BitMEX, the cryptocurrency and bitcoin derivatives exchange announced today that it has launched an Ether (ETH) – US dollar perpetual swap. BitMEX was the originator of the Bitcoin XBT – USD perpetual contract, turning it into one of the most liquid markets for BTC trade.
ETHUSD on BitMEX is a ETH/USD perpetual contract priced on the .BETH Index (Bitstamp, GDAX, and Kraken equally weighted). Each contract is worth 0.001 mXBT per $1 price, currently 0.00041178 XBT.
Funding is paid and received every 8 hours. ETHUSD uses a Premium Index to calculate funding rates. The underlying interest rates are quoted in the .ETHBON8H Index and .USDBON8H Index and the premium rate is quoted in the .ETHUSDPI8H Index. These are used to calculate the final funding rate.
For example, today, longs will pay 0.0440%, and shorts will receive 0.0440% at 4:00 PM EDT. BitMEX does not charge fees for funding payments.
Risk Limit – 50 XBT
Risk Step – 50 XBT
Open Interest – 631,446
24H Turnover – 747.8473 XBT
Total Volume – 1,804,379
Type Settled in XBT, quoted in USD
Contract Size 0.001 mXBT per 1 USD (Currently 0.00041165 XBT per contract)
Settlement – This contract is perpetual and does not settle.
Minimum Price Increment – 0.05 USD
Max Price – 1,000,000
Max Order Quantity – 10,000,000