# Bitcoin Futures Premium Does Not Establish a Spot-Price Floor

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/45988
Published: 2026-11-01T21:23:32.000Z
Updated: 2026-11-01T21:23:32.000Z
Section: Investing

> Deribit’s Nov. 1 curve showed annualized rates of 5.52% to 5.77% through September 2027, measured against the perpetual contract.

Bitcoin (BTC) futures traded above Deribit’s perpetual contract on Sunday, Nov. 1, with annualized premiums near 5.5% to 5.8% through September 2027. The spread describes futures pricing at that moment but does not establish a floor for Bitcoin’s spot price.

At 3:10 p.m. ET (20:10 UTC), the perpetual contract’s mark was $77,730.16. The dated futures in the snapshot ranged from $78,029.84 for the Nov. 27, 2026, contract to $81,682.63 for the Sept. 24, 2027, contract.

The Nov. 27 contract carried a 0.39% premium over the perpetual mark and a 5.52% annualized basis. For the Dec. 25 contract, the mark was $78,387.63, a 0.85% premium and a 5.77% annualized basis. The March 26, 2027, contract was marked at $79,458.91, with a 2.22% premium and a 5.62% annualized basis. The June 25 contract was $80,567.17, with a 3.65% premium and a 5.66% annualized basis. The Sept. 24 contract’s premium was 5.08%, with a 5.68% annualized basis.

The quoted premium grew across the maturities, while the annualized rates stayed within a 0.25 percentage-point range. The annualized figures adjust each price gap for the time remaining until the contract’s 08:00 UTC expiry. A larger dollar quote for a later-dated contract therefore does not mean the annualized basis rises at the same pace.

The basis compares a dated futures contract with a perpetual contract. It is not a comparison with a spot-market price. Annualizing the gap expresses it as a rate over the contract’s remaining term; it does not predict where Bitcoin will trade or show whether buyers will defend a particular spot level.

The latest available Secured Overnight Financing Rate (SOFR) was 3.94% for Oct. 29. The futures rates were roughly 1.6 to 1.8 percentage points higher, but the comparison spans contracts with weeks to months remaining and an overnight financing rate.

The perpetual contract’s rolling 24-hour trading range in the same snapshot was $77,324 to $78,166. That range describes trades in the perpetual market over the preceding day. Neither it nor the futures curve establishes whether Bitcoin’s spot price will hold at a specific level.