BitMEX’s Summer of Listings is far from over with the introduction of the VETUSDT Quanto Perpetual Contract.
VETUSDT comes hot on the heels of the recently listed SOLUSDT Perpetual Swap, FILUSDT Perpetual Swap, and the introduction of the XBTEUR Perpetual Swap and Futures contracts.
With up to 20x leverage available, the VETUSDT Perpetual Swap contract will go live at 04:00 UTC on 30 June 2021. The contract is already available to trade on Testnet now.
We have plenty more in store for our users with even more new products to be listed on BitMEX this summer. To stay up to date on the latest, visit our blog, follow us on Twitter, or join our Telegram channel.
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More Details
As with all quanto contracts, the VET product will have a fixed Bitcoin multiplier regardless of the Tether/VET price. This allows traders to long or short the VET/USDT exchange rate without ever touching either VET or USDT.
Traders post margin in XBT, and earn or lose XBT as the VET/USDT rate changes. This quanto risk premium may be one of the factors which results in the VETUSDT swap trading at a premium / discount to the VETUSDT spot price – see our blog post explaining the same concept for ETHUSD.
Key contract details:
- Symbol: VETUSDT
- Bitcoin Multiplier: 0.001 XBT (100,000 Satoshis)
- XBT Contract Value: VETUSDT Price * Bitcoin Multiplier (100,000 Sat / 1 USDT)
- Underlying: .BVETT
- Max Leverage: 20x
- Maker Fee: -0.025%
- Taker Fee: 0.075%
- Base Initial Margin: 5.00%
- Base Maintenance Margin: 2.50%
The VETUSDT 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 29 June 2021 as Unlisted, 24 hours before trading starts at 04:00 UTC on 30 June 2021.
If you have any questions, please contact our Support team who will be happy to help.