This indicator is similar to the standard premium index we made for bitcoin, but this one is for alts.
Just like with the bitcoin premium index, you can compare the spot price of a certain altcoin with the price on a futures exchange. The indicator can be used to spot potential strength or weakness in the market.
You can fill in 1 spot exchange pair and compare it with 2 futures exchange pairs.
For example fill in ETHUSD on coinbase and compare it with the future prices on bitmex and bybit.
We can clearly see that on that dump in the blue area, the premium index showed that spot prices were consistently higher than future prices which told us spot was buying the dip.
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Use the link below to obtain access to this indicator.