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Cash & Carry

Binance Quarterly

How It Works

When quarterly futures trade above spot (contango), short futures + long spot, hold to expiry when prices converge, earning the basis. Essentially 'lending' spot for fixed yield, like a bond hold-to-maturity strategy.

Suitable Platforms

Suitable exchanges: Binance, OKX quarterly futures. Suitable for patient medium-term capital, holding period typically 1-3 months.

Risk Level

Risk: Low. Basis must converge at expiry, returns are predictable. Main risks are exchange risk (fund safety) and basis widening if forced to close early.

Common Pitfalls

  • Basis widening: in panic, futures may trade below spot (backwardation), strategy breaks
  • Long lock-up: 1-3 month capital lock, poor flexibility
  • Exchange risk: funds inaccessible during exchange issues

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Cash & Carry | CodyQuant