PEPE Coin, as the name suggests, is inspired by the popular meme character, Pepe the Frog. It is a deflationary memecoin launched on the Ethereum blockchain. The coin has gained some popularity among meme enthusiasts and has a strong community following.
BitMEX traders can now long or short PEPE via two listings – PEPEUSD and PEPEUSDT. Both listings went live on 3 May 2023 at 04:00 UTC.
The best thing about trading these PEPE listings on BitMEX? Users can enjoy up to 50x leverage and one of the highest max position sizes in the industry.
For the lowdown on these listings, read on.
If you haven’t yet signed up for a BitMEX account, you can do so here.
PEPEUSD Quanto Contract Specs
As with all quanto contracts, the PEPEUSD product has a fixed Bitcoin multiplier, regardless of the PEPE/USD price. This allows traders to long or short the PEPE/USD exchange rate without ever touching PEPE or USD.
Traders can post margin in XBT, and earn or lose in XBT as the PEPE/USD rate changes.
A quanto risk premium may be one of the factors that results in the PEPEUSD swap trading at a premium/discount to the PEPEUSD spot price. For an explanation of the same concept, check out this blog post referencing ETHUSD.
Key contract details for our PEPE listing:
- Symbol: PEPEUSD
- Margin currency: XBT
- Bitcoin Multiplier: 10 XBT (1,000,000,000 Satoshis)
- XBT Contract Value: PEPEUSD Price * Bitcoin Multiplier (1,000,000,000 Sat / 1 USD)
- Underlying: .BPEPE
- Max Leverage: 50x
- Risk limit: 50 XBT
- Maker Fee: 0.02%
- Taker Fee: 0.075%
- Base Initial Margin: 2.00%
- Base Maintenance Margin: 1.00%
You will be able to trade the PEPEUSD perpetual contract here, or check out the full contract specs here.
PEPEUSDT Linear Contract Specs
PEPEUSDT is a linear perpetual swap, margined in USDT. This allows users to gain exposure to the price of the PEPE token and trade it with leverage, without needing to have PEPE holdings.
Key contract details for our PEPE token listing:
- Symbol: PEPEUSDT
- Margin Currency: USDT
- Contract Size: 1 PEPE
- Lot Size: 10,000
- Minimum Trade Amount: 10,000 PEPE
- Underlying: .BPEPET
- Max Leverage: 50x
- Risk limit: 1,000,000 USDT
- Maker Fee: 0.02%
- Taker Fee: 0.075%
- Base Initial Margin: 2.00%
- Base Maintenance Margin: 1.00%
You will be able to trade the PEPEUSDT perpetual contract here, or check out the full contract specs here.
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In the meantime, if you have any questions please contact Support.