Crypto Futures Term Structure — Contango Backwardation Deribit avatar

Crypto Futures Term Structure — Contango Backwardation Deribit

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Pay per usage

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Crypto Futures Term Structure — Contango Backwardation Deribit

Crypto Futures Term Structure — Contango Backwardation Deribit

Tracks BTC/ETH futures curve on Deribit: contango or backwardation, basis %, implied APR per expiry. No API key. $0.005/run.

Pricing

Pay per usage

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Hojun Lee

Hojun Lee

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5 days ago

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Crypto Futures Term Structure

Tracks BTC and ETH futures curves on Deribit: contango vs backwardation, basis %, and implied APR per delivery date. Professional-grade market structure signal. No API key.


What Is Term Structure?

The futures term structure shows how the price of futures contracts changes across different expiry dates:

  • Contango (futures > spot): market is bullish, traders pay premium for future delivery
  • Backwardation (futures < spot): market expects lower prices, or high demand for spot

Implied APR = the annualized return you'd earn by buying spot and shorting a futures contract (cash-and-carry trade).


Output Fields

Per dated future:

FieldDescription
basis_pct(Futures - Spot) / Spot × 100
implied_apr_pctAnnualized basis (cash-and-carry APR)
days_to_expiryCalendar days until settlement
structurecontango / backwardation / flat

Summary per currency:

  • overall_structure — dominant market structure
  • avg_basis_pct — weighted average basis across all futures

Pricing

$0.005 flat per run.