On 17 April 2020 at 0100 UTC, BitMEX will reduce the Base Maintenance Margin requirements for the XBT Series and ETH Series for a trial period. Base Initial Margin requirements will be unchanged.
These changes are a part of our ongoing efforts to fine tune our platform for an even better trading experience, and reflect users’ feedback. The end of this trial period will be announced with 1 week’s notice.
The affected contracts and their Base Margin requirements are shown in the table below.
| Contract | Prev. Base Maintenance Margin | New Base Maintenance Margin | Prev. Base Initial Margin | New Base Initial Margin |
| XBTUSD | 0.50% | 0.45% | 1.00% | 1.00% |
| XBTM20 | 0.50% | 0.45% | 1.00% | 1.00% |
| XBTU20 | 0.50% | 0.45% | 1.00% | 1.00% |
| ETHUSD | 1.00% | 0.90% | 2.00% | 2.00% |
| ETHM20 | 1.00% | 0.90% | 2.00% | 2.00% |
Impact of these changes (for XBT and ETH Series)
For traders on the Base Risk Limit (below 200 XBT notional for XBTUSD and 50 XBT for other contracts):
- Initial Margin requirements remain the same, so Bankruptcy Price will remain the same and Maximum Leverage available will remain the same.
- Maintenance Margin requirements will reduce, so Liquidation Price will move closer to Bankruptcy Price, and the amount of Maintenance Margin lost in the event of liquidation will reduce.
- The difference between Initial Margin and Maintenance Margin will increase, so Liquidation Price will move further away from Average Entry Price.
For traders above the Base Risk Limit (above 200 XBT notional for XBTUSD and 50 XBT for other contracts):
- Initial Margin requirements will reduce (Initial Margin = Base Initial Margin + Step x Base Maintenance Margin) so Bankruptcy Price moves closer to Average Entry Price, and Maximum Leverage available will increase.
- Maintenance Margin requirements will reduce so Liquidation Price will move closer to Bankruptcy Price, and the amount of Maintenance Margin lost in the event of liquidation will reduce.
- The difference between Initial Margin and Maintenance Margin will increase, so Liquidation Price will move further away from Average Entry Price.
Please note that the cap on the absolute Funding Rate will increase, in line with its definition as 75% x (Initial Margin – Maintenance Margin). The cap on Funding Rate changes between Funding Intervals (75% of Maintenance Margin) will reduce. Please see the Perpetual Contracts Guide for more information and these definitions.
| Contract | Prev. Funding Rate Cap | New Funding Rate Cap | Prev. Funding Rate Delta Cap | New Funding Rate Delta Cap |
| XBTUSD | 0.375% | 0.4125% | 0.375% | 0.3375% |
| ETHUSD | 0.750% | 0.8250% | 0.750% | 0.6750% |
If you have any questions, please contact Support via our contact form.