A Futures Contract is a derivative product and is an agreement to buy or sell a commodity, currency or other instrument at a predetermined price at a specified time in the future. They are either physically settled or cash settled. BitMEX offers several of its trading products in the form of a Futures Contract with cash settlement.
Futures contracts do not require traders to post 100% of collateral as margin, because of this you can trade with leverage of up to 100x on some of BitMEX contracts. All margin on BitMEX is denominated in Bitcoin, allowing traders to speculate on the future value of its products only using Bitcoin.
The other derivative product BitMEX offers is the Swap Product. To see futures contract information specific to each instrument, click on the Contracts tab at the top.
When trading futures contracts, a trader needs to be aware of several mechanics of the futures market. The key components a trader needs to be aware of are: