On 24 March 2017 at 12:00 UTC, BitMEX will delist the following Altcoin weekly futures contracts: ETH7D, XMR7D and DASH7D. As their replacement, BitMEX will trial the following monthly futures contracts:
These above contracts will settle on 28 April 2017 at 12:00 UTC on their respective 30 minute TWAP. All other specifications on the contracts remain the same.
The BitMEX Bitcoin / USD 30 June 2017 Futures Contract (XBTM17) listed today, 17 March 2017 at 12:00 UTC. This contract is similar to XBTH17, but uses a new index, described below.
.BXBT is an equally weighted index using the Bitcoin / USD spot price from the following exchanges:
XBTM17 uses the .BXBT index. Any exchange that is down or displays stale pricing data for 15 minutes or more will be removed temporarily from the index. Once the price feed is operational at least 5 minutes, we will reinstate the exchange.
A page detailing each constituents’ individual price and history will be live soon.
The BitMEX Bitcoin / USD 31 March 2017 Futures Contract, XBTH17, will continue to use the existing Bitcoin / USD Index (Symbol: .XBT; Weights: 50% Bitstamp, 50% OKCoin International) until it expires.
The BitMEX Bitcoin / USD Swap, XBTUSD, will continue to use the existing Bitcoin / USD Index (.XBT) until 31 March 2017 12:00 UTC. It will then switch to the new index. This is the same moment that XBTH17 expires.
Also effective 31 March 2017 12:00 UTC, the tick size for Bitcoin/USD products (XBTUSD, XBTM17) will change from 0.01 USD to 0.1 USD.
Occasionally the BitMEX Bitcoin / USD Swap, XBTUSD, trades at a significant premium or discount to the mark price. This generally happens during periods of extreme volatility.
In order to ensure that the XBTUSD product trades close to the mark price the following change will be made.
Given 8 hours’ notice, BitMEX may decrease the funding interval from 8 hours to 2 hours to allow funding rates to better reflect the market. The leverage will remain unchanged at 100x. The funding interval will subsequently be increased from 2 to 8 hours after the market has stabilised.
An 8 hour funding interval means that the maximum amount of funding paid or received is +/- 1.125% per day. A 2 hour funding interval means that the maximum amount of funding paid or received is +/- 4.50% per day.
To learn more about the BitMEX Bitcoin / USD Swap especially how the mark price is calculated, please read the Swaps Guide.
The SEC decision regarding the Bats exchange rule change is due by 11 March 2017. This decision, if positive, will allow the COIN ETF to list. Because this is a Saturday, there is a possibility that no public announcement will be made until Monday 13 March 2017.
The COIN Prediction Futures contract, COIN_BH17, will now settle on Tuesday 14 March 2017 at 00:00 UTC. If a public announcement regarding the rule change is made by the SEC prior to the settlement date, BitMEX will settle the contract early pursuant to the payout guidelines.
We have a minor update this week: