Introducing the AAVEUSDT Quanto Perpetual Contract

Another week, another listing on BitMEX.

This time, we’re introducing the  AAVEUSDT Quanto Perpetual Swap. 

With up to 33x leverage available, the AAVEUSDT Perpetual Swap contract will go live at 04:00 UTC on 14 July 2021. The contract is already available to trade on Testnet now.

It’s a great time to be on BitMEX, with excellent platform performance alongside top tier liquidity and security. Sign up for an account here. Users can also trade on the go with BitMEX Mobile, available in over 140 countries.

We’ve been launching new products nonstop this summer – check out the MATICUSDT Perpetual SwapVETUSDT Perpetual Swap, SOLUSDT Perpetual Swap, FILUSDT Perpetual Swap, and the introduction of the XBTEUR Perpetual Swap and Futures contracts. To stay up to date on the latest, visit  our blog, follow us on Twitter, or join our Telegram channel

More Details

As with all quanto contracts, the AAVE product will have a fixed Bitcoin multiplier regardless of the Tether/AAVE price. This allows traders to long or short the AAVE/USDT exchange rate without ever touching either AAVE or USDT. 

Traders post margin in XBT, and earn or lose XBT as the AAVE/USDT rate changes. This quanto risk premium may be one of the factors which results in the AAVEUSDT swap trading at a premium / discount to the AAVEUSDT spot price – see our blog post explaining the same concept for ETHUSD.

Key contract details:

  • Symbol: AAVEUSDT
  • Bitcoin Multiplier: 0.000001 XBT (100 Satoshis)
  • XBT Contract Value: AAVEUSDT Price * Bitcoin Multiplier (100 Sat / 1 USDT)
  • Underlying: .BAAVET
  • Max Leverage: 33x
  • Maker Fee: -0.025%
  • Taker Fee: 0.075%
  • Base Initial Margin: 3.00% 
  • Base Maintenance Margin: 1.50% 

The AAVEUSDT perpetual contract is now available on Testnet, along with the full specs.

The contract will be visible on the platform from 04:00 UTC on 13 July 2021 as Unlisted, 24 hours before trading starts at 04:00 UTC on 14 July 2021.

If you have any questions, please contact our Support team who will be happy to help.