BitMEX, the cryptocurrency and bitcoin derivatives exchange announced today that it has launched an Ether (ETH) – US dollar perpetual swap. BitMEX was the originator of the Bitcoin XBT – USD perpetual contract, turning it into one of the most liquid markets for BTC trade.

ETHUSD on BitMEX is a ETH/USD perpetual contract priced on the .BETH Index (Bitstamp, GDAX, and Kraken equally weighted). Each contract is worth 0.001 mXBT per $1 price, currently 0.00041178 XBT.

Funding is paid and received every 8 hours. ETHUSD uses a Premium Index to calculate funding rates. The underlying interest rates are quoted in the .ETHBON8H Index and .USDBON8H Index and the premium rate is quoted in the .ETHUSDPI8H Index. These are used to calculate the final funding rate.

For example, today, longs will pay 0.0440%, and shorts will receive 0.0440% at 4:00 PM EDT. BitMEX does not charge fees for funding payments.

More Details

Risk Limit – 50 XBT

Risk Step – 50 XBT

Open Interest – 631,446

24H Turnover – 747.8473 XBT

Total Volume – 1,804,379

Type Settled in XBT, quoted in USD

Contract Size 0.001 mXBT per 1 USD (Currently 0.00041165 XBT per contract)

Settlement – This contract is perpetual and does not settle.

Minimum Price Increment – 0.05 USD

Max Price – 1,000,000

Max Order Quantity – 10,000,000