Why Are Bitcoin Futures Trading for Higher Prices than Bitcoin Itself?

In an efficient market, prices in the futures and spot markets tend to converge. Bitcoin futures, however, are trading at a more than 10% premium compared to prices in the spot market.

Arbitrage opportunities

In an efficient market, arbitrageurs spot price differences and make contra-trades in both markets, netting a profit without taking any risk. In this case, arbitrage traders can sell Bitcoin futures and buy Bitcoins in the spot market, locking in a profit irrespective of the way Bitcoin's price moves.