# Basis Trade

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**Publisher:** Decentralized Finance Publication

## Definition

A delta-neutral trading strategy that profits from the difference (basis) between the spot price and futures price of an asset. In DeFi, the Ethena USDe stablecoin implements a basis trade: holding staked ETH (earning staking yield) while shorting ETH perpetual futures (capturing positive funding rates when the market is bullish). The combined yield funds USDe's interest payments.

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Canonical: https://decentralized-finance.io/glossary/basis-trade/