bitcoin futures shows why traders should not assume every regulated Bitcoin wrapper prices the same funding and collateral risk.
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IBIT options and CME bitcoin futures can price different carry even on the same bitcoin
A recent arXiv paper highlights a carry wedge between listed IBIT options and CME bitcoin futures, which matters for arbitrage and hedge design.