Carry and basis trading

A cluster on carry and basis trading for readers trying to understand carry, basis, funding, and term structure in crypto.

Reviewed by Alphora Research

Updated June 30, 2026

This cluster sits close to funding basis carry and can absorb a large family of durable search-style questions. This series is written for readers trying to understand carry, basis, funding, and term structure in crypto.

Use the draft pages to widen coverage quickly, then promote the strongest answers once they have concrete product links, cleaner cross-links, and enough specificity to stand on their own.

Questions in this cluster

Each page answers a narrower search-shaped question while staying linked to the broader research theme.

Strategy intuition

definition

What is term structure?

Learn what is term structure, why it matters in carry and basis trading, and how it connects to a practical systematic trading workflow.

Strategy intuition

definition

Why does term structure matter in systematic trading?

Learn why does term structure matter in systematic trading, why it matters in carry and basis trading, and how it connects to a practical systematic trading workflow.

Strategy intuition

definition

What is basis convergence?

Learn what is basis convergence, why it matters in carry and basis trading, and how it connects to a practical systematic trading workflow.

Strategy intuition

definition

Why does basis convergence matter in systematic trading?

Learn why does basis convergence matter in systematic trading, why it matters in carry and basis trading, and how it connects to a practical systematic trading workflow.

Research process

implementation

How do you evaluate a carry trade before calling it market neutral?

Learn how do you evaluate a carry trade before calling it market neutral, why it matters in carry and basis trading, and what to validate before trusting the workflow in live research.

Strategy intuition

definition

What is basis risk in a carry trade?

Learn what is basis risk in a carry trade, why it matters in carry and basis trading, and how it connects to a practical systematic trading workflow.

Strategy intuition

definition

When is funding rich enough to matter?

Learn when is funding rich enough to matter, why it matters in carry and basis trading, and how it connects to a practical systematic trading workflow.

Strategy intuition

definition

How do carry and mean reversion interact?

Learn how do carry and mean reversion interact, why it matters in carry and basis trading, and how it connects to a practical systematic trading workflow.

Strategy intuition

definition

What is basis risk?

Learn what is basis risk, why it matters in carry and basis trading, and how it connects to a practical systematic trading workflow.

Strategy intuition

definition

Why does basis risk matter in systematic trading?

Learn why does basis risk matter in systematic trading, why it matters in carry and basis trading, and how it connects to a practical systematic trading workflow.

Strategy intuition

definition

What is funding carry?

Learn what is funding carry, why it matters in carry and basis trading, and how it connects to a practical systematic trading workflow.

Strategy intuition

definition

Why does funding carry matter in systematic trading?

Learn why does funding carry matter in systematic trading, why it matters in carry and basis trading, and how it connects to a practical systematic trading workflow.