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- Contracts
- XBT (Bitcoin)
- ADA (Cardano)
- APE (APE)
- AVAX (Avalanche)
- AXS (Axie Infinity)
- BASKET (BitMEX Basket)
- BCH (Bitcoin Cash)
- BNB (Binance Coin)
- DOGE (Dogecoin)
- DOT (Polkadot)
- EOS (EOS Token)
- ETH (Ethereum)
- FTM (Fantom)
- GAL (GAL)
- GMT (GMT)
- LINK (Chainlink)
- LTC (Litecoin)
- LUNA (Luna)
- MANA (Decentraland)
- MATIC (Matic Network)
- NEAR (Near)
- SAND (SAND)
- SOL (Solana)
- SHIB (Shiba Inu)
- TRX (Tron)
- XRP (Ripple)
- Indices
- XBT (Bitcoin)
- .BXBT (Bitcoin Spot)
- .BXBT30M (30-Minute Bitcoin Spot)
- .BXBTEUR (XBT/EUR BitMEX Index)
- .BXBTEUR30M (30-minutes XBT/EUR BitMEX Index TWAP)
- .BXBTEUR_NEXT (XBT/EUR BitMEX Index)
- .BXBTT (XBT/USDT BitMEX Index)
- .BXBTT30M (30-minutes XBT/USDT BitMEX Index TWAP)
- .BXBTT_NEXT (XBT/USDT BitMEX Index)
- .BXBT_NEXT (XBT/USD BitMEX Index)
- .XBTBON (XBT Lending Rate)
- .XBTBON8H (8-hours XBT Lending Rate TWAP)
- .XBTEURPI (XBT Premium)
- .XBTEURPI8H (8-hours XBT Premium TWAP)
- .XBTUSDPI (XBT Premium)
- .XBTUSDPI8H (8-hours XBT Premium TWAP)
- .XBTUSDTPI (XBT Premium)
- .XBTUSDTPI8H (8-hours XBT Premium TWAP)
- ADA (Cardano)
- .ADABON (ADA Lending Rate)
- .ADABON8H (8-hours ADA Lending Rate TWAP)
- .ADAUSDPI (ADA Premium)
- .ADAUSDPI8H (8-hours ADA Premium TWAP)
- .ADAUSDTPI (ADA Premium)
- .ADAUSDTPI8H (8-hours ADA Premium TWAP)
- .BADA (ADA/USD BitMEX Index)
- .BADAT (ADA/USDT BitMEX Index)
- .BADAT30M (30-minutes ADA/USDT BitMEX Index TWAP)
- .BADAT_NEXT (ADA/USDT BitMEX Index)
- .BADAXBT (ADA/XBT BitMEX Index)
- .BADAXBT30M (30-minutes ADA/XBT BitMEX Index TWAP)
- .BADAXBT_NEXT (ADA/XBT BitMEX Index)
- .BADA_NEXT (ADA/USD BitMEX Index)
- APE (APE)
- .APEBON (APE Lending Rate)
- .APEBON8H (8-hours APE Lending Rate TWAP)
- .APEUSDPI (APE Premium)
- .APEUSDPI8H (8-hours APE Premium TWAP)
- .APEUSDTPI (APE Premium)
- .APEUSDTPI8H (8-hours APE Premium TWAP)
- .BAPE (APE/USD BitMEX Index)
- .BAPET (APE/USDT BitMEX Index)
- .BAPET_NEXT (APE/USDT BitMEX Index)
- .BAPE_NEXT (APE/USD BitMEX Index)
- AVAX (Avalanche)
- .AVAXBON (AVAX Lending Rate)
- .AVAXBON8H (8-hours AVAX Lending Rate TWAP)
- .AVAXUSDPI (AVAX Premium)
- .AVAXUSDPI8H (8-hours AVAX Premium TWAP)
- .AVAXUSDTPI (AVAX Premium)
- .AVAXUSDTPI8H (8-hours AVAX Premium TWAP)
- .BAVAX (AVAX/USD BitMEX Index)
