uHello thank you for your reply but I don't want to just trade futures, I already Mex. I want to apply his strategy, he says we can profit from the situation, but I would know how to do it while I can't trade on Bakkt and nobody here. So I was asking him where I can apply his strategy. Thank you.
This is not MY strategy. This strategy has been used since future has been traded on the markets.
DYOR before using real money on this if you are not sure on how these instruments work.
Yes I want to DYOR but could you give me some links for that?
Which platform do you recommend? On which platform are you trading? Do you know some platforms where I can apply this strategy?
Is there a way to apply the strategy on bitmex futures?
Thank you
No AFAIK you won't be able to do that on Bitmex neither on any futures exchange I know. BTC futures on bitmex aren't "vanilla", they are inverse futures like most of the BTC futures of the cryptoverse. That is to say you don't buy and sell btc futures contracts but USD futures contracts instead, and the calculations of your profits(PnL) are done on the inverse of the price.
It's not really easy to explain in layman terms but it's the same as betting on the USD price against BTC with satoshis, but the inversion is done for you.
The altcoin futures are generally vanilla but they are against btc, and they are not asset-settled like on Bakkt but cash-settled in btc. So you can't apply this method on them because you won't receive or send the assets at the expiry date but the value of those cryptos in btc at the spot market price of the day, instead. So for example, if the price of EOS is higher than your sale price(ie the entry price of your short position) you will lose money because you will virtually give the value of one EOS at the spot market price of the day and only receive the price of your sale.