Dated Futures Premium in Crypto: How to Read the Data With Price Context
A dated future trades at a premium (or discount) to spot that converges at expiry. Reading it needs the days left, not just the dollar gap.
Short answer
A dated (expiring) future's premium is futures price minus spot or index, often expressed as a percentage. Because it converges to zero at expiry, compare premiums using days to expiry: a 2.5% premium with 90 days left (futures $61,500 vs spot $60,000) is about 10.1% annualised on a simple basis, while the same 2.5% with 30 days left is much higher. Deribit reports an estimated delivery price for derivatives. Read premium changes with price: rising premium in a rally signals leveraged demand.
Premium arithmetic
| Item | Value |
|---|---|
| Spot / index | $60,000 |
| Futures (90 days) | $61,500 |
| Premium | $1,500 = 2.5% |
| Simple annualised | 2.5% × 365 ÷ 90 ≈ 10.1% |
Price context
Carry after costs is covered in Annualized Futures Carry in Crypto: How to Read the Data With Price Context.
Using it
Related: Annualized Futures Carry in Crypto: How to Read the Data With Price Context, Perpetual Premium vs Funding: How to Read the Data With Price Context.
Check dated futures premium beside price in ChartsPod.
Open BTC/USDT in ChartsPodRead premium changes with price: rising premium in a rally signals leveraged demand.
See Dated Futures Premium in Crypto on live data in the free ChartsPod terminal.
Open the ChartsPod terminalQuestions readers ask
What is a futures premium?
Futures price minus spot or index.
Why annualise?
To compare expiries.
What happens at expiry?
The premium converges to zero.
Sources and methodology
Definitions follow Binance's USD-M market data documentation, Hyperliquid's funding documentation, TradingView's open-interest guide and Bybit's liquidation rules, read 17 October 2026. Examples are illustrative, not recorded market data.
- Deribit API: get_book_summary_by_currency — mark price, estimated delivery price, open interest units.
- Deribit Insights: Genesis Volatility options data guide — skew, smile, term structure.
- ChartsPod: product overview, pricing and FAQ — free terminal, venues, modules, no order placement; checked 17 Oct 2026.
This article explains research tools and workflows. It is not financial advice, does not recommend buying or selling any asset and does not predict prices. Crypto derivatives carry a risk of rapid and total loss of margin.
CHARTSPOD EDITORIAL EDITION · RESEARCH AND EDUCATION ONLY · NOT FINANCIAL ADVICE.