> ## Documentation Index
> Fetch the complete documentation index at: https://docs.fincept.in/llms.txt
> Use this file to discover all available pages before exploring further.

# Calculate Basis

> Calculate the basis - the difference between the spot price and the futures price (Basis = Spot - Futures). Basis represents the net cost of carry and can be positive (contango) or negative (backwardation). Understanding basis is crucial for hedging strategies, arbitrage opportunities, and futures contract pricing. Basis typically converges to zero as the futures contract approaches expiry. Used extensively in commodity trading, equity index arbitrage, and bond futures hedging. [Tier: STANDARD, Credits: 2]



## OpenAPI

````yaml api-specs/solver.json post /quantlib/solver/finance/basis
openapi: 3.1.0
info:
  title: FinceptQuantLib API - Solver
  description: >-
    Solver module endpoints for FinceptQuantLib API. The Solver module (Basic
    Tier, 1 credit per request) provides advanced financial solvers including
    bond analytics (yield, duration, convexity), implied volatility
    calculations, spread computations (Z-spread, ASW, OAS), curve bootstrapping,
    interest rate conversions, and model calibration (Vasicek, CIR). Essential
    for fixed income analysis, derivatives pricing, and risk management.
  version: 3.0.0
  contact:
    name: Fincept API Support
    url: https://fincept.in
servers:
  - url: https://api.fincept.in
    description: Fincept API Production Server
security:
  - APIKeyHeader: []
tags:
  - name: quantlib-solver
    description: >-
      Advanced financial solvers for bond analytics, implied volatility, spread
      calculations, and model calibration
    x-displayName: Solver
paths:
  /quantlib/solver/finance/basis:
    post:
      tags:
        - quantlib-solver
      summary: Calculate Basis
      description: >-
        Calculate the basis - the difference between the spot price and the
        futures price (Basis = Spot - Futures). Basis represents the net cost of
        carry and can be positive (contango) or negative (backwardation).
        Understanding basis is crucial for hedging strategies, arbitrage
        opportunities, and futures contract pricing. Basis typically converges
        to zero as the futures contract approaches expiry. Used extensively in
        commodity trading, equity index arbitrage, and bond futures hedging.
        [Tier: STANDARD, Credits: 2]
      operationId: basis
      requestBody:
        required: true
        content:
          application/json:
            schema:
              type: object
              required:
                - spot
                - futures
              properties:
                spot:
                  type: number
                  description: Current spot price of the underlying asset
                  example: 100
                futures:
                  type: number
                  description: Futures price
                  example: 102
            example:
              spot: 100
              futures: 102
      responses:
        '200':
          description: Successful Response
          content:
            application/json:
              schema:
                type: object
                properties:
                  success:
                    type: boolean
                    example: true
                  data:
                    type: object
                    properties:
                      basis:
                        type: number
                        description: The basis (spot - futures)
                        example: -2
              example:
                success: true
                data:
                  basis: -2
        '401':
          $ref: '#/components/responses/UnauthorizedError'
        '402':
          $ref: '#/components/responses/InsufficientTierError'
        '422':
          description: Validation Error
          content:
            application/json:
              schema:
                type: object
                properties:
                  detail:
                    type: array
                    items:
                      type: object
      security:
        - APIKeyHeader: []
components:
  responses:
    UnauthorizedError:
      description: Authentication information is missing or invalid
      content:
        application/json:
          schema:
            type: object
            properties:
              detail:
                type: string
                example: Invalid API key
    InsufficientTierError:
      description: API tier insufficient for this endpoint
      content:
        application/json:
          schema:
            type: object
            properties:
              detail:
                type: string
                example: Endpoint requires Basic tier or higher
  securitySchemes:
    APIKeyHeader:
      type: apiKey
      in: header
      name: X-API-Key
      description: >-
        API key for authentication. Get your key at
        https://api.fincept.in/auth/register

````