MONEY GLOBE XFutures Pro · Lesson 2
Funding and cash-and-carry
Collecting the basis - and its real risks
Professional - Gold & Platinum
In this lesson
Understand the cash-and-carry trade and funding capture, how much they earn, and the risks that make them not risk-free.
Key takeaways
- Cash-and-carry: buy spot, sell a dated future, earn the basis at convergence.
- Funding capture: long spot + short perpetual collects positive funding (0.01% × 3 × 365 ≈ 11% a year).
- Risks: negative funding, liquidation of the short leg in spikes, exchange/custody risk, fees.
- Keep extra margin on the short leg and size conservatively.
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Next lesson: Open interest and liquidation maps
Educational information only - not financial advice.
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