- .BAVAXT (AVAX/USDT BitMEX Index)
- .BAVAXT_NEXT (AVAX/USDT BitMEX Index)
- .BAVAX_NEXT (AVAX/USD BitMEX Index)
- AXS (Axie Infinity)
- .AXSBON (AXS Lending Rate)
- .AXSBON8H (8-hours AXS Lending Rate TWAP)
- .AXSUSDPI (AXS Premium)
- .AXSUSDPI8H (8-hours AXS Premium TWAP)
- .AXSUSDTPI (AXS Premium)
- .AXSUSDTPI8H (8-hours AXS Premium TWAP)
- .BAXS (AXS/USD BitMEX Index)
- .BAXST (AXS/USDT BitMEX Index)
- .BAXST30M (30-minutes AXS/USDT BitMEX Index TWAP)
- .BAXST_NEXT (AXS/USDT BitMEX Index)
- .BAXS_NEXT (AXS/USD BitMEX Index)
- BASKET (BitMEX Basket)
- .ALTMEXBON (ALTMEX Lending Rate)
- .ALTMEXBON8H (8-hours ALTMEX Lending Rate TWAP)
- .ALTMEXTBON (ALTMEXT Lending Rate)
- .ALTMEXTBON8H (8-hours ALTMEXT Lending Rate TWAP)
- .ALTMEXTUSDTPI (ALTMEXT Premium)
- .ALTMEXTUSDTPI8H (8-hours ALTMEXT Premium TWAP)
- .ALTMEXUSDPI (ALTMEX Premium)
- .ALTMEXUSDPI8H (8-hours ALTMEX Premium TWAP)
- .BALTMEX (BitMEX ALTMEX Basket)
- .BALTMEX30M (30-minutes BitMEX ALTMEX Basket TWAP)
- .BALTMEXT (BitMEX ALTMEXT Basket)
- .BDEFIMEX (BitMEX DEFIMEX Basket)
- .BDEFIMEX30M (30-minutes BitMEX DEFIMEX Basket TWAP)
- .BDEFIMEXT (BitMEX DEFIMEXT Basket)
- .BMETAMEXT (BitMEX METAMEXT Basket)
- .DEFIMEXBON (DEFIMEX Lending Rate)
- .DEFIMEXBON8H (8-hours DEFIMEX Lending Rate TWAP)
- .DEFIMEXTBON (DEFIMEXT Lending Rate)
- .DEFIMEXTBON8H (8-hours DEFIMEXT Lending Rate TWAP)
- .DEFIMEXTUSDTPI (DEFIMEXT Premium)
- .DEFIMEXTUSDTPI8H (8-hours DEFIMEXT Premium TWAP)
- .DEFIMEXUSDPI (DEFIMEX Premium)
- .DEFIMEXUSDPI8H (8-hours DEFIMEX Premium TWAP)
- .METAMEXTBON (METAMEXT Lending Rate)
- .METAMEXTBON8H (8-hours METAMEXT Lending Rate TWAP)
- .METAMEXTUSDTPI (METAMEXT Premium)
- .METAMEXTUSDTPI8H (8-hours METAMEXT Premium TWAP)
- BCH (Bitcoin Cash)
- .BBCH (BCH/USD BitMEX Index)
- .BBCHT (BCH/USDT BitMEX Index)
- .BBCHT_NEXT (BCH/USDT BitMEX Index)
- .BBCHXBT (BCH/XBT BitMEX Index)
- .BBCHXBT30M (30-minutes BCH/XBT BitMEX Index TWAP)
- .BBCHXBT_NEXT (BCH/XBT BitMEX Index)
- .BBCH_NEXT (BCH/USD BitMEX Index)
- .BCHBON (BCH Lending Rate)
- .BCHBON8H (8-hours BCH Lending Rate TWAP)
- .BCHUSDPI (BCH Premium)
- .BCHUSDPI8H (8-hours BCH Premium TWAP)
- .BCHUSDTPI (BCH Premium)
- .BCHUSDTPI8H (8-hours BCH Premium TWAP)
- BNB (Binance Coin)
- .BBNB (BNB/USD BitMEX Index)
- .BBNBT (BNB/USDT BitMEX Index)
- .BBNBT30M (30-minutes BNB/USDT BitMEX Index TWAP)
