A few days ago PlanB made the following statement.
Hello
How can we apply your strategy to futures on Bitmex? Because I can't trade on Bakkt.
Why futures of March are above spot price and other futures?
I dont know the term structure on Bitmex, but the strategy is viable when there is a contango in future prices (the other way round when there is a backwardstion).
So, yes, as long as your cost of carry doesnt erase the positive price differential, yes you can trade that.
Why are the prices so steep?
I still have no clue. Investigating this.