BitMEX Launches Inverse Daily Futures Contract

BitMEX is proud to announce the launch of a fast-moving inverse daily settling futures contract called XBU24H. XBU24H is live and trading.

XBU24H enjoys BitMEX’s lowest fee structure yet: regardless of whether or not you are on the Trader or Hedger fee schedule, XBU24H is a 0% maker / 0.03% taker fee structure with no insurance fees.

XBU24H is a continuously listed contract that settles daily. It is designed to be traded quickly and easily. It is similar to our longer-term XBU contracts, but the contract size is US$1 instead of US$100.

Contract Details

Listing Date: Today, 2 February 2015 at 12:00 GMT

Underlying: BitMEX Bitcoin / USD .XBT30M Index, this index is used for settling daily futures contracts

Maturity: Daily at 12:00 GMT (ticker: XBU24H)

Quoting Method: USD

Contract Value: 1 USD of Bitcoin

Settlement: The BitMEX .XBT30M Index, the index is a daily measurement of 30-minute Time Weighted Average Price (TWAP) from 11:30 to 12:00 GMT on Bitfinex.

Margin & PNL Currency: Bitcoin

Leverage: Up to 5x

Trading Fees: Maker 0.00% / Taker 0.03%

 

Commercial Hedgers

XBU24H allows commercial hedgers to lock in the USD price of Bitcoin for short term hedges. An example is someone who wished to hedge the Bitcoin price movement during network confirmations. XBU24H will mimic the spot price movements due to the daily expiry.

Speculators

XBU24H allows speculators to trade short term Bitcoin spot price movements with leverage. The contract size is lowered to US$1 to allow traders to trade exactly the quantities they desire. Remember that on all crypto derivatives exchanges, trading fractional contracts is not possible. A smaller contract means more flexibility.