Our mission is to provide markets for the products that command liquidity and matter the most to our users. That’s why we’re listing 10 new products on BitMEX this summer, starting with a community favourite – Solana (SOL).
The SOLUSDT Perpetual Swap contract with up to 33x leverage goes live at 04:00 UTC on 1 June 2021 and is visible 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’re also in the midst of our biggest giveaway ever – users can join the celebrations for the 5th Anniversary of the Perpetual Swap here.
As with all quanto contracts, the SOLUSDT product will have a fixed Bitcoin multiplier regardless of the Tether/Solana price. This allows traders to long or short the SOL/USDT exchange rate without ever touching either SOL or USDT.
Traders post margin in XBT, and earn or lose XBT as the SOL/USDT rate changes. This quanto risk premium may be one of the factors which results in the SOLUSDT swap trading at a premium / discount to the SOLUSDT spot price – see our blog post explaining the same concept for ETHUSD.
Key contract details:
- Symbol: SOLUSDT
- Bitcoin Multiplier: 0.00001 XBT (1,000 Satoshis)
- XBT Contract Value: SOLUSDT Price * Bitcoin Multiplier (1,000 Sat / 1 USDT)
- Underlying: .BSOLT
- Max Leverage: 33x
- Maker Fee: -0.025%
- Taker Fee: 0.075%
- Base Initial Margin: 3.00%
- Base Maintenance Margin: 1.50%
The contract will be visible on the platform from 04:00 UTC on 31 May 2021 as Unlisted, 24 hours before trading starts at 04:00 UTC on 1 June 2021.
If you have any questions, please contact our Support team who will be happy to help.