BTC Spot Exchange Premiums
What
A Swiss army knife for bitcoin spot exchange premiums.
Content
This is an improved version of all the Bitfinex and Coinbase premiums I previously made, but they're all combined now and I added premiums for Binance as well.
The indicator now includes:
A "spot premium" is the comparison of the price of the spot exchange selected to an index of BTC spot markets.
A "perps premium" is the comparison of the price of the spot exchange selected to an index of BTC perpetual swap contracts.
All indices are volume weighted.
Bitfinex spot market = BTC/USD
Coinbase spot market = BTC/USD
Binance spot market = BTC/USDT
Complete list of all the spot markets used for calculations:
Complete list of all the perpetual swaps used for calculations:
In the settings you can easily select whichever premium you want to display.
There's also an option added now to color the bars/candles based on whether the premium is positive or negative.
Zero values are also considered positive.
The histogram is a ratio that shows the percentage difference (premium or discount).
Trading
It's made in a very easy to understand way.
Green (positive values) means the spot exchange selected is trading at a premium compared to the spot index or perps index.
Red (negative values) means the spot exchange is trading at a discount compared to the spot index or perps index.
Spot exchanges trading at a premium compared to perps is generally speaking considered bullish.
Vice versa spot trading at a discount is considered bearish.
The spot versus spot index premiums are more nuanced.
When, for example, Coinbase is trading at a premium compared to other spot markets it simply means that Coinbase is the more dominant exchange.
This can be quite useful information because Coinbase is known for institutional orderflow.
So Coinbase being dominant could be a very bullish sign.
Alpha tip:
Bitfinex is deemed smart money.
Coinbase is known for institutional money.
Binance is know for retail money.
This alpha tip is debatable though, so take it as you will.
If you want access to this indicator send me a DM so we can discuss it.
A Swiss army knife for bitcoin spot exchange premiums.
Content
This is an improved version of all the Bitfinex and Coinbase premiums I previously made, but they're all combined now and I added premiums for Binance as well.
The indicator now includes:
- Bitfinex Spot Premium
- Bitfinex Perps Premium
- Coinbase Spot Premium
- Coinbase Perps Premium
- Binance Spot Premium
- Binance Perps Premium
A "spot premium" is the comparison of the price of the spot exchange selected to an index of BTC spot markets.
A "perps premium" is the comparison of the price of the spot exchange selected to an index of BTC perpetual swap contracts.
All indices are volume weighted.
Bitfinex spot market = BTC/USD
Coinbase spot market = BTC/USD
Binance spot market = BTC/USDT
Complete list of all the spot markets used for calculations:
- Bitfinex USD
- Coinbase USD
- Binance USDT
- Bitstamp USD
- Okex USDT
- Huobi USDT
- Kraken XBT
- FTX USD
Complete list of all the perpetual swaps used for calculations:
- Binance USDT
- Okex USD
- Huobi USD
- Bybit USD
- Bitmex XBT
- FTX USD
- Deribit USD
- Kraken XBT
In the settings you can easily select whichever premium you want to display.
There's also an option added now to color the bars/candles based on whether the premium is positive or negative.
Zero values are also considered positive.
The histogram is a ratio that shows the percentage difference (premium or discount).
Trading
It's made in a very easy to understand way.
Green (positive values) means the spot exchange selected is trading at a premium compared to the spot index or perps index.
Red (negative values) means the spot exchange is trading at a discount compared to the spot index or perps index.
Spot exchanges trading at a premium compared to perps is generally speaking considered bullish.
Vice versa spot trading at a discount is considered bearish.
The spot versus spot index premiums are more nuanced.
When, for example, Coinbase is trading at a premium compared to other spot markets it simply means that Coinbase is the more dominant exchange.
This can be quite useful information because Coinbase is known for institutional orderflow.
So Coinbase being dominant could be a very bullish sign.
Alpha tip:
Bitfinex is deemed smart money.
Coinbase is known for institutional money.
Binance is know for retail money.
This alpha tip is debatable though, so take it as you will.
If you want access to this indicator send me a DM so we can discuss it.
Release Notes:
Made a small change to the weighting.
The indicator should load a little bit faster now too.
The indicator should load a little bit faster now too.