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BOBUSD: Contract Specification
BOBUSD
BOBUSD is in the BOB series.
The quote currency is USD (US Dollar).

Description

BOBUSD is a BOB/USD perpetual contract priced on the .BBOB Index. Each contract is worth 0.1000 XBT per $1 price, currently 0.00000221 XBT.

Funding is paid and received every 8 hours. The next payout event is at 4:00 AM UTC.

BOBUSD uses a Premium Index to calculate funding rates. The underlying interest rates are quoted in the .BOBBON8H Index and .USDBON8H Index, and the premium rate is quoted in the .BOBUSDPI8H Index. These are used to calculate the final funding rate.

Today, longs will pay 0.0100%, and shorts will receive 0.0100% at 4:00 AM UTC. BitMEX does not charge fees on funding payments.

Expiry: Perpetual, subject to Early Settlement.Maximum Initial Leverage: 50x
Maximum Maintenance Leverage: 100x

View the BitMEX Perpetual Contracts Guide

Funding Calculation

More information about the funding rate is available in the Perpetuals Guide.

Interest BaseInterest QuotePremium
Symbols.BOBBON8H.USDBON8H.BOBUSDPI8H
Rates0.03%0.06%0.0119%

I = Interest Rate, B = Interest Base, Q = Interest Quote, T = Funding Times Per Day
P = Premium Rate, F = Funding Rate
The Funding Rate is the rate exchanged between users.
The Premium Rate is used to calculate it, adjusted by the Interest Rate by up to 0.05%.

Formula

I = (Q - B) / T
F = P + Clamp(I - P, -0.05%, 0.05%)

Result

I = 0.0100%
I = (0.06% - 0.03%) / 3
F = 0.0100%
F = 0.0119% + Clamp(0.0100% - 0.0119%, -0.05%, 0.05%)

Full Contract Details

Ticker RootBOBUSD
Expiry DatePerpetual, subject to Early Settlement
Initial Margin2.00% + Entry Taker Fee + Exit Taker Fee
Maint. Margin1.00% + Exit Taker Fee + Funding Rate
Interest Base Symbol.BOBBON8H
Interest Quote Symbol.USDBON8H
Funding Premium Symbol.BOBUSDPI8H
Funding Rate0.0100%
Funding Intervalevery 8 hours
Next FundingJun 1, 2023, 4:00:00 AM
Predicted Rate0.0100%
Mark Price0.0000221
Auto-Deleveraging EnabledYes: This contract is highly speculative and manages loss through auto-deleveraging.
Mark MethodFairPrice
Fair Basis0
Fair Basis Rate10%
Fair Basis CalculationThe fair basis on this instrument is determined by an annualized calculation of the funding rate.
Risk Limit50 XBT
Risk Step50 XBT
Open Interest58,542
24H Turnover0.1469 XBT
Total Volume8,607,912
TypeSettled in XBT, quoted in USD
Contract Size0.1000 XBT per 1 USD (Currently 0.00000221 XBT per contract)
SettlementThis contract is perpetual and does not settle. Subject to Early Settlement.
CommissionSee the Fees Reference for more details.
Minimum Price Increment1e-7 USD
Minimum Trade Amount1 Cont
Max Price10
Max Order Quantity5,000,000
Lot Size1