BitMex Announces Plans to Launch Ether Quanto Futures Contract

Next-generation cryptocurrency trading platform BitMEX announced on Friday it is planning to launch an Ether (ETHUSD) quanta futures contract with up to 50x leverage May 5th. According to BitMEX, the first contract, ETHUSDM20, will expire in June. BitMEX claims that the contract will be the “only one” of its kind available in the market and represents “significant new trading opportunities” on the BitMEX platform.

ETHUSD quanto futures have a fixed Bitcoin multiplier regardless of the USD Ethereum price. This allows traders to long or short the ETH/USD exchange rate without ever touching either ETH or USD! Traders post margin in XBT, and earn or lose Bitcoin as the ETH/USD rate changes.”

BitMEX further reported that the contract “combines” the quanto feature of its ETHUSD perpetual swap with the expiry and settlement found in traditional futures. ETHUSDM20 is now available on Testnet. Key contract details are listed below:

  • Symbol: ETHUSDM20
  • Expiry Date: 26 June 2020, 1200 UTC
  • Bitcoin Multiplier: 0.000001 XBT (100 Satoshis)
  • XBT Contract Value: ETHUSD Price * Bitcoin Multiplier (100 Sat/$1)
  • Underlying: .BETH 
  • Max Leverage: 50x
  • Maker Fee: -0.025%
  • Taker Fee: 0.075%
  • Base Initial Margin: 2.00% 
  • Base Maintenance Margin: 0.90% 

Founded in 2014, BitMEX is a next-generation cryptocurrency trading platform that supports leveraged trading through Perpetual and Futures Contracts. The exchange offers a fast, safe, and liquid way to trade and hedge cryptocurrency risk.

Sponsored Links by DQ Promote


Send this to a friend