- .BBNBT_NEXT (BNB/USDT BitMEX Index)
- .BBNB_NEXT (BNB/USD BitMEX Index)
- .BNBBON (BNB Lending Rate)
- .BNBBON8H (8-hours BNB Lending Rate TWAP)
- .BNBUSDPI (BNB Premium)
- .BNBUSDPI8H (8-hours BNB Premium TWAP)
- .BNBUSDTPI (BNB Premium)
- .BNBUSDTPI8H (8-hours BNB Premium TWAP)
- BVOL (Bitcoin Volatility)
- DOGE (Dogecoin)
- .BDOGE (DOGE/USD BitMEX Index)
- .BDOGET (DOGE/USDT BitMEX Index)
- .BDOGET30M (30-minutes DOGE/USDT BitMEX Index TWAP)
- .BDOGET_NEXT (DOGE/USDT BitMEX Index)
- .BDOGE_NEXT (DOGE/USD BitMEX Index)
- .DOGEBON (DOGE Lending Rate)
- .DOGEBON8H (8-hours DOGE Lending Rate TWAP)
- .DOGEUSDPI (DOGE Premium)
- .DOGEUSDPI8H (8-hours DOGE Premium TWAP)
- .DOGEUSDTPI (DOGE Premium)
- .DOGEUSDTPI8H (8-hours DOGE Premium TWAP)
- DOT (Polkadot)
- .BDOT (DOT/USD BitMEX Index)
- .BDOTT (DOT/USDT BitMEX Index)
- .BDOTT30M (30-minutes DOT/USDT BitMEX Index TWAP)
- .BDOTT_NEXT (DOT/USDT BitMEX Index)
- .BDOT_NEXT (DOT/USD BitMEX Index)
- .DOTBON (DOT Lending Rate)
- .DOTBON8H (8-hours DOT Lending Rate TWAP)
- .DOTUSDPI (DOT Premium)
- .DOTUSDPI8H (8-hours DOT Premium TWAP)
- .DOTUSDTPI (DOT Premium)
- .DOTUSDTPI8H (8-hours DOT Premium TWAP)
- EOS (EOS Token)
- .BEOS (EOS/USD BitMEX Index)
- .BEOST (EOS/USDT BitMEX Index)
- .BEOST30M (30-minutes EOS/USDT BitMEX Index TWAP)
- .BEOST_NEXT (EOS/USDT BitMEX Index)
- .BEOSXBT (EOS/XBT BitMEX Index)
- .BEOSXBT30M (30-minutes EOS/XBT BitMEX Index TWAP)
- .BEOSXBT_NEXT (EOS/XBT BitMEX Index)
- .BEOS_NEXT (EOS/USD BitMEX Index)
- .EOSBON (EOS Lending Rate)
- .EOSBON8H (8-hours EOS Lending Rate TWAP)
- .EOSUSDPI (EOS Premium)
- .EOSUSDPI8H (8-hours EOS Premium TWAP)
- .EOSUSDTPI (EOS Premium)
- .EOSUSDTPI8H (8-hours EOS Premium TWAP)
- ETH (Ethereum)
- .BETH (ETH/USD BitMEX Index)
- .BETH30M (30-minutes ETH/USD BitMEX Index TWAP)
- .BETHT (ETH/USDT BitMEX Index)
- .BETHT30M (30-minutes ETH/USDT BitMEX Index TWAP)
- .BETHT_NEXT (ETH/USDT BitMEX Index)
- .BETHXBT (ETH/XBT BitMEX Index)
- .BETHXBT30M (30-minutes ETH/XBT BitMEX Index TWAP)
- .BETHXBT_NEXT (ETH/XBT BitMEX Index)
- .BETH_NEXT (ETH/USD BitMEX Index)
- .ETHBON (ETH Lending Rate)
- .ETHBON8H (8-hours ETH Lending Rate TWAP)
- .ETHUSDPI (ETH Premium)
- .ETHUSDPI8H (8-hours ETH Premium TWAP)
- .ETHUSDTPI (ETH Premium)
- .ETHUSDTPI8H (8-hours ETH Premium TWAP)
- .ETHUSD_ETHPI (ETH Premium)
