Futures basis
Futures basis is the difference between a futures price and the referenced spot or cash price.
Plain-language meaning
Futures basis is the difference between a futures price and the referenced spot or cash price.
Why it is useful
Futures basis is useful as descriptive evidence when it is compared on the same definition, source, period, unit and exact listing. It is one input to research, not a verdict.
Where it appears in XMarketRadar
Look for Futures basis in Futures, Option Chain, Options Screener and derivative study tables for a selected underlying and contract.
How it is calculated or sourced
Subtract the referenced cash/spot price from the comparable futures price: basis = futures − spot. Use synchronized observations and matching units.
Inputs, period and unit
Read the disclosed inputs or source, observation period, bar interval, unit, native currency and scale. A value without its source and as-of context is incomplete; unlike units must not be combined.
Worked example
Illustrative only: If the comparable futures price is ₹2,025 and spot is ₹2,000, basis is +₹25. Unsynchronized quotes can make this comparison misleading.
What high and low mean
A higher or lower Futures basis value is descriptive, not automatically good or bad. Meaning depends on the instrument, comparison period, method and related evidence.
Positive, negative and genuine zero
Positive and negative Futures basis values retain the definition shown here. A genuine reported or computed zero is displayed as 0 and is not the same as missing evidence.
Limitations and common mistakes
Futures basis may differ by provider definition, observation time, instrument and venue. Common mistakes are dropping units or dates, comparing unlike scopes, and treating a missing value as zero.
Market-specific differences
Contract size, exercise style, expiry, settlement, price unit and trading rules vary across all supported markets. Always use the selected contract specification.
Suggested next steps
Open the related Derivatives terms below, then follow the matching Help Centre task guide and inspect Futures basis on an exact exchange listing. Confirm source, as-of time, units and unavailable reason before using it in research.
Educational information only; not investment advice or an order service.
This Futures basis tutorial is educational and descriptive. It is not investment advice, a price prediction, a recommendation, or an instruction to buy, sell, rebalance or place an order.