How to hedge Bitcoin
BTC is Bitcoin token.
As BTC is a volatile asset, in certain instances it will require hedging.The best method of hedging BTC is to use crypto derivatives.
There are multiple of the exchanges serving futures and perpetual swaps.
Choose from the list of hedging options
- Bitcoin Futures
- Bitcoin Perpetual Swaps
- Future Contracts on Indexes with Bitcoin embeded
- Perpetual Swaps on Indexes with Bitcoin component
- Other crypto related Indexes (Perpetual Swaps)
- Negative correlation with Bitcoin
Bitcoin Futures
When required to hedge the position for the mid-term period (weeks to months) you can use futures.
| Exchange | Symbol | Premium (-) Discount (+) |
Spread | Open Intrest | 24h Volume | Expiry Date |
|---|---|---|---|---|---|---|
| Binance (Futures) | BTCUSD_PERP | -0.099 | 0.11 | 1,635,700 | 62,305,943 | 25/12/2100 |
Bitcoin Perpetual Swaps
Short position for indefinite time is also possible by using perpetual.
Moreover you can earn swaps in particular cases.
| Exchange | Symbol | Premium (-) Discount (+) |
Spread | Funding Rate | Open Intrest | 24h Volume |
|---|---|---|---|---|---|---|
| BYDfi (Futures) | BTC-PERPUSDT | 0.078 | 0.01 | 0.00950 | 22,315,395,040 | 5,871,535,452 |
| Coincall | BTC-USD | 0.039 | 0.01 | 0.00950 | 9,373,823,782 | 52,693,635 |
| OrangeX Futures | BTC-USDT-PERPETUAL | 0.080 | 0.00 | 0.09880 | 8,701,437,530 | 23,591,818,081 |
| Binance (Futures) | BTCUSDT | 0.055 | 0.01 | -0.00186 | 7,773,961,834 | 14,732,214,525 |
| Gate.io (Futures) | BTC_USDT | 0.052 | 0.01 | -0.00700 | 7,388,226,593 | 4,481,910,934 |
| Bybit (Futures) | BTCUSDT | 0.095 | 0.01 | 0.00889 | 4,931,708,027 | 7,279,318,355 |
| Bitunix Futures | BTC_USDT | 0.050 | 0.01 | -0.00212 | 4,742,029,424 | 8,193,168,858 |
| Deepcoin (Derivatives) | BTCUSDT | 0.099 | 0.01 | 0.01095 | 4,454,700,565 | 11,228,405,980 |
| HTX Futures | BTC-USDT | 0.067 | 0.01 | -0.02173 | 3,420,524,695 | 785,126,628 |
| Bitmart Futures | BTCUSDT | 0.030 | 0.01 | -0.00291 | 3,179,178,651 | 7,710,857,841 |
| MEXC (Futures) | BTC_USDT | 0.049 | 0.01 | -0.00170 | 2,984,597,290 | 4,833,005,299 |
| CoinW (Futures) | BTC/USDT | -0.003 | 0.01 | 0.00081 | 2,684,753,252 | 5,692,444,677 |
| Coincatch Derivatives | BTCUSDT_UMCBL | 0.049 | 0.01 | -0.00102 | 2,548,113,129 | 11,570,253,142 |
| Binance (Futures) | BTCUSD_PERP | -0.015 | 0.01 | -0.02039 | 1,994,373,700 | 1,828,101,207 |
| BTSE (Futures) | BTCPFC | 0.092 | 0.01 | 0.00000 | 1,738,516,781 | 466,080,802 |
| Prime XBT | BTC/USD | 0.000 | 0.02 | 0.00000 | 1,624,076,700 | 40,063,304 |
| PrimeXBT | BTC/USD | 0.000 | 0.01 | 0.00000 | 1,360,393,900 | 59,671,884 |
| WEEX (Futures) | BTC-USDT | 0.000 | 0.01 | 0.00006 | 1,285,582,850 | 4,302,203,720 |
| Toobit Futures | BTC-SWAP-USDT | 0.050 | 0.01 | -0.00300 | 1,282,755,760 | 6,936,288,667 |
| WhiteBIT Futures | BTC_PERP | 0.061 | 0.02 | 0.01000 | 1,276,364,300 | 94,910,080 |
| Hyperliquid (Futures) | BTC-USD | 0.000 | 0.01 | 0.00125 | 1,207,253,415 | 2,674,156,243 |
| Bybit (Futures) | BTCUSD | 0.082 | 0.01 | -0.00680 | 1,190,639,301 | 704,033,008 |
| BitVenus Futures | BTC-SWAP-USDT | 0.000 | 0.01 | 0.00676 | 1,171,627,977 | 4,231,456,379 |
| BVOX (Futures) | BTC-SWAP-USDT | 0.000 | 0.01 | -0.01152 | 1,109,982,669 | 4,222,152,478 |
| Bybit | BTCUSDT | 0.051 | 0.01 | 0.01000 | 1,073,535,970 | 3,330,158,640 |
| C-Trade | BTCUSDT | 0.044 | 0.01 | 0.01000 | 1,056,269,319 | 48,055,085 |
| XT.COM (Derivatives) | BTC_USDT | 0.079 | 0.01 | -0.02706 | 1,016,153,725 | 3,446,721,725 |
| Deribit | BTC-PERPETUAL | 0.043 | 0.01 | -0.00785 | 995,803,950 | 539,296,332 |
| BTCEX (Futures) | BTC-30SEP22 | 0.162 | 0.04 | 0.00630 | 981,441,422 | 846,336,704 |
| BingX (Futures) | BTC-USDT | 0.094 | 0.01 | -0.00190 | 906,909,834 | 1,065,031,787 |
| LBank (Futures) | BTCUSDT | 0.028 | 0.01 | -0.00190 | 800,770,721 | 1,048,615,034 |
| Coincatch Derivatives | BTCUSD_DMCBL | 0.041 | 0.01 | -0.05000 | 769,902,541 | 903,456,893 |
| Bitfinex (Futures) | BTCF0:USTF0 | -0.124 | 0.01 | 0.00588 | 730,579,868 | 96,207,504 |
| Bitget Futures | CMT_BTCUSDT | 0.008 | 0.02 | -0.00136 | 650,218,862 | 2,589,428,358 |
| KuCoin Futures | XBTUSDTM | 0.014 | 0.01 | 0.00130 | 613,156,679 | 516,821,889 |
| BTCEX (Futures) | BTC-24JUN22 | 0.078 | 0.06 | 0.01000 | 600,632,539 | 1,089,317,456 |
| AAX Futures | BTCUSDTFP | 0.000 | 0.07 | 0.20459 | 599,756,558 | 17 |
| Crypto.com Exchange (Futures) | BTCUSD-PERP | 0.002 | 0.01 | 0.00144 | 596,649,396 | 1,114,741,440 |
| FTX (Derivatives) | BTC-PERP | -0.605 | 0.02 | 0.41280 | 556,680,218 | 3,931,839,727 |
| Blofin | BTC-USDT | 0.000 | 0.01 | 0.00243 | 553,791,073 | 4,025,260,254 |
| Binance (Futures) | BTCUSDC | 0.095 | 0.01 | -0.00659 | 538,589,026 | 2,048,708,097 |
| CoinTR Pro (Derivatives) | BTCUSDT | 0.033 | 0.00 | -0.00600 | 518,229,292 | 1,530,139,711 |
| Bybit | BTCUSD | 0.058 | 0.01 | 0.00620 | 445,125,214 | 732,610,774 |
| Bitfinex (Futures) | TBTCF0:USTF0 | 0.175 | 0.12 | 0.00000 | 413,715,764 | 72,274,942 |
| BloFin (Futures) | BTC-USDT | 0.000 | 0.01 | 0.01736 | 389,741,062 | 373,547,754 |
| Bitrue (Futures) | BTC-USDT | -0.034 | 0.01 | -0.00195 | 375,489,243 | 3,084,054,976 |
| BitMEX | XBTUSD | 0.006 | 0.01 | 0.00000 | 343,574,300 | 405,676,611 |
| Toobit Futures | BTC-SWAP-USDC | 0.048 | 0.01 | -0.01010 | 334,352,466 | 1,789,968,425 |
| Bitmart Futures | BTCUSDC | 0.120 | 0.01 | -0.00380 | 329,741,700 | 1,665,162,673 |
| ZBG Futures | BTC_ZUSD | 0.142 | 0.01 | -0.00543 | 324,272,699 | 1,120,235 |
| MEXC Global (Futures) | BTC_USDT | 0.057 | 0.01 | 0.00650 | 320,647,100 | 1,776,779,067 |
| BTCEX (Futures) | BTC-USDT-PERPETUAL | -0.002 | 0.01 | 0.01130 | 302,634,235 | 5,394,013,060 |
| OKEx (Futures) | BTC-USDT-SWAP | -0.032 | 0.01 | 0.00748 | 295,259,300 | 4,325,657,815 |
| C-Trade | BTCUSD | 0.044 | 0.01 | 0.01000 | 290,046,548 | 8,585,645 |
| BTCMEX | BTCUSD | 0.084 | 0.00 | 0.01000 | 289,778,991 | 2,143,017,004 |
| BTCMEX | BTCUSDT | 0.050 | 0.00 | 0.01000 | 289,778,991 | 572,722,079 |
| BingX (Futures) | BTC-USD | 0.093 | 0.01 | 0.00550 | 272,692,788 | 885,611,400 |
| KCEX (Futures) | BTC_USDT | 0.050 | 0.00 | 0.00510 | 251,219,454 | 6,778,989,590 |
| OKEx (Futures) | BTC-USD-SWAP | -0.019 | 0.01 | -0.00814 | 205,257,500 | 679,545,460 |