- .ETHUSD_ETHPI8H (8-hours ETH Premium TWAP)
- EUR (Euro)
- EVOL (EVOL)
- FTM (Fantom)
- GAL (GAL)
- .BGAL (GAL/USD BitMEX Index)
- .BGALT (GAL/USDT BitMEX Index)
- .BGALT_NEXT (GAL/USDT BitMEX Index)
- .BGAL_NEXT (GAL/USD BitMEX Index)
- .GALBON (GAL Lending Rate)
- .GALBON8H (8-hours GAL Lending Rate TWAP)
- .GALUSDPI (GAL Premium)
- .GALUSDPI8H (8-hours GAL Premium TWAP)
- .GALUSDTPI (GAL Premium)
- .GALUSDTPI8H (8-hours GAL Premium TWAP)
- GMT (GMT)
- .BGMT (GMT/USD BitMEX Index)
- .BGMTT (GMT/USDT BitMEX Index)
- .BGMTT_NEXT (GMT/USDT BitMEX Index)
- .BGMT_NEXT (GMT/USD BitMEX Index)
- .GMTBON (GMT Lending Rate)
- .GMTBON8H (8-hours GMT Lending Rate TWAP)
- .GMTUSDPI (GMT Premium)
- .GMTUSDPI8H (8-hours GMT Premium TWAP)
- .GMTUSDTPI (GMT Premium)
- .GMTUSDTPI8H (8-hours GMT Premium TWAP)
- LINK (Chainlink)
- .BLINK (LINK/USD BitMEX Index)
- .BLINKT (LINK/USDT BitMEX Index)
- .BLINKT30M (30-minutes LINK/USDT BitMEX Index TWAP)
- .BLINKT_NEXT (LINK/USDT BitMEX Index)
- .BLINK_NEXT (LINK/USD BitMEX Index)
- .LINKBON (LINK Lending Rate)
- .LINKBON8H (8-hours LINK Lending Rate TWAP)
- .LINKUSDPI (LINK Premium)
- .LINKUSDPI8H (8-hours LINK Premium TWAP)
- .LINKUSDTPI (LINK Premium)
- .LINKUSDTPI8H (8-hours LINK Premium TWAP)
- LTC (Litecoin)
- .BLTC (LTC/USD BitMEX Index)
- .BLTCT (LTC/USDT BitMEX Index)
- .BLTCT_NEXT (LTC/USDT BitMEX Index)
- .BLTCXBT (LTC/XBT BitMEX Index)
- .BLTCXBT30M (30-minutes LTC/XBT BitMEX Index TWAP)
- .BLTCXBT_NEXT (LTC/XBT BitMEX Index)
- .BLTC_NEXT (LTC/USD BitMEX Index)
- .LTCBON (LTC Lending Rate)
- .LTCBON8H (8-hours LTC Lending Rate TWAP)
- .LTCUSDPI (LTC Premium)
- .LTCUSDPI8H (8-hours LTC Premium TWAP)
- .LTCUSDTPI (LTC Premium)
- .LTCUSDTPI8H (8-hours LTC Premium TWAP)
- LUNA (Luna)
- .BLUNA (LUNA/USD BitMEX Index)
- .BLUNA30M (30-minutes LUNA/USD BitMEX Index TWAP)
- .BLUNAT (LUNA/USDT BitMEX Index)
- .BLUNAT30M (30-minutes LUNA/USDT BitMEX Index TWAP)
- .BLUNAT_NEXT (LUNA/USDT BitMEX Index)
- .BLUNA_NEXT (LUNA/USD BitMEX Index)
- .LUNABON (LUNA Lending Rate)
- .LUNABON8H (8-hours LUNA Lending Rate TWAP)
- .LUNAUSDPI (LUNA Premium)
- .LUNAUSDPI8H (8-hours LUNA Premium TWAP)
- .LUNAUSDTPI (LUNA Premium)
- .LUNAUSDTPI8H (8-hours LUNA Premium TWAP)
- MANA (Decentraland)
- MATIC (Matic Network)
- NEAR (Near)
- .BNEAR (NEAR/USD BitMEX Index)
