CB Spot v BN Futs Premium by Chop324

Coinbase Spot vs Binance Futures Premium Tracker

What This Indicator Does:
This indicator automatically tracks the price premium or discount between Coinbase spot prices and Binance perpetual futures for any cryptocurrency you're viewing. It works dynamically with whatever ticker you load it on - no manual configuration needed.

How It Works:
The script extracts the base currency from your current chart (BTC, ETH, SOL, etc.) and automatically constructs the corresponding tickers:

• Coinbase Spot: COINBASE:[SYMBOL]USD
  
• Binance Perpetual Futures: BINANCE:[SYMBOL]USDT.P

It then calculates the simple price difference: Coinbase Spot - Binance Futures

Visual Display:
The premium/discount is plotted as a histogram:

• Green columns: Coinbase trading at a premium (higher than Binance)
  
• Red columns: Coinbase trading at a discount (lower than Binance)
  
• Baseline at 0: Represents price parity between exchanges

Why This Matters:
Coinbase premium is a useful market sentiment indicator, particularly for institutional/US retail activity:

• Positive premium: Often indicates strong US-based buying pressure
  
• Negative premium: May suggest selling pressure or capital flowing to offshore exchanges
  
• Extreme deviations: Can signal localized supply/demand imbalances or arbitrage opportunities

Usage:
Simply load the indicator on any crypto chart (BTCUSDT, ETHUSDT, SOLUSDT, etc.) and it will automatically display the premium/discount for that asset.

Note: Requires both Coinbase spot and Binance perpetual futures data to be available for the symbol you're viewing.