| AAX Futures | BTCUSDFP | 0.307 | 4.21 | 0.04903 | 194,079,416 | 274,981,140 |
| BitZ (Futures) | 101 | 0.023 | 0.12 | 0.00000 | 147,712,494 | 2,328,854,320 |
| Bitget Futures | BTCPERP_CMCBL | 0.047 | 0.01 | 0.00300 | 134,198,258 | 136,527,981 |
| XT.COM (Derivatives) | BTC_USD | 0.074 | 0.01 | -0.00880 | 125,034,000 | 1,156,107,000 |
| Bitforex (Futures) | SWAP-USD-BTC | -0.034 | 0.01 | 0.01631 | 121,995,305 | 513,073,592 |
| dYdX Perpetual | BTC-USD | -0.021 | 0.01 | 0.00127 | 117,728,497 | 73,914,013 |
| dYdX Chain (Cosmos) | BTC-USD | -0.029 | 0.00 | 0.00248 | 114,587,005 | 164,541,379 |
| MXC (Futures) | BTC_USD | 0.018 | 0.06 | 0.02000 | 111,583,200 | 1,212 |
| Hyperliquid | BTC-USD | 0.017 | 0.01 | 0.00044 | 109,695,569 | 310,749,542 |
| ZBG Futures | BTC_USDT | 0.099 | 0.01 | -0.00734 | 105,190,970 | 1,418,028 |
| BTSE (Futures) | BTC-PERP | 0.007 | 0.01 | 0.01010 | 103,920,866 | 376,909,800 |
| BYDfi (Futures) | BTC-PERPUSD | 0.219 | 0.01 | 0.00363 | 100,228,840 | 1,546,189,788 |
| MEXC (Futures) | BTC_USD | 0.045 | 0.01 | -0.00370 | 88,318,800 | 46,483,046 |
| Phemex (Futures) | BTC-PERPUSDT | 0.049 | 0.01 | -0.00225 | 87,319,260 | 89,300,342 |
| CoinEx (Futures) | BTC-USDT | 0.011 | 0.01 | 0.00000 | 86,807,381 | 222,331,747 |
| Fairdesk Derivatives | BTC-USDT-PERP | 0.014 | -0.13 | 0.01000 | 86,311,432 | 1,316,955,715 |
| KuCoin Futures | XBTUSDM | -0.023 | 0.01 | -0.00340 | 85,048,659 | 7,133,890 |
| Phemex (Futures) | BTCUSD | 0.027 | 0.01 | 0.01000 | 83,598,314 | 696,132,762 |
| BTCEX (Futures) | BTC-31MAR23 | -0.076 | 0.01 | 0.00030 | 76,111,971 | 524,528,810 |
| BTCEX (Futures) | BTC-30DEC22 | 0.221 | 0.02 | 0.00030 | 75,710,085 | 322,017,007 |
| Huobi Futures | BTC-USDT | 0.021 | 0.01 | 0.00655 | 74,048,027 | 665,283,615 |
| DexToro | BTC-PERP | 0.027 | 0.00 | 8.48994 | 69,210,129 | 4,903 |
| dYdX Chain | BTC-USD | -0.006 | 0.00 | -0.00046 | 66,632,063 | 303,697,344 |
| Bybit (Futures) | BTCPERP | 0.047 | 0.02 | 0.00293 | 65,277,760 | 77,655,221 |
| OX.FUN | BTC-USD-SWAP-LIN | -0.645 | 0.01 | 0.00000 | 63,351,560 | 161,159,303 |
| MXC (Futures) | BTC_USDT | -0.023 | 0.03 | 0.00297 | 63,213,940 | 113,293,123 |
| BingX (Futures) | BTC-USDC | 0.241 | 0.01 | 0.00980 | 62,160,696 | 72,940,555 |
| Biconomy (Futures) | BTC_USDT | 0.022 | 0.00 | 0.01010 | 60,674,910 | 2,840,447,312 |
| MyCoinStory | BTCUSDT | -0.016 | 0.02 | 0.01000 | 51,117,733 | 18,546,549 |
| MCS | BTCUSDT | -0.159 | 0.12 | 0.01000 | 50,901,999 | 13,793,324 |
| Bitget Futures | BTCUSD_DMCBL_250328 | -2.193 | 0.01 | 0.00000 | 50,031,819 | 3,237,695 |
| Stormgain Futures | BTC-PERPUSDT | 0.000 | 0.03 | 0.00400 | 45,097,933 | 19,527,775 |
| Globe (Derivatives) | BTC-PERP | -0.023 | 0.04 | 0.00000 | 44,249,487 | 3,020,975 |
| Drift Protocol | BTC-PERP | 0.000 | 0.00 | 0.00001 | 42,793,238 | 46,392,519 |
| Gate.io (Futures) | BTC_USD | 0.020 | 0.06 | 0.01000 | 42,670,270 | 36,102,514 |
| Bitget Futures | BTCUSD_DMCBL_241227 | -1.573 | 0.01 | 0.00000 | 42,117,500 | 4,360,592 |
| MUFEX | M1BTCUSDT | 2.704 | 0.02 | -0.05000 | 41,742,343 | 504,900,388 |
