BitMEX Adds MERLUSD Perpetual Swap with 10x Leverage

The MERLUSD perpetual contract will soon be available on BitMEX with 10x leverage. This quanto contract allows traders to trade the MERL/USD exchange rate without holding MERL or USD. Traders can post margin in XBT and earn or lose XBT as the MERL/USD rate changes. Key contract details include a symbol of MERLUSD, margin currency of XBT, Bitcoin multiplier of 0.0001 XBT, XBT contract value calculated as MERLUSD Price * Bitcoin Multiplier, underlying of .BMERL, max leverage of 10x, risk limit of 50 XBT, maker fee of 0.02%, taker fee of 0.075%, base initial margin of 10.00%, and base maintenance margin of 5.00%.

BitMEX Announces MERLUSD Perpetual Swap Listing with 10x Leverage

BitMEX, a leading cryptocurrency exchange, is set to introduce a new perpetual contract, MERLUSD, featuring the Merlin Chain token. The contract will be available for trading later today, April 19, 2024, at 12:00 UTC, with a maximum leverage of 10x.

MERLUSD Contract Specifications

The MERLUSD contract is a quanto contract, which means it has a fixed Bitcoin multiplier regardless of the MERL/USD price. This allows traders to take long or short positions on the MERL/USD exchange rate without holding either MERL or USD directly.

Traders can post margin in Bitcoin and earn or lose Bitcoin as the MERL/USD rate fluctuates. The quanto risk premium may result in the MERLUSD swap trading at a premium or discount to the MERLUSD spot price.

Key Contract Details

• Symbol: MERLUSD
• Margin Currency: XBT
• Bitcoin Multiplier: 0.0001 XBT (10,000 Satoshis)
• XBT Contract Value: MERLUSD Price * Bitcoin Multiplier (10,000 Sats / 1 USD)
• Underlying: .BMERL
• Max Leverage: 10x
• Risk Limit: 50 XBT
• Maker Fee: 0.02%
• Taker Fee: 0.075%
• Base Initial Margin: 10.00%
• Base Maintenance Margin: 5.00%

About MERL, the Merlin Chain Token

Merlin Chain is a Bitcoin Layer 2 solution that incorporates ZK-Rollup technology, decentralized oracles, data availability, and on-chain Bitcoin fraud-proof modules. Its mission is to empower Bitcoin's native assets, protocols, and products by providing a Layer 2 network.

MERL is the native token of Merlin Chain and is expected to launch spot trading on BitMEX on April 19 at approximately 10:00 UTC.

Stay Informed

To stay up-to-date on new listings, product launches, and giveaways, traders are encouraged to join BitMEX's online communities, follow the exchange on Twitter, or subscribe to the blog and site announcements. For assistance, traders can contact BitMEX Support 24/7.

Investment Disclaimer

Trading perpetual contracts carries significant risk of financial loss and is not suitable for all traders. Before trading, individuals should carefully consider their investment objectives, level of experience, and risk tolerance. It is essential to conduct thorough research and seek professional advice if necessary.