The listings continue with the introduction of the SUSHIUSDT Quanto Perpetual Swap.
With up to 33x leverage available, the SUSHI Perpetual Swap contract went live at 04:00 UTC on 21 July 2021 and is available to trade on BitMEX 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’ve been launching new products nonstop this summer – check out the AAVEUSDT Perpetual Swap, MATICUSDT Perpetual Swap, VETUSDT Perpetual Swap, SOLUSDT Perpetual Swap, FILUSDT Perpetual Swap, and the introduction of the XBTEUR Perpetual Swap and Futures contracts. To stay up to date on the latest, visit our blog, follow us on Twitter, or join our Telegram channel.
As with all quanto contracts, the SUSHI product will have a fixed Bitcoin multiplier regardless of the Tether/SUSHI price. This allows traders to long or short the SUSHI/USDT exchange rate without ever touching either SUSHI or USDT.
Traders post margin in XBT, and earn or lose XBT as the SUSHI/USDT rate changes. This quanto risk premium may be one of the factors which results in the SUSHIUSDT swap trading at a premium / discount to the SUSHIUSDT spot price – see our blog post explaining the same concept for ETHUSD.
Key contract details:
- Symbol: SUSHIUSDT
- Bitcoin Multiplier: 0.00001 XBT (1,000 Satoshis)
- XBT Contract Value: SUSHIUSDT Price * Bitcoin Multiplier (1,000 Sat / 1 USDT)
- Underlying: .BSUSHIT
- Max Leverage: 33x
- Maker Fee: -0.025%
- Taker Fee: 0.075%
- Base Initial Margin: 3.00%
- Base Maintenance Margin: 1.50%
If you have any questions, please contact our Support team who will be happy to help.