Trading term

What is CME gap (bitcoin)?

A CME gap is the empty space on the chart of CME's bitcoin futures between the Friday close and the Sunday reopen. CME used to close for the weekend while bitcoin kept trading, so the futures often reopened at a different price.

Until 29 May 2026, CME's bitcoin futures stopped at 4pm Chicago time on Friday and restarted at 5pm on Sunday. Whatever bitcoin did in between showed up as a jump on the CME chart. Traders drew a box around that space and said price would come back to fill it. From December 2017 to May 2026, 80% of weekend gaps filled within a week. Since the switch to 24/7 trading, new weekend gaps no longer form.

For example

On Friday 28 February 2025 bitcoin was at $84,258 when CME closed. It reopened on Sunday at $94,247, a gap of 11.9%. Bitcoin traded back to $84,258 about a day later.

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Why it matters to you

"CME gaps always fill" was one of crypto's most repeated rules. Gaps did usually fill, but so did a made-up level the same distance the other way: 83% within a week, against 80% for the gap. Across 427 weekends, the made-up level was reached first 231 times and the gap level 161.

⚠ Trading an old open gap as a target

Nearly all the gaps still open are far below today's price, down to $3,198 from December 2018. They were left behind by a market that rose a long way. They're a record of the past, not a forecast.

Frequently asked questions

Do CME gaps always fill?

Usually, not always. From 2017 to 2026, 80% filled within a week and 97% have filled since. But levels with no gap behind them, the same distance from the reopen, were reached about as often. Filling is what a nearby price does in a volatile market.

Does CME still have weekend gaps?

No. CME moved its crypto futures and options to 24/7 trading on 29 May 2026. There's a short maintenance pause early on Saturday, and bitcoin barely moves across it.

Read the full guide

DerivativesHow to Read the CME Gap"CME gaps always fill" was one of crypto's most repeated chart rules. Across 427 weekends, 80% of bitcoin's CME gaps filled within a week. But a made-up level the same distance the other way was reached 83% of the time, and it usually got there first. Since May 2026, CME trades 24/7 and the gap no longer forms.8 min read

Related terms

BackwardationBackwardation is when futures prices are lower for later delivery dates — the futures curve slopes downward. It often signals tight near-term supply or strong demand for immediate delivery. For futures holders it creates a positive 'roll yield,' as they sell pricier near-term contracts and buy cheaper later ones.BasisBasis is the difference between an asset's futures price and its current spot (cash) price. It reflects carrying costs, supply and demand, and time to expiry — and it converges to zero as the contract nears expiration, since a future about to settle must match the spot price. Traders watch basis to gauge conditions and to hedge.Borrow feeThe borrow fee is what a short seller pays to rent the shares they've borrowed, quoted as an annual rate on the value of the position and charged for every day the short is held. An easy-to-borrow stock might cost a fraction of a percent a year; a hard-to-borrow one can cost many times that.Cash-and-carryA cash-and-carry is a trade that buys an asset and sells a dated futures contract on it at the same time, then holds both to expiry. The two legs close at the same price on settlement day, so the trader keeps the gap between the futures price and the spot price — the basis — as a return that is known on the day the trade is put on.
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