Announcing The BCHUSD Quanto Perpetual Contract

We are launching a BCHUSD quanto perpetual swap contract with up to 25x leverage on 16 June 2020 at 04:00 UTC. This is the fourth quanto contract to be launched on our platform and follows the successful introduction of the ETHUSD quanto futures contract on 05 May 2020 and the XRPUSD swap contract on 05 February 2020.  Together, these three new quanto contracts represent further diversification of trading opportunities for users as we continue to expand our innovative product range.

BCHUSD quanto swaps have a fixed Bitcoin multiplier regardless of the USD Bitcoin Cash price. This allows traders to long or short the BCH/USD exchange rate without ever touching either BCH or USD. Traders post margin in XBT, and earn or lose Bitcoin as the BCH/USD rate changes. This quanto property may be one of the factors which results in the BCHUSD swap trading at a premium / discount to the BCHUSD spot price – see our blog post explaining the same property for ETHUSD from 2018. 

BCHUSD is now available on Testnet, along with the full contract specs and BCH Series Guide.   

Key contract details:

  • Symbol: BCHUSD
  • Bitcoin Multiplier: 0.000001 XBT (100 Satoshis)
  • XBT Contract Value: BCHUSD Price * Bitcoin Multiplier (100 Sat/$1)
  • Underlying: .BBCH 
  • Max Leverage: 25x
  • Maker Fee: -0.025%
  • Taker Fee: 0.075%
  • Base Initial Margin: 4.00% 
  • Base Maintenance Margin: 2.00% 

The contract will be visible on the platform from 15 June 2020 at 04:00 UTC as Unlisted, 24 hours before the start of trading. 

For any questions regarding this announcement, please contact Support.