Premium / basis
The premium is (mark − index) ÷ index.
Definition
The premium is (mark − index) ÷ index. A positive premium means the perpetual trades above the spot index; it is one of the inputs of the funding rate.
In one sentence: Premium / basis: how far the perpetual’s mark price trades above (+) or below (−) the index or oracle price of the same coin.
Current data · all markets
updated 31s ago (2026-11-05 10:13 UTC)| coin | venue | premium | Funding APR |
|---|---|---|---|
| io:ANTH | Hyperliquid | +0.663% | +82.5% |
| IDOL | Binance | −0.427% | +11.0% |
| xyz:NATGAS | Hyperliquid | +0.421% | +215.9% |
| LITE | Binance | +0.332% | +38.9% |
| LYN | Binance | −0.295% | +11.0% |
| SOON | Binance | +0.289% | +11.0% |
| NATGAS | Binance | +0.241% | +182.0% |
| ZHONGJI | Binance | +0.214% | +54.6% |
From the data shown above: First row: io:ANTH, venue Hyperliquid, premium +0.663%, Funding APR +82.5%.
How we compute it
Formula
premium = (mark − index) ÷ index- Hyperliquid: mark versus oracle price (market contexts, every 30 seconds). Binance and Bybit: mark versus their published index price (every 60 seconds).
How to read it
- A persistent positive premium usually comes with positive funding, a negative one with negative funding.
Common mistakes
- Comparing premiums across venues as if they shared one index. Each venue uses its own index or oracle.
Honest limits
- Index definitions differ by venue (different spot exchanges and weights).
Questions and answers
Are premium and basis the same thing?
On Blockmetric yes: both name how far the perpetual’s mark trades from the index or oracle price of the same coin, as (mark − index) ÷ index.
Use it live
Step by step
API
Every key uses the data of its plan; see the developer docs for parameters and examples. Developers · API docs
Plan availability
- Free: every coin, current values and 30 days of history.
- Pro and above: history up to 1095 days, CSV export.
- API: free developer key (10/min, 1,000/day, free-tier data, non-commercial) · API Dev and above (60/min, 50,000/day).
Terms defined here
Premium / basis
Data as of 2026-11-05 10:13 UTC. Methodology. Facts from public data. Not investment advice. · Report incorrect data