| HTX Futures | BTC-USD | 0.007 | 0.02 | 0.01000 | 37,618,700 | 24,029,587 |
| Ourbit (Futures) | BTC_USDT | 0.054 | 0.01 | 0.01000 | 35,947,899 | 14,040,121,374 |
| Flipster | BTC-USDT.PERP | 0.028 | 0.03 | 0.01000 | 34,751,689 | 201,521,555 |
| HashKey Global (Futures) | BTCUSDT-PERPETUAL | -0.008 | 0.01 | 0.01000 | 34,172,502 | 74,232,953 |
| Huobi Futures | BTC-USD | 0.069 | 0.01 | -0.01601 | 33,280,700 | 43,786,544 |
| Kwenta Derivatives | BTC-PERP | 0.000 | 0.00 | 0.00000 | 32,519,272 | 16,416,430 |
| Phemex | BTCUSD | -0.058 | 0.10 | 0.05913 | 31,597,323 | 341,056,663 |
| Bitget Futures | BTCUSD_DMCBL_240628 | -0.721 | 0.01 | 0.00000 | 29,892,045 | 8,417,884 |
| Binance (Futures) | BTCBUSD | 0.041 | 0.01 | 0.01000 | 29,107,154 | 99,226,956 |
| dYdX Perpetual (Ethereum) | BTC-USD | -0.087 | 0.77 | 0.02598 | 26,626,042 | 13,895,695 |
| SphereX | BTC-USDT | 0.276 | 0.20 | 0.00050 | 23,869,330 | 35,040 |
| ApeX Pro | BTCUSDC | -0.114 | 0.01 | 0.00125 | 23,672,835 | 77,313,252 |
| Bitget Futures | BTCUSD | 0.004 | 0.01 | 0.00469 | 22,994,034 | 89,974,754 |
| MUFEX | BTCUSDT | 0.051 | 0.02 | 0.01000 | 18,367,562 | 552,307,452 |
| WOO X (Futures) | PERP_BTC_USDT | 0.013 | 0.01 | -0.00674 | 17,690,756 | 136,376,377 |
| BitZ (Futures) | 201 | -0.009 | 0.13 | 0.00000 | 17,312,302 | 268,684,298 |
| BaseFEX | BTCUSDT | -0.079 | 0.04 | 0.01000 | 17,272,631 | 18,032,837 |
| Hopex | BTCUSDT | -2.019 | 0.00 | 0.00000 | 16,394,223 | 135,611,173 |
| GMX Derivatives (Avalanche) | BTC_USD | 0.000 | 0.00 | 0.00000 | 15,573,496 | 170,105 |
| Bitget Futures | BTCUSD_DMCBL_240927 | -0.016 | 0.01 | 0.00000 | 14,909,656 | 2,485,886 |
| RabbitX | BTC-USD | -0.026 | 0.02 | 0.00408 | 14,698,692 | 104,102,615 |
| CoinEx (Futures) | BTC-USD | -0.024 | 0.03 | 0.01070 | 14,067,530 | 3,691,146 |
| Kraken (Futures) | PI_XBTUSD | 0.072 | 0.03 | 0.00000 | 12,562,123 | 1,417,926 |
| OKX (Futures) | BTC-USDC-SWAP | 0.004 | 0.01 | 0.00590 | 12,033,089 | 10,178,085 |
| GMX Derivatives (Arbitrum) | BTC_USD | 0.000 | 0.00 | 0.00000 | 10,134,202 | 5,403,516 |
| Hopex | BTCUSD | -7.210 | 0.00 | 0.00000 | 9,027,980 | 81,588,839 |
| ApeX Pro | BTCUSDT | -0.033 | 0.02 | 0.00125 | 8,770,358 | 71,193,064 |
| HitBTC (Derivatives) | BTCUSDT_PERP | -0.016 | 0.01 | -0.02074 | 8,381,006 | 4,305,565 |
| Deribit | BTC_USDC-PERPETUAL | 0.005 | 0.03 | -0.00083 | 8,051,551 | 19,116,813 |
| MEXC Global (Futures) | BTC_USD | 0.040 | 0.01 | 0.01000 | 7,838,100 | 1,783 |
| Equation | BTC-USDT | -0.001 | 0.00 | 0.00125 | 7,827,920 | 55,791,198 |
| Aevo | BTC-PERP | 0.000 | 0.01 | 0.00220 | 7,725,229 | 33,056,305 |
| dYdX Perpetual | PBTC-USDC | 0.090 | 0.05 | 0.00001 | 7,554,375 | 1,121,936 |
| WOO Network (Futures) | PERP_BTC_USDT | -0.000 | 0.02 | 0.00097 | 5,930,153 | 247,467,895 |
| BitZ (Futures) | 1 | 0.055 | 0.11 | 0.00000 | 5,427,012 | 84,214,110 |
| Gemini Derivatives | BTCGUSDPERP | -0.330 | 0.04 | 7.19455 | 5,102,698 | 5,126,686 |
| Kumex | XBTUSDM | -0.052 | 0.11 | 0.01000 | 4,542,007 | 12,254,524 |
| BitMEX | BCHUSD | -0.071 | 0.05 | 0.02690 | 4,286,551 | 2,071,978 |
