BitMEX Exchange to Offer ETH/USD Ethereum Futures Trading Options

BitMEX Launches 50x Leveraged ETH/USD Perpetual Swaps

BitMEX has officially launched 50x leveraged ETH/USD perpetual swaps on its trading platform, allowing users to trade using bitcoin without ever touching ETH or USD.

The news was announced on Twitter by BitMEX co-founder and CEO Arthur Hayes. You can begin trading with BitMEX’s Ethereum/US Dollar Quanto Perpetual here.

BitMEX is offering its ETH/USD perpetual contract with up to 50 times leverage, allowing traders to take an enormous position on the price of the ETH/USD pair in the future.

For traders out of the loop, “perpetual swaps” are popular financial instruments designed by BitMEX itself. The financial instrument is built around futures contracts. Trading swaps is similar to trading futures, although BitMEX claims traders enjoy special advantages.

“A Perpetual Contract is a derivative product that is similar to a traditional Futures Contract, but has a few differing specifications,” explains BitMEX on their online guide.

Those differences include:

  • There is no expiry or settlement.
  • Perpetual Contracts mimic a margin-based spot market and hence trade close to the underlying reference Index Price.
  • This is in contrast to a Futures Contract which may trade at significantly different prices due to basis.
  • The primary mechanism to tether to spot price is Funding

Now, BitMEX has added ETH/USD to its perpetual contract market, allowing users to take a position in ETH or USD while still just owning bitcoin.

The Hong Kong-based cryptocurrency exchange made headlines last week for breaking an industry record by trading over 1 million bitcoins in a 24 hour period. The record-breaking surge in volume occurred on July 24. The volume was purportedly an industry record.

In any case, if you’re interested in trading advanced futures-style contracts on BitMEX, then you now have another way of doing so: with the ETH/USD pair. BitMEX’s ETH/USD pair is now available as a perpetual swap with up to 50x leverage.

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