Important Changes to Bitcoin / USD Swap Funding

Occasionally the BitMEX Bitcoin / USD Swap, XBTUSD, trades at a significant premium or discount to the mark price. This generally happens during periods of extreme volatility.

In order to ensure that the XBTUSD product trades close to the mark price the following change will be made.

Given 8 hours’ notice, BitMEX may decrease the funding interval from 8 hours to 2 hours to allow funding rates to better reflect the market. The leverage will remain unchanged at 100x. The funding interval will subsequently be increased from 2 to 8 hours after the market has stabilised.

An 8 hour funding interval means that the maximum amount of funding paid or received is +/- 1.125% per day. A 2 hour funding interval means that the maximum amount of funding paid or received is +/- 4.50% per day.

To learn more about the BitMEX Bitcoin / USD Swap especially how the mark price is calculated, please read the Swaps Guide.