🤔 $BTC futures cash-and-carry trade is very likely reaching the end of the juice left to squeeze.

A few weeks ago, traders could lock in an almost risk-free 10% annualised premium by being long spot, short futures. Technically this is ~5% as you need capital on both sides.

That is now down to 6% (3% technically), which is below the risk-free rate of cash equivalents.