Futures Basis in Prop Research: Annualisation Is Not Cash Received
A futures basis describes a relationship between two specified prices. Turning that spread into an annualised number adds assumptions about time and convention. Neither number is a received account profit or a guaranteed evaluation return.
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Match the two price observations
Record the exact spot reference, dated futures contract, observation instant and price currency. The maturity or comparison endpoint belongs to the contract definition. A perpetual product with funding should not silently inherit a dated-futures expiry calculation.
HashHedge describes its own Crypto + TradFi route. Access to a specific dated contract is not established by an underlying name. Check the actual instrument catalogue and conditions before trying to transfer an exchange-contract calculation into that product.
Annualise an explicitly fictional spread
Suppose spot is 100, a matching fictional dated future is 100.5 and the supplied remaining period is 30 days. Relative basis is (100.5/100 − 1) = 0.5%. Under a simple 365-day annualisation convention, the indication is 0.5% × 365/30, approximately 6.0833%.
The 6.0833% is a scaled indication, not a return received for 30 days or a promise that the spread can be captured. It excludes costs, execution, financing, changing prices and contract constraints. Another day-count or compounding convention answers a different question.
| Field | Value | Scope |
|---|---|---|
| Spot / dated future | 100 / 100.5 | Matching supplied observations |
| Remaining period | 30 days | Teaching input |
| Relative basis | 0.5% | Price relationship |
| Simple 365-day indication | ≈ 6.0833% | Not a realised or guaranteed return |
Keep the account ledger independent
This site’s earlier basis resource retains the window and price units. A Singapore diary conversion can locate the original observation, but it does not extend the remaining term or create a new price. Save the original timestamp alongside the display.
An actual evaluation result requires account movements and the full equity path. The optional sponsored HashHedge link offers current programme information, not a basis trade, coordinated hedge or promised annual yield. No position or account is opened here.
Sources and rule dates
- HashHedge: challenge types
Checked 2026-10-23. Selected published description only. Worked numbers and event records are fictional; no actual provider account, search result, live price, eligibility or payment is established. - HashHedge: product FAQ
Checked 2026-10-23. Selected published description only. Worked numbers and event records are fictional; no actual provider account, search result, live price, eligibility or payment is established. - HashHedge: terms and conditions
Checked 2026-10-23. Selected published description only. Worked numbers and event records are fictional; no actual provider account, search result, live price, eligibility or payment is established.