Introducing our newest listing – the SRMUSDT Quanto Perpetual Swap.
With up to 20x leverage available, the SRMUSDT Perpetual Swap contract went live at 04:00 UTC on 24 August 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 AXSUSDT Perpetual Swap, SUSHIUSDT Perpetual Swap, AAVEUSDT Perpetual Swap, MATICUSDT 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.
More Details
As with all quanto contracts, the SRM product will have a fixed Bitcoin multiplier regardless of the Tether/SRM price. This allows traders to long or short the SRM/USDT exchange rate without ever touching either SRM or USDT.
Traders post margin in XBT, and earn or lose XBT as the SRM/USDT rate changes. This quanto risk premium may be one of the factors which results in the SRMUSDT swap trading at a premium / discount to the SRMUSDT spot price – see our blog post explaining the same concept for ETHUSD.
Key contract details:
- Symbol: SRMUSDT
- Bitcoin Multiplier: 0.00001 XBT (1,000 Satoshis)
- XBT Contract Value: SRMUSDT Price * Bitcoin Multiplier (1,000 Sat / 1 USDT)
- Underlying: .BSRMT
- Max Leverage: 20x
- Maker Fee: -0.01%
- Taker Fee: 0.05%
- Base Initial Margin: 5.00%
- Base Maintenance Margin: 2.50%
The SRMUSDT perpetual contract is also available on Testnet, along with the full specs.
If you have any questions, please contact our Support team who will be happy to help.