- .BNEART (NEAR/USDT BitMEX Index)
- .BNEART_NEXT (NEAR/USDT BitMEX Index)
- .BNEAR_NEXT (NEAR/USD BitMEX Index)
- .NEARBON (NEAR Lending Rate)
- .NEARBON8H (8-hours NEAR Lending Rate TWAP)
- .NEARUSDPI (NEAR Premium)
- .NEARUSDPI8H (8-hours NEAR Premium TWAP)
- .NEARUSDTPI (NEAR Premium)
- .NEARUSDTPI8H (8-hours NEAR Premium TWAP)
- SAND (SAND)
- SOL (Solana)
- .BSOL (SOL/USD BitMEX Index)
- .BSOLT (SOL/USDT BitMEX Index)
- .BSOLT30M (30-minutes SOL/USDT BitMEX Index TWAP)
- .BSOLT_NEXT (SOL/USDT BitMEX Index)
- .BSOL_NEXT (SOL/USD BitMEX Index)
- .SOLBON (SOL Lending Rate)
- .SOLBON8H (8-hours SOL Lending Rate TWAP)
- .SOLUSDPI (SOL Premium)
- .SOLUSDPI8H (8-hours SOL Premium TWAP)
- .SOLUSDTPI (SOL Premium)
- .SOLUSDTPI8H (8-hours SOL Premium TWAP)
- SHIB (Shiba Inu)
- TRX (Tron)
- .BTRX (TRX/USD BitMEX Index)
- .BTRXT (TRX/USDT BitMEX Index)
- .BTRXT30M (30-minutes TRX/USDT BitMEX Index TWAP)
- .BTRXT_NEXT (TRX/USDT BitMEX Index)
- .BTRXXBT (TRX/XBT BitMEX Index)
- .BTRXXBT30M (30-minutes TRX/XBT BitMEX Index TWAP)
- .BTRXXBT_NEXT (TRX/XBT BitMEX Index)
- .BTRX_NEXT (TRX/USD BitMEX Index)
- .TRXBON (TRX Lending Rate)
- .TRXBON8H (8-hours TRX Lending Rate TWAP)
- .TRXUSDPI (TRX Premium)
- .TRXUSDPI8H (8-hours TRX Premium TWAP)
- .TRXUSDTPI (TRX Premium)
- .TRXUSDTPI8H (8-hours TRX Premium TWAP)
- XRP (Ripple)
- .BXRP (XRP/USD BitMEX Index)
- .BXRPT (XRP/USDT BitMEX Index)
- .BXRPT_NEXT (XRP/USDT BitMEX Index)
- .BXRPXBT (XRP/XBT BitMEX Index)
- .BXRPXBT30M (30-minutes XRP/XBT BitMEX Index TWAP)
- .BXRPXBT_NEXT (XRP/XBT BitMEX Index)
- .BXRP_NEXT (XRP/USD BitMEX Index)
- .XRPBON (XRP Lending Rate)
- .XRPBON8H (8-hours XRP Lending Rate TWAP)
- .XRPUSDPI (XRP Premium)
- .XRPUSDPI8H (8-hours XRP Premium TWAP)
- .XRPUSDTPI (XRP Premium)
- .XRPUSDTPI8H (8-hours XRP Premium TWAP)
- USD (US Dollar)
- USDT (Tether)
BitMEX offers Quanto Perpetual Contracts in US Dollars and Tether. This allows exposure to the US Dollar or Tether price of an asset, without needing to hold US Dollars / Tether or the asset directly.
Quanto Perpetuals Contracts
The following information assumes usage of the “COIN/USDT” perpetual contract as an example. Information is generalisable to all Quanto Perpetual contracts, but some may have different multipliers. Please check the contract specifications directly for that information.
