BitMex Set to Launch ETHUSD Quanto Futures Contract

BitMex Set to Launch ETHUSD Quanto Futures Contract

BitMex are set to begin offering an ETHUSD Quanto futures contract which have 50x leverage.

This will become available on the platform on the 5th May 2020 and when it does, it will become the only of its kind on the market. Thus, BitMex will be exclusively the place for you to open one.  The beauty of such contracts is that they have a fixed Bitcoin multiplier, which is uninfluenced by the USD Ethereum price.

Thanks to this, traders can both long or short their position and not affect either the ETH or USD. Traders will post margin in XBT and then when the ETH/USD rate change, traders will earn or lose bitcoin reflective of the direction. According to BitMex, the  “contract combines the quanto feature of our ETHUSD perpetual swap with the expiry and settlement found in traditional futures.”

The contract details are:

  • Symbol: ETHUSDM20
  • Expiry Date: 26 June 2020, 1200 UTC
  • Bitcoin Multiplier: 0.000001 XBT (100 Satoshis)
  • XBT Contract Value: ETHUSD Price * Bitcoin Multiplier (100 Sat/$1)
  • Underlying: .BETH
  • Max Leverage: 50x
  • Maker Fee: -0.025%
  • Taker Fee: 0.075%
  • Base Initial Margin: 2.00%
  • Base Maintenance Margin: 0.90%

Make sure you at set-up at BitMex ahead of May 5th to get involved

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