Now Live: MERLUSD Perpetual Swap Listing with Up to 10x Leverage 

A new perpetual contract listing – MERLUSD – featuring Merlin Chain – is now available to trade on BitMEX, with up to 10x leverage. 

Trading for MERLUSD will started here at 12:00 UTC on 19 April 2024. 

For the lowdown on the latest listings, read on.

If you haven’t signed up for a BitMEX account yet, we’re currently offering up to $5,000 in BMEX Tokens for verified users- you can register here.

MERLUSD Contract Specs

As with all quanto contracts, the MERLUSD product has a fixed Bitcoin multiplier, regardless of the MERL/USD price. This allows traders to long or short the MERL/USD exchange rate without ever touching MERL or USD.

Traders can post margin in XBT, and earn or lose in XBT as the MERL/USD rate changes.

This quanto risk premium may be one of the factors that results in the MERLUSD swap trading at a premium/discount to the MERLUSD spot price. 

For an explanation of the same concept, check out this blog post referencing ETHUSD.

Key contract details for our MERL listing:

  • Symbol: MERLUSD
  • Margin Currency: XBT
  • Bitcoin Multiplier: 0.0001 XBT (10,000 Satoshis)
  • XBT Contract Value: MERLUSD Price * Bitcoin Multiplier (10,000 Sats / 1 USD)
  • Underlying: .BMERL
  • Max Leverage: 10x
  • Risk limit: 50 XBT
  • Maker Fee: 0.02%
  • Taker Fee: 0.075%
  • Base Initial Margin: 10.00%
  • Base Maintenance Margin: 5.00%
You can trade the MERL perpetual contract here, or refer to the full contract specs here.

About MERL, the Merlin Chain Token

Merlin Chain is a Bitcoin Layer 2 that integrates the ZK-Rollup network, decentralized oracle network, Data Availability, and on-chain BTC fraud-proof modules. Merlin Chain is committed to empowering Bitcoin’s native assets, protocols, and products on Layer1 through its Layer 2 network, to Make Bitcoin Fun Again.

MERL is the native token of Merlin Chain and is expected to launch spot trading on 19 April around 10:00 am UTC. 

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In the meantime, if you have any questions please contact Support who are available 24/7.