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USDTMXN: Contract Specification
USDTMXN
USDTMXN is in the USDT (Tether) series.
The quote currency is MXN (Mexican Peso).

Description

USDTMXN is a USDT/MXN perpetual contract priced on the .BUSDTMXN Index. Each contract is worth 1 MXN of Tether.

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

USDTMXN uses a Premium Index to calculate funding rates. The underlying interest rates are quoted in the .USDTBON8H Index and .MXNBON8H Index, and the premium rate is quoted in the .USDTMXNPI8H Index. These are used to calculate the final funding rate.

Today, longs will receive 0.0000%, and shorts will pay 0.0000% at 8:00 PM 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.USDTBON8H.MXNBON8H.USDTMXNPI8H
Rates0.06%0.06%0%

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 = 0.0000%
I = (0.06% - 0.06%) / 3
F = 0.0000%
F = 0.0000% + Clamp(0.0000% - 0.0000%, -0.05%, 0.05%)

Full Contract Details

Ticker RootUSDTMXN
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.USDTBON8H
Interest Quote Symbol.MXNBON8H
Funding Premium Symbol.USDTMXNPI8H
Funding Rate0.0000%
Funding Intervalevery 8 hours
Next FundingDec 1, 2022, 8:00:00 PM
Predicted Rate0.0000%
Mark Price19.1630
Auto-Deleveraging EnabledYes: This contract is highly speculative and manages loss through auto-deleveraging.
Mark MethodFairPrice
Fair Basis0
Fair Basis Rate0%
Fair Basis CalculationThe fair basis on this instrument is determined by an annualized calculation of the funding rate.
Risk Limit1,000,000 USDT
Risk Step1,000,000 USDT
Open Interest220
24H Turnover0.00 USDT
Total Volume21,790,280
TypeSettled in USDT, quoted in MXN
Contract Size1 MXN (Currently 0.052184 USDT per contract)
SettlementThis contract is perpetual and does not settle. Subject to Early Settlement.
CommissionSee the Fees Reference for more details.
Minimum Price Increment0.001 MXN
Minimum Trade Amount10 MXN
Max Price100,000
Max Order Quantity50,000,000
Lot Size10