| Bit.com | BTC-PERPETUAL | 0.197 | 0.02 | 0.00000 | 4,090,270 | 6,338,440 |
| Levana Perps (Osmosis) | BTC_USD | 0.000 | 0.00 | 42.29814 | 3,663,717 | 23,153 |
| BIT (Futures) | COIN-M:BTC-PERPETUAL | 2.758 | 0.11 | 0.00000 | 3,452,014 | 2,665,286,386 |
| Kine Protocol (Derivatives) | BTC-PERP | 0.000 | 0.00 | -0.01870 | 3,416,738 | 61,016,415 |
| Perpetual protocol | BTC_USDC | 0.000 | 0.00 | -0.02000 | 2,913,536 | 0 |
| Bitget Futures | BTCUSD_DMCBL_240329 | -1.560 | 0.01 | 0.00000 | 2,736,983 | 778,954 |
| Perpetual Protocol | BTC_USD | 0.000 | 0.00 | 0.00008 | 2,465,551 | 2,084,651 |
| BitMax (Futures) | BTC-PERP | -0.105 | 0.00 | 0.04963 | 2,439,673 | 7,922,145 |
| Bitget Futures | BTCUSD_DMCBL_221230 | -0.240 | 0.01 | 0.00000 | 2,369,221 | 714,737 |
| Paradex | BTC-USD-PERP | -0.044 | 0.01 | 0.05483 | 2,271,081 | 99,476,809 |
| AscendEX (BitMax) (Futures) | BTC-PERP | 0.007 | 0.00 | -0.02600 | 2,137,177 | 9,012,799,813 |
| BitZ (Futures) | BTC_USDT | -0.001 | 0.03 | 0.00000 | 2,082,641 | 11,464,759 |
| Kumex | XBTUSDTM | 0.058 | 0.11 | 0.01000 | 1,999,642 | 1,926 |
| Helix (Futures) | BTC/USDT PERP | -0.117 | 0.03 | 0.00570 | 1,986,843 | 40,124,108 |
| Mango Markets (Derivatives) | BTC-PERP | -0.092 | 0.28 | 0.00583 | 1,573,348 | 63 |
| Bitget Futures | BTCUSD_DMCBL_230331 | -1.312 | 0.02 | 0.00000 | 1,314,696 | 861,703 |
| Bithumb (Futures) | BTC-PERP | -0.099 | 0.13 | 0.04236 | 1,300,023 | 7,381,074 |
| BigONE Futures | BTCUSD | -0.170 | 0.02 | 0.01000 | 1,248,981 | 13,918,000 |
| Bitget Futures | BTCUSD_DMCBL_230630 | 0.176 | 0.01 | 0.00000 | 1,176,979 | 1,122,873 |
| Bitget Futures | BTCUSD_DMCBL_231229 | -0.735 | 0.02 | 0.00000 | 1,074,488 | 1,617,290 |
| BigONE Futures | BTCUSDT | -0.194 | 0.02 | 0.00000 | 952,887 | 60,790,167 |
| ZB (Derivatives) | BTC_USDT | 0.994 | 0.13 | 0.01000 | 848,581 | 774,149,658 |
| dYdX Perpetual (L1) | PBTC-USDC | 0.128 | 77.50 | 0.00000 | 843,580 | 410,367 |
| Bit.com (Futures) | COIN-M:BTC-PERPETUAL | 0.079 | 0.03 | 0.00000 | 789,320 | 142,086,793,600 |
| ZB (Derivatives) | BTC_QC | -0.010 | 0.06 | 0.01000 | 666,061 | 20,640,169 |
| Opnx Derivatives | BTC-USDT-SWAP-LIN | -0.195 | 0.00 | 0.00008 | 620,475 | 36,257,873 |
| Powertrade (Derivatives) | BTC-USD-PERPETUAL | -0.214 | 0.04 | 0.73000 | 618,883 | 147 |
| Holdstation DeFutures | BTC - USD | 0.000 | 0.00 | -0.00000 | 570,501 | 8,988,487 |
| Bit.com (Futures) | BTC-PERPETUAL | 0.014 | 0.06 | 0.00000 | 503,410 | 4,689,380 |
| Bitmart Futures | 1 | 0.048 | 0.01 | -0.00151 | 416,497 | 660,863,582 |
| Crypto.com Exchange (Futures) | BTCUSD-220325 | 0.086 | 0.05 | 0.00000 | 415,158 | 359,471 |
| BaseFEX | BTCUSD | 0.013 | 0.04 | 0.01000 | 314,593 | 3,087,350 |
| Crypto.com Exchange (Futures) | BTCUSD-220225 | 0.234 | 0.22 | 0.00000 | 291,801 | 203,876 |
| Bit.com (Futures) | BTC-USDT-PERPETUAL | -0.065 | 0.06 | 0.00000 | 243,717 | 58,703 |
| Bitget Futures | BTCUSD_DMCBL_230929 | 0.051 | 0.02 | 0.00000 | 186,579 | 753,334 |
| MCDEX (BSC) | BTC-BUSD | 0.000 | 0.80 | 0.06702 | 146,347 | 9,391 |
| Crypto.com Exchange (Futures) | BTCUSD-211231 | 0.017 | 0.11 | 0.00000 | 86,159 | 148,680 |
