Price divergence
- Price divergence is the difference between two prices, measured against a named basis.
- The number has no meaning until you know what it is compared with.
- StockTicker24 uses three different bases on screen: the oracle price, the close basis and the recorded high.
Price divergence: definition, StockTicker24 display rules and dated production-data examples.
Definition
In futures markets, the difference between the spot price and the futures price is called the basis. Japan Exchange Group defines it this way in its glossary. Trades that use this difference to seek a profit are called arbitrage.
For a dated future, the theoretical price is built from the spot price. Osaka Exchange's 1996 guide adds interest to expiry and subtracts dividends to expiry. A price above the theory is a premium; below it is a discount.
A perpetual-futures contract has no expiry, so that build does not apply directly. The contract issuer, trade[XYZ], says the funding rate does the work of pulling the price toward the reference.
StockTicker24 uses "price divergence" for any such difference, and always names the basis.
A divergence states a size, not a direction of future movement.
read the basis before reading the number.
How it appears on StockTicker24
| Place on the board | Basis |
|---|---|
| Lab is hidden during review. | Oracle price |
| Movers tab, "Vs. close" face; Market cap tab, vs. close column | The site first uses the oracle value at the cash-market close. If unavailable, it uses the 15-minute perpetual-futures candle ending at the close, or a candle ending up to one hour earlier if the close-time candle is missing. |
| Highs and lows tab: "Gap from recorded-period high" | Highest value in the recorded period |
The highs and lows tab prints its formula: Gap = (current price ÷ recorded-period high − 1) × 100. The card header has no "divergence" badge.
The site retrieved its production board snapshot (/api/board-snapshot) at Oct 10, 2026, 05:01:18 UTC (capturedAt 05:01:10.627 UTC). The table compares the mid price with the oracle price.
| Card | Mid price | Oracle price | Mid − oracle | Premium field (×100) |
|---|---|---|---|---|
| Nikkei 225 | 68,900.0 | 68,867.0 | +33.0 | +0.0311% |
| S&P 500 | 7,820.35 | 7,818.5 | +1.85 | +0.0238% |
| BTC/USD | 82,650.5 | 82,676.0 | −25.5 | −0.0302% |
The last column is the provider's premium field. Lab is hidden during review. It is computed by the provider and does not equal mid ÷ oracle − 1 exactly.
the same word covers three different comparisons on screen.
Examples from the current board
Saved observation:
Tables scroll horizontally. Values use each contract’s quoted unit; no currency conversion.
| Symbol / contract | Unit | Price (mid; mark if missing) | prevDayPx | Difference vs. prevDayPx | Change vs. 24h earlier | Oracle price | (price ÷ oracle − 1) × 100 |
|---|---|---|---|---|---|---|---|
| iShares MSCI Taiwan ETFxyz:EWT | USDC | 103.975 | 106.28 | −2.305 | −2.168799% | 105.18 | −1.145655% |
| GigaDevicexyz:GIGADEV | USDC | 39.4965 | 40.702 | −1.2055 | −2.961771% | 39.93 | −1.08565% |
| Broadcompara:AVGO | USDC | 326.455 | 328.88 | −2.425 | −0.737351% | 329.95 | −1.059251% |
| Applied Optoelectronicspara:AAOI | USDC | 72.827 | 75.0 | −2.173 | −2.897333% | 73.6013 | −1.052019% |
| Direxion Daily MSCI South Korea Bull 3X ETFxyz:KORU | USDC | 10.106 | 10.399 | −0.293 | −2.817579% | 10.203 | −0.950701% |
Price = mid price, or mark price when mid is unavailable. Difference = price − prevDayPx; change vs. 24h earlier = (price ÷ prevDayPx − 1) × 100. Funding rate (%) = hourly decimal × 100. Calculated values are rounded to six decimal places.
Data: our board (perpetual-futures reference values), observed
No matching numeric example is available in this snapshot; the related board card is shown below.
Price: mid price (mark if missing) · perpetual futures / vs. 24h earlier / / Saved / stale
Data: our board (perpetual-futures reference values), observed
Questions
Is "divergence" on StockTicker24 always a gap from the cash price?
No. Lab is hidden during review. The screen shows gaps from the close basis and from the recorded-period high.
Does a large divergence signal that something will happen?
No. The size of a gap does not state a direction. It states how far apart two named prices are at one moment.
Is the "Premium (vs. oracle)" figure calculated by StockTicker24?
No. It is a field supplied by the data provider. The site displays it as supplied.
Related
Sources
The production API examples are a fixed historical snapshot. Building this page does not fetch new prices.
External source titles and URLs were checked on Oct 11, 2026. The historical content retrieval dates are listed below.
- Japan Exchange Group, 用語集「ベーシス取引」 (content retrieved Aug 23, 2026, as cited on the Japanese page).
- Osaka Exchange, 一般投資家のための株価指数先物・オプション講座 (14) 第六章 株価指数先物・オプションを用いた裁定取引・・・その2 裁定取引の実際 (content retrieved Aug 23, 2026, as cited on the Japanese page).
- trade[XYZ] (contract issuer), Perpetuals — https://docs.trade.xyz/perpetuals.md (content retrieved Aug 23, 2026, as cited on the Japanese page).
- StockTicker24 production API
/api/board-snapshot, retrieved Oct 10, 2026, 05:01:18 UTC.