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Spot trading refers to the buying and selling of tokens and coins at the current market price with immediate settlement. Trading spot is different to derivatives trading, as you need to own the underlying asset to place a buy or sell order.
Your BitMEX wallet is shared between Spot and Derivatives trading. Once you place an order, your balances will be immediately reduced until the order is executed or canceled.
Market order: A market order is an order that is executed immediately at current market prices. Traders use this order type when they are in need for an urgent execution.
Limit order: Limit orders are used to specify a maximum or minimum price that a trader is willing to buy or sell at. Traders use this order type to minimise their trading cost, however they are sacrificing guaranteed execution. This is because there is a chance the order may not be executed if it is placed deep out of the market.
You can find the Spot fees here.
BitMEX spot fees are charged in the quote currency. This means the fees are taken from the currency you spend when buying and the currency you receive when selling. For example, you placed an order to buy XBT with USDT (the quote currency), your fees will be charged in USDT.
There are taker fees and maker fees when trading on BitMEX. Taker fees are charged when you are the taker in a trade and maker fees are charged when you are the maker. “Taker’’ is an order that trades at a market price, “Maker” is an order that trades at a limit price. When submitting orders, BitMEX assumes the highest fee based on the appropriate fee tier and locks the total order amount + fees.
For example, a user places a buy order of 1 XBT at 40,000.00 USDT, the system will check if the user has sufficient balance to execute this trade, with the fee rate of 0.1%, the user will need to have at least 40,040.00 USDT in their wallet to submit this trade; if the actual fee amount when the order is filled is lower than the assumed fees, the residual will be refunded to the user.
The table below shows the spot pairs that are currently available for trading on BitMEX.
|Instrument name||Minimum Trade Amount||Minimum Amount Movement||Minimum Price Movement|
|APE_USDT||0.1 APE||0.1 APE||0.001 USDT|
|AXS_USDT||0.01 AXS||0.01 AXS||0.01 USDT|
|ETH_USDT||0.001 ETH||0.001 ETH||0.05 USDT|
|LINK_USDT||0.1 LINK||0.1 LINK||0.001 USDT|
|MATIC_USDT||1 MATIC||1 MATIC||0.0001 USDT|
|UNI_USDT||0.1 UNI||0.1 UNI||0.001 USDT|
|XBT_USDT||0.0001 XBT||0.0001 XBT||0.5 USDT|