| Orderly Network (Derivatives) | BTC-PERP | -0.074 | 0.02 | 0.01009 | 75,163 | 478,341 |
| Kraken (Futures) | PI_BCHUSD | -0.344 | 0.18 | 0.00001 | 74,467 | 37,269 |
| Crypto.com Exchange (Futures) | BTCUSD-220624 | -0.156 | 0.02 | 0.00000 | 70,307 | 136,184 |
| BitZ (Futures) | BTC_USD | -0.001 | 0.08 | 0.00000 | 50,787 | 296,651 |
| Crypto.com Exchange (Futures) | BTCUSD-220930 | -0.983 | 0.04 | 0.00000 | 44,827 | 376,080 |
| Bitmart Futures | BTCUSD | 0.043 | 0.01 | 0.01000 | 21,518 | 47,186 |
| Crypto.com Exchange (Futures) | BTCUSD-220527 | -0.093 | 0.10 | 0.00000 | 21,324 | 18,506 |
| MCDEX (Arbitrum) | BTC-USDC | -2.771 | 0.20 | -0.00005 | 18,218 | 4,556 |
| Crypto.com Exchange (Futures) | BTCUSD-220128 | 0.061 | 0.10 | 0.00000 | 17,046 | 60,591 |
| Crypto.com Exchange (Futures) | BTCUSD-220429 | 0.054 | 0.10 | 0.00000 | 7,160 | 7,059 |
| Crypto.com Exchange (Futures) | BTCUSD-220729 | -0.526 | 0.05 | 0.00000 | 5,735 | 3,564 |
| Phemex (Futures) | BTC-PERPUSD | 0.082 | 0.01 | -0.04619 | 3,587 | 173,080,313 |
| Phemex (Futures) | BTC-PERP | 0.081 | 0.01 | -0.01589 | 3,032 | 246,323,841 |
| Bit.com (Futures) | USD-M:BTC-USD-PERPETUAL | 0.143 | 0.02 | 0.00000 | 341 | 40,440,020 |
| Alpha5 | XBTUSD | 7.706 | 0.57 | 0.00003 | 292 | 11,194 |
| Opnx Derivatives | BTC-OUSD-SWAP-LIN | 0.078 | 0.00 | -0.00001 | 32 | 58,727,194 |
| BIT (Futures) | USD-M:BTC-USD-PERPETUAL | -1.636 | 0.06 | 0.01000 | 3 | 1,223,785 |
| BTCC Futures | BTCUSDT | -0.011 | 0.02 | 0.00000 | 0 | 4,273,868,271 |
| Biki (Futures) | 28 | -0.020 | 0.13 | 0.00997 | 0 | 4,057,314,709 |
| Deepcoin (Derivatives) | 4BTCUSDT | 0.053 | 0.02 | -0.00147 | 0 | 2,865,237,954 |
| BTCEX (Futures) | BTC-25MAR22 | -0.302 | 0.01 | 0.01000 | 0 | 1,631,238,351 |
| HBTC (Futures) | BTC-PERP-REV | -0.004 | 0.01 | -0.02077 | 0 | 1,586,088,571 |
| CoinTiger (Futures) | BTCUSDT | 0.061 | 0.01 | 0.00103 | 0 | 1,507,591,401 |
| Bitget Futures | CMT_BTCSUSDT | -0.003 | 0.01 | -0.01086 | 0 | 805,185,697 |
| BHEX (Futures) | BTC-PERP-REV | -0.014 | 0.01 | -0.01084 | 0 | 661,137,486 |
| BHEX (Futures) | BTC-PERP-BUSDT | -0.014 | 0.01 | 0.00422 | 0 | 544,266,307 |
| Biki (Futures) | 11 | -0.022 | 0.10 | 0.00993 | 0 | 460,193,559 |
| Bybit | BTCUSDM21 | -1.335 | 0.01 | -0.04060 | 0 | 329,470,782 |
| BitZ (Futures) | BTC_DKKT | 2.155 | 0.07 | 0.00000 | 0 | 297,641,032 |
| Bybit | BTCUSDU21 | -6.760 | 0.01 | -0.04060 | 0 | 205,364,120 |
| HBTC (Futures) | BTC-PERP-BUSDT | 0.051 | 0.01 | -0.00284 | 0 | 203,428,138 |
| BitZ (Futures) | 301 | 0.042 | 0.12 | 0.00000 | 0 | 186,963,949 |
| Deepcoin (Derivatives) | BTCUSD | 0.024 | 0.01 | 0.01202 | 0 | 157,977,253 |
| BitMake Futures | BTCUSDT | 0.003 | 0.01 | 0.00000 | 0 | 144,180,686 |
| Biki (Futures) | 1 | 1.440 | 0.02 | -0.16641 | 0 | 140,945,714 |
| Biki (Futures) | 29 | -0.020 | 0.12 | 0.01544 | 0 | 107,521,811 |
| Biki (Futures) | 17 | -0.019 | 0.11 | 0.01790 | 0 | 99,640,498 |
| Bitflyer (Futures) | FX_BTC_JPY | 0.000 | 0.03 | 0.00000 | 0 | 64,803,109 |
| Binance (Futures) | BTCUSDT_210326 | -4.217 | 0.18 | 0.00000 | 0 | 55,708,338 |