A Bitcoin Quanto COIN/USDT perpetual contract has a fixed Bitcoin multiplier regardless of the USDT price of COIN. This allows traders to go long or short the COIN/USDT exchange rate without ever touching COIN or USDT. Traders will post margin in Bitcoin, and make or lose Bitcoin as the COIN/USDT exchange rate changes.
How Are Quanto Perpetuals Quoted
The COINUSDT perpetual’s underlying is the COIN/USDT exchange rate as recorded in the underlying index. The contract is quoted in USDT and all margin and PNL calculations are denominated in Bitcoin.
Contract Calculations | |
---|---|
Bitcoin Multiplier per 1 USDT | 0.0001 XBT |
XBT Value | COINUSDT Price * Bitcoin Multiplier |
USD Value | XBT Value * .BXBT Spot Price |
COIN Value* | USD Value / COINUSDT Price |
Bitcoin PNL Calculation | (COINUSDT Exit Price - COINUSDT Entry Price) * Bitcoin Multiplier * # Contracts |
*Assumes USD/USDT rate of 1
Traders who think that the price of COIN will rise will buy the perpetual contract. Conversely, traders who believe the price will drop will sell the perpetual contract.
Margin and Leverage
All margin is posted in Bitcoin, which means traders can go long or short this contract using only Bitcoin. Most Quanto Perpetuals feature a leverage between 20x and 100x.
Settlement
As this contract is perpetual, there is no settlement (subject to the Early Settlement). Marking for Unrealised PNL and Liquidation purposes are done according to the Fair Price Marking system. Note also: since this product is a perpetual contract, funding occurs every 8 hours. Please see the Funding Section in the Perpetual Contracts Guide for information, and for the current rates please see Funding Calculation in the Contract Specifications.
COINUSDT Quanto Perpetual Contract Example
BitMEX Derivative: COINUSDT Quanto Perpetual Contracts: 100,000 Bitcoin Multiplier per 1 USDT: 0.0001 XBT .BXBT Spot Price: $10,000 COINUSDT Perpetual Price: 3.5000
Trade Inception
Jaewon and Wang trade the COINUSDT Quanto Perpetual against each other for 100,000 contracts. Jaewon goes long, and Wang goes short. For each 1 USDT move, the contract pays out 0.0001 XBT; this is called the Bitcoin multiplier.
They agree that each side can use 25x leverage, which means they post 4.00% initial margin to BitMEX to initiate the trade. To calculate the Bitcoin margin, they first calculate the Bitcoin value of their COINUSDT Quanto Perpetual.
XBT Value = COINUSDT Price * Bitcoin Multiplier * # Contracts
35 XBT = 3.5000 * 0.0001 XBT * 100,000
Initial Bitcoin Margin = 35 XBT * 4.00% = 1.4 XBT
They both like to think in COIN terms at any given COINUSDT price. On the BitMEX Position Table, they are able to view the current value of their position in COIN terms.
USD Value = XBT Value * .BXBT Spot Price = 35 XBT * $10,000 = $350,000
COIN Value = USD Value / COINUSDT Price
100,000 COIN = $350,000 / 3.5000
They notice that the COIN value can change when the COINUSDT price changes. The only fixed number in a Quanto derivative is the multiplier. The COIN and USDT value will change as the COINUSDT and .BXBT prices change.
Trade Expiry
The COINUSDT quanto perpetual price rises to 4.0000, let’s compute Jaewon and Wang’s Bitcoin PNL.
Bitcoin PNL = (COINUSDT Exit Price – COINUSDT Entry Price) * Bitcoin Multiplier * # Contracts
Jaewon Bitcoin PNL = (4.0000 - 3.5000) * 0.0001 XBT * +100,000 = 5 XBT Profit
Wang Bitcoin PNL = (4.0000 - 3.5000) * 0.0001 XBT * -100,000 = 5 XBT Loss
Notice that the only variable that affects the PNL is the movement of the COINUSDT price.