| GMO Japan (Futures) | BTC_JPY | 0.000 | 0.02 | 0.00000 | 0 | 48,329,400 |
| Toobit Derivatives | BTC-SWAP-USDT | 0.046 | 0.01 | 0.01000 | 0 | 43,968,533 |
| Biki (Futures) | 16 | 0.027 | 0.11 | -0.03174 | 0 | 43,147,817 |
| HBTC (Futures) | BTC-SWAP | -0.019 | 0.07 | -0.00668 | 0 | 39,112,668 |
| HBTC (Futures) | BTC-SWAP-USDT | -0.064 | 0.02 | 0.01014 | 0 | 30,321,688 |
| Crypto.com (Futures) | BTCUSD-PERP | 0.000 | 0.05 | 0.00000 | 0 | 28,463,889 |
| ZBG Futures | BTC_USD-R | 0.243 | 0.01 | -0.00638 | 0 | 27,563,179 |
| Delta Exchange | BTCUSDT | -0.176 | 0.01 | 0.05600 | 0 | 23,882,819 |
| Biki (Futures) | 25 | -0.023 | 0.12 | 0.00998 | 0 | 15,249,112 |
| Biki (Futures) | 27 | -0.020 | 0.12 | 0.00998 | 0 | 10,865,415 |
| Biki (Futures) | 26 | -0.023 | 0.15 | 0.00993 | 0 | 10,138,308 |
| Biki (Futures) | 21 | -0.024 | 0.14 | 0.00997 | 0 | 10,103,314 |
| Biki (Futures) | 15 | -0.021 | 0.12 | 0.00997 | 0 | 9,924,614 |
| Delta Exchange | BTCUSD | -0.116 | 0.01 | 0.06750 | 0 | 8,511,155 |
| ZBG Futures | BTC_USD-R20190927 | 0.000 | 0.11 | 0.00000 | 0 | 8,043,860 |
| Biki (Futures) | 24 | -0.028 | 0.17 | 0.00166 | 0 | 6,828,717 |
| AQX (Derivatives) | BTC-USDT.PERP | 0.013 | 0.02 | 0.01000 | 0 | 6,775,953 |
| Biki (Futures) | 19 | -0.121 | 0.11 | -0.00003 | 0 | 6,584,926 |
| Biki (Futures) | 18 | 0.063 | 0.12 | 0.01940 | 0 | 6,486,261 |
| Injective Exchange (Futures) | BTC/USDT PERP | 0.224 | 0.09 | 0.00760 | 0 | 4,008,293 |
| Bibox (Futures) | 4BTC_USDT | 0.000 | 0.01 | 0.00000 | 0 | 2,521,360 |
| MEXC Global (Futures) | BTC_MUSDT | 0.035 | 94.74 | 0.00000 | 0 | 1,156,657 |
| Crypto.com (Futures) | BTCUSD-210625 | 0.000 | 0.06 | 0.00000 | 0 | 868,907 |
| MCDEX (BSC) | BTC-USX | -0.548 | 0.00 | 0.00000 | 0 | 561,379 |
| ZBG Futures | BTC_USD-R20190628 | 0.000 | 0.11 | 0.00000 | 0 | 311,190 |
| Injective Pro (Futures) | BTC/USDT PERP | -0.451 | 0.03 | 0.00040 | 0 | 292,561 |
| Biki (Futures) | 14 | -0.021 | 0.14 | 0.00998 | 0 | 280,646 |
| Bitfinex (Futures) | BTCF0:EUTF0 | 0.019 | 0.05 | 0.00165 | 0 | 160,162 |
| BHEX (Futures) | BTC-SWAP-USDT | 0.004 | 0.12 | -0.02497 | 0 | 124,255 |
| Crypto.com Exchange (Futures) | BTCUSD-210924 | 0.183 | 0.13 | 0.00000 | 0 | 114,430 |
| BHEX (Futures) | BTC-SWAP | 0.052 | 0.07 | -0.01350 | 0 | 39,659 |
| MCDEX | 00002 | 0.000 | 0.00 | 0.00000 | 0 | 34,889 |
| Crypto.com Exchange (Futures) | BTCUSD-211126 | 0.065 | 0.09 | 0.00000 | 0 | 25,256 |
| EQONEX (Perpetual) | 25 | -2.339 | 7.41 | -80.48430 | 0 | 20,713 |
| CoinEx (Futures) | BTC-USDC | -0.237 | 0.11 | -0.23637 | 0 | 18,258 |
| Bitmart Futures | 32895 | 0.043 | 0.03 | 0.01690 | 0 | 15,640 |
| ACDX Futures | BTC-PERP | -1.082 | 0.04 | 0.00000 | 0 | 13,950 |
| Crypto.com (Futures) | BTCUSD-210924 | 0.000 | 0.12 | 0.00000 | 0 | 9,349 |
| Crypto.com (Futures) | BTCUSD-211231 | 0.000 | 0.24 | 0.00000 | 0 | 8,974 |
| CoinFLEX (Futures) | BTC-USD-SWAP-LIN | 0.000 | 37.00 | 0.00000 | 0 | 5,757 |
| Crypto.com Exchange (Futures) | BTCUSD-210625 | 0.000 | 0.33 | 0.00000 | 0 | 5,475 |
| MCDEX | BTC-USDC | -0.369 | 0.12 | 0.03156 | 0 | 2,262 |
| Liquid Perpetuals | P-BTCUSD | -1.188 | 1.19 | 0.00500 | 0 | 1,212 |
| BitZ (Futures) | BTC_USDT_BZ | -1.676 | 0.04 | 0.00000 | 0 | 868 |
| Biki (Futures) | 2 | -0.170 | 0.11 | -0.13722 | 0 | 406 |
| DueDEX | BTCUSD | 0.663 | 0.00 | 0.01000 | 0 | 134 |
| DueDEX | BTCUSDT | -2.508 | 0.00 | 0.01000 | 0 | 126 |
| Liquid Perpetuals | P-BTCJPY | -2.114 | 1.00 | 0.04700 | 0 | 105 |
| Binance JEX (Futures) | BTCUSDT | 0.491 | 0.86 | 0.01000 | 0 | 10 |
| MCDEX (BSC) | BTC-ETH | 0.310 | 0.02 | 0.00000 | 0 | 0 |
| Stormgain Futures | BTC-PERPDAI | NaN | 0.04 | 0.00400 | 0 | 0 |
| Stormgain Futures | BTC-PERPUSDC | NaN | 0.11 | 0.00400 | 0 | 0 |
| Stormgain Futures | BTC-PERPUDAI | NaN | 0.11 | 0.00400 | 0 | 0 |
| Prime XBT | BTC/USDC | 0.000 | 0.00 | 0.00000 | 0 | 0 |
| Prime XBT | BTC/USDT | 0.000 | 0.00 | 0.00000 | 0 | 0 |
| CoinFLEX (Futures) | BTC-USD-SWAP-LIN_LIQ | 0.000 | 0.00 | 0.00000 | 0 | 0 |
| CoinFLEX (Futures) | BTC-USD-SWAP-LIN-LIQ | 0.000 | 0.00 | 0.00000 | 0 | 0 |
Future Contracts on Indexes with Bitcoin embeded
Another way of hedging positions for the mid-term is using future contracts on indexes with the asset price as a component of the the index.
Unfortunatelly, no future contract on index consisting of BTC exists.
Perpetual Swaps on Indexes with Bitcoin component
Sometime the best option to hedge Bitcoin is to short with perpetual contract idefinitely.
Earning swaps can be in some cases crucial for the positioning.
| Exchange | Symbol | Premium (-) Discount (+) |
Spread | Funding Rate | Open Intrest | 24h Volume |
|---|---|---|---|---|---|---|
| BTSE (Futures) | BBCXPFC | -1.309 | 0.59 | 0.00000 | 0 | 30,866 |
Other crypto related Indexes (Perpetual Swaps)
There are several specyfic cryptocurrencies market Indexes which can be considered as a hedge
for the trading positions. As Bitcoin take the lion's share of the whole market capitalisation,
BTC dominance is one of the most notable.
Even more than on other markets, Bitcoin volatility influences almost all the trading pairs
traded with both BTC and altcoins at the same moment.
| Exchange | Symbol | Premium (-) Discount (+) |
Spread | Funding Rate | Open Intrest | 24h Volume |
|---|---|---|---|---|---|---|
| BingX (Futures) | BTCDOM-USDT | -0.003 | 0.01 | -0.01020 | 542,271 | 1,355,399 |
| Bitfinex (Futures) | BTCDOMF0:USTF0 | 0.095 | 0.15 | -0.05461 | 502,413 | 259,229 |
| Bitfinex (Futures) | TBTCDOMF0:USTF0 | 0.060 | 0.17 | -0.11774 | 163,844 | 109,181 |
| Binance (Futures) | BTCDOMUSDT | 0.072 | 0.01 | -0.02318 | 3,779 | 1,738,556 |
| BTSE (Futures) | BDIPFC | -0.143 | 0.30 | 0.00000 | 2,482 | 41,193 |
| BTSE (Futures) | BTCDOMPFC | 0.600 | 3.35 | 0.00000 | 0 | 5,990,922 |
Negative correlation with Bitcoin
It can be an awkward exercise to find liquid, negatively correlated altcoins in the cryptocurrency market.
The strongest negatively correlated crypto tokens (returns in USD) in a long term are:
| DASH | |
|---|---|
| BTC | -0.02 |
Check correlations with Bitcoin or use a custom form to check BTC changes in correlation coefficient with other token.
Stable coins or non-crypto assets can also be considered for hedging positions.